Onix Solar opens ₹6016.85 lakhs Rights Issue on May 25

Onix Solar Energy Limited has announced the opening of its proposed Rights Issue of up to 1,17,97,736 fully paid-up Equity Shares. The issue opens on May 25, 2026, and closes on June 01, 2026. Shares are offered at a price of ₹51 per share, which includes a share premium of ₹41 per Rights Equity Share. The total issue size aggregates up to ₹6016.85 lakhs, assuming full subscription. The Rights Issue is offered to eligible shareholders in the ratio of 8 Rights Equity Shares for every 17 fully paid-up Equity Shares held on the record date of Friday, May 15, 2026. The Equity Shares have a face value of ₹10 each.

Objects of the Issue

The company proposes to utilize the net proceeds from the issue towards the following objects:

Investment in NOPL Pace Green Energy Private Limited.

General Corporate Purpose.

To meet Issue Expenses.

The primary allocation of funds involves an investment of up to ₹5,850 lakhs in NOPL Pace Green Energy Private Limited. The company has already invested ₹50 crore in NOPL and proposes to invest additional amounts to acquire further equity stake. The balance of the proceeds will be used for general corporate purposes, subject to the condition that such utilization does not exceed 25% of the Gross Proceeds.

Issue Schedule

The key dates for the issue are outlined in the table below:

Event Date Record Date May 15, 2026 Issue Opening Date May 25, 2026 Issue Closing Date June 01, 2026 Last Date for On Market Renunciation May 26, 2026 Finalisation of Basis of Allotment June 02, 2026 Date of Allotment June 02, 2026 Date of Credit of Rights Equity Shares June 03, 2026 Date of Listing June 04, 2026

The Rights Entitlements (REs) will be credited to the demat accounts of eligible shareholders before the issue opens. The ISIN for the Rights Entitlements is INE173M20020. The issue requires a minimum subscription of at least 90% of the issue size. The company has appointed Brickwork Ratings India Private Limited as the Monitoring Agency and MUFG Intime India Private Limited as the Registrar to the Issue.

Onix Solar Energy Limited has notified BSE Limited of a Rights Issue Committee meeting scheduled for Monday, May 11, 2026. The intimation has been filed under Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The company, formerly known as ABC Gas (International) Limited, is in the process of executing a rights issue of equity shares.

Background: Board Approval of Rights Issue

The Rights Issue Committee meeting follows a Board of Directors meeting held on Friday, April 17, 2026, wherein the board approved the issuance of equity shares of face value of ₹10 each by way of a rights issue. The key details of the approved rights issue are outlined below:

Parameter: Details Issue Type: Rights Issue Instrument: Equity Shares Face Value: ₹10 each Issue Size (Maximum): Rs. 130 Crore Board Approval Date: April 17, 2026 Committee Meeting Date: May 11, 2026

The rights issue is being undertaken in accordance with the Companies Act, 2013, as amended, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, along with other applicable laws.

Agenda for the Rights Issue Committee Meeting

The Rights Issue Committee meeting on May 11, 2026, has been convened to consider, discuss, and decide on various matters in connection with the rights issue. The key agenda items include:

Determination of the rights issue price and related payment mechanism

Finalisation of the rights entitlement ratio

Setting of the record date for the rights issue

Determination of the timing of the rights issue

Any other related matters pertaining to the rights issue

Trading Window Closure

In accordance with the company's Code of Conduct for Prevention of Insider Trading, the trading window for trading in the company's equity shares has been closed effective May 06, 2026. The trading window will remain closed until the expiry of 48 hours after the conclusion of the Rights Issue Committee meeting. This closure applies to the company's directors, designated persons, and their immediate relatives.

The intimation has been signed by Piyush Savaliya, Managing Director (DIN: 06464445), on behalf of Onix Solar Energy Limited.

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