Onix Solar Energy Ltd Board Approves Right Issue of Equity Shares Up To Rs. 130 Crore
Onix Solar Energy Ltd, formerly known as ABC Gas (International) Limited, has approved raising funds through a rights issue of equity shares. The decision was passed by the Company's Board of Directors during a meeting held on April 17, 2026.The board approved the issuance and allotment of Equity Shares with a face value of Rs. 10 each. This fund-raising initiative is planned on a rights basis for the eligible equity shareholders of the Company. The proposed issue has an aggregate size not exceeding Rs. 130 Crore (Rupees One Hundred and Thirty Crore only).
The rights issue is subject to receiving requisite regulatory and statutory approvals and is contingent upon the determination of a record date, which will be notified at a later time.
The Board also authorized the formation of a "Right Issue Committee," a sub-committee of the Board of Directors. This committee has been mandated to decide all matters related to the proposed issuance of equity shares on a rights basis, including the finalization and approval of the detailed terms and conditions of the issue and the exact number of equity shares to be issued.
The core details of the proposed security issuance are as follows:
| Particulars | Details |
|---|---|
| Type of Security Proposed | Equity Shares |
| Type of Issuance | Rights Issue |
| Issue Size (Approximate) | Not exceeding Rs. 130 Crore |
The meeting of the Board of Directors commenced at 3:55 P.M. and concluded at 4:00 P.M. The Company also announced the appointment of various intermediaries for the Proposed Right Issue.
Stock Price Movement
Onix Solar Energy Ltd shares settled at ₹925.55 today, marking a solid 1.99% increase from the previous close. Despite the daily gain, the stock was completely flat throughout the session, keeping its intraday range locked at ₹925.55.Source:
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