Onix Solar Energy Ltd – Promoter Pledges 20% Stake to HDFC Bank for Borrowing Security

Expert Analysis:

• Onix Solar Energy Ltd disclosed that its promoter entity Onix Renewable Ltd pledged 40,98,777 shares (20.00% stake) to HDFC Bank Ltd on 26 February 2026 to secure borrowing arrangements.

• Prior to the transaction, the promoter held 1,87,96,848 shares (91.72% stake) with no encumbrances. Following the pledge, 40,98,777 shares became encumbered (20%), while 1,46,98,071 shares remain unencumbered (71.72%).

• The disclosure was filed with BSE Limited under Regulation 31 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring regulatory compliance regarding the creation of encumbrance on promoter shareholding.