In a pivotal Board Meeting held on May 30, 2025, Onix Renewable Limited announced a series of strategic resolutions aimed at accelerating its growth trajectory, enhancing shareholder value, and preparing for a robust public offering. These decisions underline the company’s long-term vision to establish itself as a key player in the renewable energy sector.

1. Bonus Issue in 44:1 Ratio
The Board has approved a bonus issue of equity shares in the ratio of 44:1 — meaning shareholders will receive 44 fully paid-up equity shares for every 1 equity share held.
This move aims to reward existing shareholders and improve stock liquidity ahead of the planned IPO. The bonus shares will be issued by capitalizing free reserves and/or the securities premium account of the company.

2. Increase in Authorized Share Capital
To accommodate the upcoming bonus issue and future fundraising initiatives, Onix Renewable Limited has resolved to increase its authorized share capital from ₹1,00,00,000 to ₹50,00,00,000.
This significant expansion reflects the company’s ambitions for scaling operations and attracting larger institutional investments in the near future.

3. Conversion to Public Limited Company
To align with regulatory norms for an initial public offering (IPO), the Board has approved the conversion of Onix Renewable Limited from a private limited to a public limited company.
This strategic shift paves the way for transparent corporate governance, wider shareholder participation, and capital market access.

4. Approval for Initial Public Offering (IPO)
A major highlight of the meeting was the approval to initiate steps toward an Initial Public Offering (IPO).
The company plans to file a draft prospectus with the regulatory authorities shortly, aiming to raise capital for expansion projects, technological innovation, and market penetration.

5. Adoption of New Memorandum and Articles of Association
In line with its public company status and upcoming IPO, the company has adopted a new set of Memorandum and Articles of Association. This ensures full compliance with the Companies Act, 2013, and reflects the corporate governance standards expected of a listed entity.

6. Appointment of Key Directors
To strengthen its leadership and comply with board composition norms for public companies, the Board has inducted seasoned professionals as-Independent Director, Additional Director and Non-Executive Director. Their industry expertise and governance experience are expected to add strategic depth as the company prepares for listing.

7. Increase in Number of Shareholders
The Board also approved increasing the number of shareholders in the company, a key compliance requirement for transitioning to public company status and facilitating wider equity ownership.

Looking Ahead
With these resolutions, Onix Renewable Limited signals its readiness to enter a new phase of growth, governance, and public engagement. The bonus issue, capital restructuring, and IPO plans underscore the company’s commitment to delivering long-term value to stakeholders while advancing India’s renewable energy mission.