Onix Solar Energy Ltd shareholder Abhishek Kamdar sells 12.6 lakh shares, stake falls to 13.76%

What Onix Solar Energy Ltd announced

On 7 July 2026, Onix Solar Energy Ltd filed a disclosure with BSE under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing records a change in shareholding by Abhishek Ashvinbhai Kamdar and his HUF (Hindu Undivided Family), who together sold 12,62,148 equity shares of the company in the open market on 6 July 2026. After the sale, their combined holding fell to 50,74,838 shares, equivalent to 13.76% of the total share capital.

"The acquisition/disposal details have been disclosed as per Regulation 29(2) and the shareholding percentages have been updated accordingly."

Details of the shareholding change

• Acquirer and PAC: The acquirer is Mr. Abhishek Ashvinbhai Kamdar. The Person Acting in Concert (PAC) is his HUF, also named Abhishek Ashvinbhai Kamdar HUF.
• Promoter status: Neither the acquirer nor the PAC belongs to the promoter group of Onix Solar.
• Pre‑sale holding: Prior to the transaction, the acquirer and PAC together held 63,36,986 shares, representing 17.18% of the total share capital.
• Shares sold: The filing lists 12,41,648 shares held by Mr. Kamdar and 20,500 shares held by the HUF, totalling 12,62,148 shares (3.42% of the total).
• Post‑sale holding: After the disposal, the combined holding is 50,74,838 shares, or 13.76% of the total share capital.
• Mode of acquisition/sale: The shares were sold in the open market.
• Date of transaction: 6 July 2026.
• Equity share capital: The company's equity share capital remains Rs 36,86,79,260, divided into 3,68,67,926 equity shares of Rs 10 each. This figure is unchanged before and after the transaction.
• Encumbrances and convertible instruments: The filing reports no shares under pledge, lien, or other encumbrance, and no warrants, convertible securities, or other instruments were involved in the sale.

Key facts at a glance

Why this matters for investors

The filing is a statutory requirement under SEBI’s Substantial Acquisition of Shares & Takeovers Regulations, which mandate disclosure whenever a shareholder’s voting power crosses certain thresholds (typically 1% and 5%). Although the sale reduced the acquirer’s stake, the overall shareholding remains above the 5% trigger, meaning the disclosure remains relevant for market transparency. The open‑market nature of the transaction indicates that the shares were sold at prevailing market prices, without any preferential allotment or private placement.

For existing shareholders, the key points are:

• No dilution: The total number of shares outstanding is unchanged; the transaction merely re‑allocates existing shares.
• Voting power: The acquirer’s voting influence has decreased from 17.18% to 13.76%, which may affect any future shareholder resolutions where his block vote could be decisive.
• Regulatory compliance: By filing the disclosure promptly (the next day), the company and the acquirer demonstrate compliance with SEBI’s reporting timelines, reducing the risk of regulatory penalties.

Conclusion

On 6 July 2026, Abhishek Ashvinbhai Kamdar and his HUF sold 12.62 lakh shares of Onix Solar Energy Ltd in the open market, cutting their combined stake from 17.18% to 13.76% of the company’s equity. The transaction was disclosed in accordance with SEBI Regulation 29(2) on 7 July 2026. The share capital and total number of shares remain unchanged, and no encumbrances or convertible instruments were involved. The filing completes the statutory reporting requirement; no further regulatory action is indicated at this stage.