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Onix Renewable ₹46.00 ▲ 0.0% 1M
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Onix Renewable Unlisted Shares

Renewable Energy Solar EPC, IPP and module manufacturing

Onix Renewable is a Rajkot-based renewable energy company that builds solar, wind and hybrid projects for others, develops its own power projects and makes solar modules. It reports an IPP portfolio of 2100 MW across Gujarat and Maharashtra.

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Indicative price
As of 23 Oct 2026
₹46.00 ▲ 0.00% in 1 month
Dealer quotes: ₹45.00 – ₹46.00 across 3 dealers
Key facts

Onix Renewable share details

Lot size
1,000 shares
Min. investment
₹46,000
Face value
₹10
Headquarters
Rajkot, Gujarat
Website
onixrenewable.com
ISIN
INE0TG701015
CIN
U31501GJ2014PLC080979
Lock-in after IPO
6 months
Price history

Onix Renewable share price chart

1Y change
-53.06%
High
₹98.00
Low
₹46.00

Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.

About

About Onix Renewable

Onix Renewable Limited is a Gujarat-based renewable energy company with its registered office at Lodhika GIDC, Rajkot. It started as an EPC business, which means it designs and builds solar plants for other companies. Over time it has widened into wind and hybrid projects, independent power producer (IPP) development, solar module manufacturing, battery storage, green hydrogen and green ammonia, and operations and maintenance services. On its EPC side, the company says it has executed 1400+ MW of projects so far and is developing 800+ MW more. It names ACME, EDF, JSW, Hinduja and Ampin among its clients. In solar module making, it says it is scaling capacity up from 100 MW to 600 MW. On the IPP side, the chairman's message says the portfolio has reached 2100 MW across Gujarat and Maharashtra, with a total project investment of ₹10,000 crore. Under the PM-KUSUM scheme, 115 MW out of 187 MW in Gujarat is commissioned. The 990 MW project in Maharashtra is at an advanced stage, and its commercial operation date has been extended to 31 March 2027. The company says revenue grew from ₹20 crore in FY21 to ₹1,200 crore in FY24, with an order book of ₹10,000 crore. These are the company's own statements. We could not read audited financial statements for this page, so we do not show a financial table here. The website lists Divyesh Savaliya as Chairman and Managing Director. The chairman's message also mentions a matter once looked into by the Economic Offences Wing about the earlier ownership, and says the authorities clarified that neither the company nor its current management is involved. On listing, the company says it is in talks for a merger or share swap with an already listed entity. This is not a confirmed IPO. Unlisted shares of a company like this are dealt off-market between private buyers and sellers, so prices are indicative and liquidity can be thin. The indicative price on IPO Guru is ₹48 for a lot of 1000 shares.

Strengths

  • The business spans EPC, IPP development, solar modules and storage, so it is not tied to a single revenue line.
  • The company reports 1400+ MW of projects executed and 800+ MW under development, with clients such as ACME, EDF, JSW and Hinduja.
  • It says 115 MW of the 187 MW PM-KUSUM capacity in Gujarat is already commissioned and operating.
  • It says revenue grew from ₹20 crore in FY21 to ₹1,200 crore in FY24 and that its order book is ₹10,000 crore.

Risks

  • We could not verify audited financials from a primary document, so the revenue and order book numbers above are the company's own statements.
  • The 990 MW Maharashtra project has had its commercial operation date extended to 31 March 2027, so delays are a real risk.
  • The IPP portfolio of 2100 MW with a project investment of ₹10,000 crore likely needs heavy funding, and the company has not shown here how this will be financed.
  • A past Economic Offences Wing matter linked to the earlier ownership is mentioned in the chairman's message, even though the company says it is not involved.
  • The board listed on the website has only three people, two of them Additional Directors, which is a thin governance base for a business of this size.
  • The listing route mentioned is a merger or share swap with a listed company, which is subject to due diligence and approvals and has no confirmed outcome.
  • Unlisted shares trade off-market, so prices are indicative, liquidity is thin and exit timing is uncertain.
Leadership

Management team

Divyesh Savaliya
Chairman & Managing Director
Signs the chairman's message on the company website.
Chirag Thumar
Additional Director
Listed on the company's board page.
Chetankumar Hirpara
Additional Director
Listed on the company's board page.
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FAQs

Onix Renewable unlisted shares: common questions

Important disclaimer

Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.

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