Onix Renewable Set to Raise ₹1,000 Crore in IPO to Expand Solar Footprint

In a significant move that underscores the growing importance of renewable energy in India, Onix Renewable Limited, a leading player in the solar energy sector, is set to raise ₹1,000 crore through an Initial Public Offering (IPO). The company plans to use the proceeds to expand its solar footprint, enhance its technological capabilities, and strengthen its position in the rapidly growing renewable energy market. 

This article provides a comprehensive analysis of Onix Renewable’s IPO, its growth prospects, and what investors can expect from the Onix Renewable Limited share price and about the market outlook and delve into the company’s business model, financial performance, and future plans to provide a detailed understanding of this exciting investment opportunity.  

​Company Overview: Onix Renewable

Established in 2007 as a transmission and distribution contractor, Onix Renewable has developed into an outstanding player in the renewable energy quarter. The business organization boasts a robust portfolio, which include over 1,200 MW in engineering, procurement, and production (EPC) responsibilities and 2,525 MW as an unbiased independent power producer (IPP) and  manufacturer, greater frequently under the PM-Kusum scheme.

Demonstrating its commitment to innovation, Onix correctly completed a 52  MW hybrid (wind and solar) project within a first-rate four-month time-frame.

Onix Renewable Limited has emerged as a frontrunner in India's renewable power quarter and energy sector, delivering over 500 MW of responsibilities throughout wind, solar, storage, and hybrid systems. The enterprise's project makes a speciality of imparting revolutionary and sustainable energy solutions to assist a net-zero future.

Comprehensive Renewable Energy Solutions

Onix Renewable offers a wide array of services, including:

• Independent Power Production (IPP): Developing and operating renewable power energy flora and plants.

  
  

• Engineering, Procurement, and Construction (EPC): Delivering cease-to-cease undertaking solutions.

  
  

• Energy Transition and Infrastructure: Facilitating the shift to sustainable energy sources.

  
  

• Manufacturing: Specializing in solar panel production.

  
  

The company is recognized as a top provider of software program-scale solar energy solutions in India and globally, with 3.5 GW of solar potential each committed or mounted in terms of installed.

The planned ₹1,000 crore IPO, anticipated to launch with the aid of July 2025, seeks to attain a valuation of ₹10,000 crore. The capital raised might be allotted to finance renewable energy initiatives and amplify the organisation's solar module manufacturing capability from the currently present 100 MW to 1200 MW in  2024.

Onix Unlisted Share Price

In the unlisted market, Onix Renewable stocks have been trading at a premium price at the top rate, reflecting strong investor interest. As of October 2023, the Onix unlisted share price is around ₹22,100 per share, depending on market conditions and call for. The organisation’s marketplace Capitalization stands at ~ ₹3,690 crore.

Analysts are expecting that the Onix Renewable share price could see significant upside movement post-listing, driven by means of the business enterprise’s robust fundamentals and growth potential opportunities. The Onix renewable IPO is expected to be attractive, making it a compelling funding opportunity. The post-listing onix renewable IPO price depends on the company's valuation and further market outlook and onix renewable limited share price target 2025 has not been disclosed.

Growth Potential of Onix Renewable

1.  India’s Renewable Energy Targets

India has set a formidable goal of reaching 500 GW of renewable energy  potential by the end of 2030, with solar power anticipated to play a key function. Onix Renewable is well-positioned to gain from this growth, given its understanding in solar initiatives task development and execution.

2.  Expanding Solar Portfolio

Onix Renewable plans to apply the IPO proceeds to make its solar portfolio through growing new projects across India. The company’s focus on application-scale and rooftop solar installations offers it a various sales flow.

3.   Technological Innovation

Onix Renewable is known for its revolutionary method to solar energy, leveraging advanced technology along with bifacial solar panels, energy storage structures, and AI-driven asset control. This awareness on innovation complements the organization’s competitive part and positions it properly for future boom. 

Strategic Partnerships and Future Plans

In January 2024, throughout the Vibrant Gujarat Global Summit, Onix Renewable signed a Memorandum of Understanding (MoU) with the Gujarat Government, committing to invest ₹19,000 crore in renewable power projects, specializing in hybrid (solar and wind) energy.

The enterprise's order book has grown substantially, with projections achieving approximately ₹2,120 crore for FY24.

Looking forward, Onix targets to attain 10 GW of renewable energy potential by 2030, underscoring its commitment to sustainable power solutions.

Conclusion

Onix Renewable Limited stands at the leading edge of India's energy transition, providing comprehensive renewable energy solutions and demonstrating robust financial performance. The upcoming IPO and strategic expansions position the corporation for persisted growth, making it a key participant in the renewable energy sector.