Onix Solar Energy Limited (BSE: 513119) has announced key management changes following its Board Meeting held on May 21, 2025, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting resulted in the appointment of Mr. Harpreet Singh as Managing Director and Mr. Sagar Sureshbhai Limbad as Chief Financial Officer (CFO) of the company, both effective from May 21, 2025.

The meeting commenced at 12:00 PM and concluded at 12:40 PM, during which the Nomination and Remuneration Committee's recommendations were taken up and approved by the Board of Directors.

Appointment of Managing Director: Mr. Harpreet Singh

The Board has appointed Mr. Harpreet Singh (DIN: 09554648) as the Managing Director of Onix Solar Energy Limited under the professional category. His term will span five consecutive years, from May 21, 2025 to May 20, 2030, subject to approvals from regulatory authorities and the company’s shareholders at the forthcoming general meeting.

Key Highlights of Harpreet Singh’s Profile:

• Holds a Bachelor's degree in Industrial Engineering

• Completed Postgraduate studies in Supply Chain Management

• Has over 30 years of industry experience

• Served in senior leadership positions at Siemens India Limited and the Thermax Group

• Not related to any existing directors

• Does not hold any shares in the company

• Not debarred from holding the office of director by SEBI or any other authority

• Has no other directorships in listed or unlisted entities

This appointment is part of the company's long-term strategy to professionalize the leadership team, bring in domain expertise, and guide the company through its next phase of growth and operational efficiency.

Appointment of Chief Financial Officer: Mr. Sagar Sureshbhai Limbad

The Board has also appointed Mr. Sagar Sureshbhai Limbad as the Chief Financial Officer (CFO) of Onix Solar Energy Limited, effective May 21, 2025.

Key Highlights of Sagar Limbad’s Profile:

• Holds a Master’s degree in Commerce (M.Com)

• Brings over 7 years of experience in finance and accounting

• Has worked in roles that required strong financial management and reporting skills

• Is not related to any directors, promoters, or KMPs

• Does not hold any shares in the company

His appointment reflects the company’s commitment to strengthening financial governance and ensuring regulatory compliance with evolving standards and expectations.

Strategic Significance of the Appointments

These appointments are a clear signal of Onix Solar’s intent to bolster its leadership bandwidth, especially as the company continues to expand operations and respond to growing demand in the renewable energy sector.

• With Harpreet Singh’s extensive experience in industrial operations and supply chain, the company expects a strong push toward operational efficiencies and project execution excellence.

• Sagar Limbad’s appointment supports a stronger foundation for financial controls, budgeting, and stakeholder reporting, all crucial for investor confidence and regulatory integrity.

Compliance and Disclosure

In keeping with SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015, and the additional requirements under BSE Circular LIST/COMP/14/2018-19, all mandatory disclosures related to the appointments have been annexed and filed accordingly.

The company has ensured transparent and timely dissemination of information to the BSE and stakeholders through this announcement, further reinforcing its commitment to corporate governance.

Conclusion

The board’s decision to induct Harpreet Singh as Managing Director and Sagar Sureshbhai Limbad as CFO is expected to have a positive impact on corporate leadership, strategic planning, and financial stewardship at Onix Solar Energy Limited.

These appointments mark a significant step forward in succession planning and signal the company’s resolve to be led by professionals with proven industry credentials. Shareholders and market observers will be closely watching the upcoming general meeting where these appointments will be formally approved, and new leadership officially takes charge.

The Upcoming IPOs in this week and coming weeks are Aegis Vopak Terminals, Schloss Bangalore, Astonea Labs, Nikita Papers, Prostarm Info Systems, Victory Electric Vehicles International, Blue Water Logistics, Unified Data - Tech Solutions, Wagons Learning.

The Current active IPO are Dar Credit and Capital, Belrise Industries, Borana Weaves.