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Onix Renewable Deploys ₹49.15 Cr Strategic Inter-Corporate Loan to Vikran Engineering
Loan Agreement with Vikran Engineering
• Onix Renewable has extended an inter-corporate loan of ₹49.15 crore to Vikran Engineering Ltd. to support its operational and strategic needs.
Financial Terms
• The loan carries an interest rate of 15% per annum and is structured to be repaid on demand at Onix Renewable’s discretion, allowing the lender flexibility to call for full or partial repayment with or without advance notice.
Strengthening Strategic Collaboration
• This financing builds on the ongoing commercial relationship between Onix and Vikran Engineering, including prior module supply engagements.
Previous Module Supply Engagements
• Before the loan, Onix Solar (a subsidiary of Onix Renewable) secured a Letter of Intent (LoI) from Vikran Engineering for a ₹148.80 crore supply order of Non-DCR TOPCon 620 Wp solar modules — reflecting demand for cost-efficient solar components ahead of regulatory shifts in DCR requirements.
Industry Context & Future Opportunities
• Onix Renewable’s financial positioning and collaborations in the renewable energy value chain, as seen in this loan to Vikran Engineering, are part of broader engagement strategies in India’s solar and clean energy sectors — an area where Onix continues to pursue project, supply, financing and EPC synergies.
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