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Bondada Engineering gains on acquiring majority stake in Onix IPP
Jul-28-2026

Bondada Engineering is currently trading at Rs. 306.30, up by 2.80 points or 0.92% from its previous closing of Rs. 303.50 on the BSE.

The scrip opened at Rs. 306.30 and has touched a high and low of Rs. 306.30 and Rs. 304.00 respectively. So far 7600 shares were traded on the counter.

The BSE group 'M' stock of face value Rs. 2 has touched a 52 week high of Rs. 503.00 on 28-Oct-2025 and a 52 week low of Rs. 215.00 on 30-Mar-2026.

Last one week high and low of the scrip stood at Rs. 324.00 and Rs. 301.15 respectively. The current market cap of the company is Rs. 3405.98 crore.

The promoters holding in the company stood at 61.52%, while Institutions and Non-Institutions held 0.65% and 37.82% respectively.

Bondada Engineering (BEL) has acquired majority equity shareholding in Onix IPP (OIPL/SPV) there by entitling the company with controlling interest in a 225 MW (AC) solar power portfolio under a Government-backed agricultural feeder solarisation programme.

OIPL is the SPV formed for implementation of an aggregate 225 MW (AC) Solar Power Project as an IPP under Mukhyamantri Saur Krushi Vahini Yojana 2.0, under Component C of the PM-KUSUM Scheme in the State of Maharashtra. The SPV has power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company (MSEDCL) for a period of 25 years with estimated annual revenue of approximately Rs 150.48 crore.

This acquisition is in line with Bondada Group’s strategic objective of establishing a presence in renewable energy asset ownership and creation, generating predictable annuity-based revenues. These revenues will complement the Group’s existing annuity income from Battery Energy Storage System (BESS) assets, further strengthening its portfolio of steady and recurring cash flows. 

Bondada Engineering is engaged in the business of providing engineering, procurement and construction (EPC) services and operations and maintenance (O&M) services to its pan India customers operating in telecom and solar energy industry.

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