Onyx Biotec corrects promoter-group holding to 41.74% stake

Onyx Biotec Limited corrected Riya Chadha’s promoter-group holding from nil to 4,000 equity shares, or 0.02%, raising aggregate promoter and promoter-group ownership to 75,69,200 shares, or 41.74%, from 41.72%. The correction followed two National Stock Exchange of India letters dated September 9, 2026.

What did Onyx Biotec correct in its shareholding disclosure?

Onyx Biotec had incorrectly reported Riya Chadha’s holding as nil equity shares, representing 0.00% of its total paid-up equity and voting share capital. The corrigendum states that Chadha actually held 4,000 equity shares, equal to 0.02% of the company’s total paid-up equity and voting share capital, under the category of promoters and promoter group.

The error affected shareholding patterns filed from Onyx Biotec’s listing date through the quarter ended March 31, 2026. The corrigendum does not say that Chadha acquired 4,000 shares during that period. Instead, it describes an inadvertent filing discrepancy in which an existing 4,000-share holding was disclosed as nil.

The corrected aggregate holding for promoters and promoter group, including continuing promoters and promoter-group parties other than parties to the agreement, is 75,69,200 equity shares. That is 4,000 shares above the previously stated 75,65,200 shares. In percentage terms, the aggregate rises by 0.02 percentage points from 41.72% to 41.74%.

Why did Onyx Biotec issue the corrigendum?

Onyx Biotec issued the correction after the National Stock Exchange of India, or NSE, brought the discrepancy to the company’s attention. The corrigendum identifies NSE letters NSE/LIST/75284 and NSE/LIST/80060, both dated September 9, 2026, as the mechanism through which the matter was raised.

Onyx Biotec said it rectified the discrepancy and reflected Chadha’s correct 4,000-share holding in the shareholding pattern for the quarter ended September 30, 2026. The filing therefore separates the historical period affected by the error, from listing through March 31, 2026, from the September 30, 2026 quarter in which the corrected classification was reported.

The corrigendum to the Letter of Offer is dated November 7, 2026, and VC Corporate Advisors Private Limited submitted it to NSE on November 10, 2026. The manager to the offer said the corrigendum was published on November 10, 2026 in Financial Express, Jansatta, Pratahkal and Amar Ujala under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The correction was issued during an open-offer process rather than through a standalone shareholding update. The acquirers accepted responsibility for information in the November 7, 2026 corrigendum and for their obligations under the takeover regulations, while the filing identifies the underlying issue as Onyx Biotec’s promoter-group classification.

How does the correction affect the Onyx Biotec open offer?

The correction changes the stated ownership split used in the offer materials, but Onyx Biotec said all other terms and contents of the September 28, 2026 Letter of Offer remain unchanged. The offer is for up to 47,14,372 fully paid equity shares of face value Rs 10 each, representing 26.00% of total paid-up equity and voting share capital on a fully diluted basis.

Because promoter and promoter-group ownership rises by 4,000 shares, the filing says holdings of public shareholders and the acquirers will be adjusted correspondingly wherever applicable. It does not provide revised numerical holdings for either public shareholders or the acquirers, and it does not alter the stated maximum offer size of 47,14,372 shares.

The documents cited in the corrigendum began with a public announcement dated July 24, 2026, followed by a corrigendum dated July 30, 2026. The detailed public statement was dated July 31, 2026, the draft Letter of Offer August 7, 2026, and the Letter of Offer September 28, 2026. The November 7, 2026 corrigendum adds the 4,000-share correction to that document sequence.

The 26.00% offer is an acquisition proposal to public shareholders, while the 41.74% promoter and promoter-group figure is a revised disclosure of existing ownership. The corrigendum does not state that the correction changes the offer price, acceptance conditions, timetable or number of shares sought; it says only that corresponding ownership figures should be adjusted where required.

What do the revised Onyx Biotec ownership figures mean?

The disclosed change is limited to 4,000 shares previously omitted from the promoter-group category. Their inclusion raises the aggregate category from 75,65,200 to 75,69,200 shares and raises the reported percentage from 41.72% to 41.74%, while Chadha’s individual holding is recorded as 0.02%.

The filing also establishes that the error covered more than one reporting period. It applied from Onyx Biotec’s listing through the quarter ended March 31, 2026, while the quarter ended September 30, 2026 is the first period expressly identified as reflecting Chadha’s corrected 4,000-share holding.

For public shareholders reviewing the offer documents, the corrigendum directs attention to the revised promoter-group total and says public-shareholder and acquirer positions should be correspondingly adjusted. However, it gives no revised public-shareholding percentage, no revised acquirer percentage and no financial or operating update on Onyx Biotec.

The corrigendum says it will be available on the Securities and Exchange Board of India website. Apart from the 4,000-share adjustment and associated ownership effects, the acquirers and the manager to the offer state that the Letter of Offer’s other terms and contents remain unchanged as of November 7, 2026.

Conclusion

Onyx Biotec’s corrigendum resolves a 4,000-share omission in the promoter-group category that had persisted in reported shareholding patterns through March 31, 2026. The revised figures place promoter and promoter-group ownership at 75,69,200 shares, or 41.74%, rather than 75,65,200 shares, or 41.72%, after NSE raised the discrepancy on September 9, 2026.

Shareholders should watch for any open-offer disclosure that quantifies the corresponding adjustment to public-shareholder and acquirer ownership. The November 7, 2026 corrigendum preserves the offer’s stated maximum of 47,14,372 shares, representing 26.00%, and says all other Letter of Offer terms remain unchanged.