Gensol Engineering zooms on raising Rs 900 crore equity in preferential round
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Gensol Engineering is currently trading at Rs. 1131.45, up by 86.85 points or 8.31 % from its previous closing of Rs. 1044.60 on the BSE.
The scrip opened at Rs. 1091.70 and has touched a high and low of Rs. 1147.00 and Rs. 1073.70 respectively. So far 46444 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1,147.00 on 07-Feb-2024 and a 52 week low of Rs. 265.42 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1147.00 and Rs. 861.20 respectively. The current market cap of the company is Rs. 3956.20 crore.
The promoters holding in the company stood at 62.59%, while Institutions and Non-Institutions held 3.78% and 33.62% respectively.
Gensol Engineering has raised a significant Rs 900 crore (Rs 9 billion) equity capital through warrants convertible into equity shares on a preferential basis. This major milestone comes at a juncture when Gensol is on an exceptional growth trajectory and is leading the green energy and clean mobility revolution.
Gensol has achieved significant advancements in Solar EPC, EV Leasing, and EV Manufacturing sectors. The company’s dedication to innovation and environmental stewardship drives its continued progress, aiming for a 5X growth within the next three years. The equity fund raise saw participation from distinguished international and domestic participants including FPIs such as Elara India Opportunity Fund, Aries Opportunities Fund, Tano Investment Opportunities Fund etc. The capital raise is subject to shareholders’ approval at the EGM of the company to be held on March 2, 2024 and statutory approvals in compliance with SEBI Regulations.
Gensol Engineering is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.
