Gensol Engineering Ltd. reaches 8% above IPO price on listing day

Management of Gensol Engineering Ltd., Mr. Anmol Singh Jaggi (MD & Chairman) and Mr. Puneet Singh Jaggi (Director) with family member were present at the Gensol Engineering Ltd. listing ceremony held today at the BSE, Ahmedabad.-Photo By GPN

Management of Gensol Engineering Ltd., Mr. Anmol Singh Jaggi (MD & Chairman) and Mr. Puneet Singh Jaggi (Director) with family member were present at the Gensol Engineering Ltd. listing ceremony held today at the BSE, Ahmedabad.-Photo By GPN

MUMBAI, OCTOBER 15, 2019 (GPN) : Gensol Engineering Ltd., made a strong debut on the stock exchange with the stock reaching a high of 89.5, about 8% higher than its issue price on Tuesday, 14th October 2019. The stock listed at Rs 85.4 on the BSE-SME Exchange.

The stock hit a low of Rs 83.5 during the day which is above the issue price. As per market analysts, the positive response to the IPO was majorly because of the good performance of the company over the last 4 years, strong order book & turnover. CAGR of profit (without tax) over 200% and return on equity of 60%+.

Anmol Singh Jaggi, MD & Chairman of Gensol Engineering Limited said that “Renewable Energy has become mainstream and Gensol with its focus on services is well poised to take a leadership position in the sector.”

“Our past performance of CAGR of 200% in profits over the last 4 years is the testament to the value that we have created and we hope to keep on creating continuous value for our investors” – Puneet Singh Jaggi, Whole Time Director added.

The issue, which was open for subscription between September 30, 2019 to October 4, 2019 was subscribed 126%. Gensol has been successful providing comprehensive services to renewable projects for top IPPs, PSUs, Government policymakers, lenders, solar EPC Companies and leading institutions across in India and 13 countries around the globe.

Gensol’s Concept to Commissioning Advisory Services and Operation & Maintenance services during 25 year lifetime of the company give it a good mix of project and annuity income with long term visibility. Gensol, with 20,000 MW of experience is the largest Solar Advisory and independent Operator of Solar projects in India and now extending to wind and more countries.

About Gensol Engineering Ltd.

Based in Ahmedabad, Gensol, a leading renewable energy advisory cum EPC firm is at the heart of India’s solar revolution and has won some interesting projects in the country and abroad. Backed by extensive on-ground experience, industry equipment and knowledge alliances Gensol has an impeccable record in timely and quality project execution in the solar industry. With expertise in carbon advisory, renewable energy certificates, power trading and sustainability services, Gensol boasts of a portfolio of 25 million carbon credits through 450+ clients across 22 Indian states. It provides its niche offerings to some of the largest project developers, financial institutions and investors spread across India, South East Asia (Indonesia, Philippines) Africa (Kenya, Chad, Gabon & Sierra Leone) and West Asia (Iran, Oman).

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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