By K Vivek Mobile: 09920183006 Email: firstname.lastname@example.org
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.