Gensol Engineering IPO Details | Gensol Engineering Limited | Sep 30, 2019 – Oct 4, 2019

Gensol Engineering IPO Details | Gensol Engineering Limited | Sep 30, 2019 - Oct 4, 2019

Gensol IPO September 2019

Gensol Engineering Ltd is a part of Gensol Group. The company provides several products and services to other countries such as technical due diligence, detailed engineering, quality control, construction supervision, and consulting services for solar projects. It offers these services to India and other countries. The company announces its IPO worth of Rs 17.93 crores. Gensol Engineering IPO opens for subscription on 30th September 2019.

Gensol Engineering IPO Details

 Issue Open  Sep 30, 2019 – Oct 4, 2019
 Issue Type  Book Built Issue IPO
 Issue Size  2,160,000 Eq Shares of Rs 10
(aggregating up to Rs 17.93 Cr)
 Face Value  Rs 10 Per Equity Share
 Issue Price  Rs 81 – Rs 83 Per Equity Share
 Market Lot  1600 Shares
 Min Order Quantity  1600 Shares
 Listing At  BSE SME

Gensol’s IPO is a bookbuild type issue. The size of the issue is 2,160,000 equity shares aggregating up to Rs 17.93crore.

As of the draft prospectus, the IPO will close on 04th October 2019. The face of the issue stayed at Rs 10 per equity share. The fixed price band range between Rs 81- Rs 83 per equity share. The performance of the IPO will manage by Pantomath Capital Advisors Pvt Ltd.

The issue is proposed to be listed on the BSE. The market lot of the issue is 1600 shares. A minimum order quantity stayed at 1600 shares.

It is a fresh issue. According to the reports, the company will allocate 50 percent of shares to retail investors from a total of 2,160,000 equity shares.

Other details of the IPO will available in the first week of October such as subscription details, allotment date and listing details.

Objects of the Issue

As of draft prospectus, the company will utilize the net proceeds raised from the issue towards the capital requirements of the company and general corporate purposes. The company will utilize net proceeds up to Rs 13.50 crore towards the capital requirements.

Gensol IPO Subscription Status

Day Date NII  RII  Total
 1  Sep 30, 2019  1.33x 0.05x 0.69x
 2  Oct 1, 2019, 18:30  1.35x  0.11x  0.73x
 3  Oct 3, 2019  1.44x  0.17x  0.80x
 4  Oct 4, 2019  2.27x  0.37x  1.32x

Listing Details

 Listing Date  Tuesday, October 15, 2019
 BSE Script Code  542851
 Listing In  MT
 ISIN  INE06H201014
 Issue Price  Rs 83 per Equity Share
 Face Value  Rs 10 Per Equity Share

Listing Day Trading information

 Issue Price  Rs 83.00
 Open  Rs 85.40
 Low  83.50rs
 High  89.50
 Last Trade  Rs 86.25
 Volume  94,400

Dart Prospectus

Gensol Engineering IPO Registrar

Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083

Phone: +91-22-4918 6270
Email: [email protected]

Disclaimer: This post is just about the IPO. It does not give any advice or recommendation to investors. Please consult your advisor before investing.

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