Gensol Engineering Ltd allots 443934 shares on warrants to conversion to Promoter

The Board of Directors of Gensol Engineering Ltd has by way of circulation on March 10, 2025 approved and passed the allotment of Equity Shares on conversion of 4,43,934 warrants into 4,43,934 Equity Shares at an issue price of Rs. 871/- each (including a premium of Rs. 861/- each), to "Promoters Category", on preferential basis, upon receipt of balance amount aggregating to Rs. 28,99,99,885.50/- (Rupees Twenty Eight Crores and Ninety-Nine Lakhs Ninety-Nine Thousand Eight Hundred Eighty Five and Fifty Paisa) being 75% of the issue price per warrant, from the allottees pursuant to the exercise of their rights of conversion into equity shares in accordance with the provisions of SEBI (ICDR) Regulations, 2018.

Pursuant to members approval, these warrants were issued, in terms of SEBI (ICDR) Regulations, 2018 to "promoter and NonPromoters Category", on preferential basis, at an Issue Price of Rs. 871/- per warrant on payment of Rs. 217.75/- per warrant, being 25% of the Issue Price, entitling the warrants holders to get their warrants converted into equal number of Equity Shares of the Company by paying remaining 75% i.e., Rs. 653.25/- per warrant within 18 months from the date of warrant allotment.

Consequent to the aforesaid conversion / allotment, the paid-up equity capital of the Company has increased from Rs. 38,00,24,340/- consisting of 3,80,02,434 Equity Shares of Rs. 10/- each to Rs. 38,44,63,680/- consisting of 3,84,46,368 Equity Shares of Rs. 10/- each.

The new equity shares so allotted, shall rank pari-passu with the existing equity shares of the Company.

It may be noted that 56,10,264 total warrants are outstanding for conversion and these warrant holders are entitled to get their warrants converted into equal number of Equity Shares of the Company by paying remaining 75% i.e., Rs. 653.25/- per warrant within 18 months from the date of warrant allotment.

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 305.15 as compared to the previous close of Rs. 321.20. The total number of shares traded during the day was 152621 in over 4259 trades.

The stock hit an intraday high of Rs. 321.20 and intraday low of 305.15. The net turnover during the day was Rs. 47441160.00.

Source : Equity Bulls

Keywords

GensolEngineering INE06H201014 SharesAllotment PromoterGroup WarrantsConversion