Gensol Engineering promoter demonstrates unwavering commitment with INR 29 Cr. Equity Infusion

Gensol Engineering Limited (BSE: 542851 | NSE: GENSOL) is pleased to announce that promoters of the company are reinforcing long-term confidence in Gensol's vision by infusing Rs. 28,99,99,885.50/- (Rupees Twenty Eight Crores and Ninety-Nine Lakhs Ninety-Nine Thousand Eight Hundred Eighty Five and Fifty Paisa)through the conversion of warrants into equity.

In alignment with the promoter group's unwavering support for the company's growth trajectory, warrants will be converted into 4,43,934 equity shares at a price of INR 871 per share. This step reaffirms the promoters' deep-rooted commitment to Gensol's strategic expansion in renewable energy and electric mobility, ensuring the company is well-capitalized.

This investment follows a recent strategic decision by the promoters to unlock liquidity through an equity stake sale with proceeds reinvested into the company.

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 FundInfusion PromoterGroup WarrantsConversion