Gensol Engineering Ltd is all set to make its debut in the stock market with the issue size ₹17.93 Cr. Gensol Engineering Ltd is a subsidiary of the Gensol group of enterprises, which provides EPC and solar consulting services. It provides technical due diligence, comprehensive engineering, quality control, construction supervision, and other consulting services for solar projects in a variety of nations, including India. It has built over 188 MW of solar power plants on the ground and roofs, and it has worldwide reach, having provided advisory services to Kenya, Ukraine, Oman, Gabon, Sierra Leone, Nepal, Afghanistan, Indonesia, the Philippines, and Chad. In 2015, it formed a joint venture with Solarig N-Gage SA, a Spanish company that runs, builds, and owns photovoltaic solar parks. During the past two years, Gensol Engineering has served as a technical adviser to NTPC for EPC Vendors for Ground Mounted, Floating, and Rooftop Solar PV Projects.

Gensol Engineering Limited IPO Details 

IPO Date	Sep 30, 2019 to Oct 4, 2019
Listing Date	Oct 15, 2019
Face Value	₹10 per share
Price	₹81 to ₹83 per share
Lot Size	1600 Shares
Total Issue Size	2,160,000 shares(aggregating up to ₹17.93 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE SME
IPO Date	Sep 30, 2019 to Oct 4, 2019

Gensol Engineering IPO Tentative Timetable

Gensol Engineering IPO opens on Sep 30, 2019, and closes on Oct 4, 2019.

Event	Tentative Date
Opening Date	Sep 30, 2019
Closing Date	Oct 4, 2019
Basis of Allotment	Oct 10, 2019
Initiation of Refunds	Oct 11, 2019
Credit of Shares to Demat	Oct 14, 2019
Listing Date	Oct 15, 2019
UPI Mandate Confirmation Cut-Off Time	5.00 PM on the issue closing day

Company Overview 

Gensol Engineering’s primary source of revenue from operations is solar engineering, procurement, and construction (EPC) contracts. The company primarily installs solar power plants on rooftops and provides solar advisory services, which include commissioning solar advisory, design review & engineering, execution, and operations services. Additionally, through its joint venture, Gensol Engineering provides full O&M services for solar power projects. In 2018, the company made more investments.

Industry Overview

According to the Global Renewable Energy Attractiveness Index 2018, the Indian renewable energy industry is the fourth most attractive renewable energy market in the world. Renewable power generating capacity installed has grown rapidly in recent years, with a CAGR of 19.78% between FY14 and FY18. Electricity generation from renewable energy sources in India reached 101.84 billion units in FY18 and 73.33 billion units between April and September 2018. As India seeks to fulfil its own energy demand, which is anticipated to exceed 15,820 TWh by 2040, renewable energy will play an essential role.

Company Financials 

Particulars	For the year/period ended (in Rs. Lakhs)
	31-Mar-19	31-Mar-18	31-Mar-17
Total Assets	4,288.66	2,643.71	996.80
Total Revenue	8,385.43	6,964.42	6,231.77
Profit After Tax	649.68	533.66	118.90

Objects of the Issue

• Financing the Company’s working capital requirements:
• General corporate objectives

Strengths 

• experienced management and a devoted workforce
• Repeat customers and a large clientele
• Numerous service offerings
• Capability in developing and carrying out designs
• Project finished on schedule

Weaknesses 

• Dependence on specific industries
• Limited geographic reach
• Dependence on key personnel

Gensol Engineering Limited  IPO Lead Manager(s)

• Pantomath Capital Advisors Pvt Ltd (Past IPO Performance)

Lead Manager Reports

• IPO Lead Manager Performance Summary
• IPO Lead Manager Performance Tracker

Company Contact Information

Gensol Engineering Limited

156-157 Sector 9C,

Madhya Marg

CH 160031 IN

Phone: 079 4006 8236

Email: communications@gensol.in

Website: https://gensolsolar.com

Gensol Engineering Limited Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: gensol.ipo@linkintime.co.in

Website: https://linkintime.co.in/