Gensol Engineering IPO Review, Dates, Allotment, Subscription, GMP & DRHP

Let’s have a detailed review of the company and analytics of the Gensol Engineering IPO release date, IPO offer price, subscription, Gensol Engineering IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Gensol Engineering Limited (“Gensol”) is a Solar Design & Engineering company with team of more than 500 employees and an experience of providing technical expertise over 18,000+ MW.


Gensol Engineering IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 7.5/10
Industry Ranking 7.1/10
Company Background 7.3/10
Company Reputation 7.2/10
Competitive Edge 7.7/10
Financial Statements 7.1/10
Popularity Index 7.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.1/10
Top Brokers Review 7.9/10
Overall Ratings 7.4/10
Star Ratings ★★★★☆

Summary of Gensol Engineering IPO

Gensol Engineering Limited IPOGensol Engineering Limited (“Gensol”) is a Solar Design & Engineering company. Gensol provides concept to commissioning solar advisory, engineering review, detailed engineering, construction supervision, quality control and technical due diligence services for projects in India and abroad. Initial public Offering of Upto 24,16,000* Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●]/- per Equity share aggregating to Rs. [●] Lakhs.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements:

  • From FY 2015-16 to FY 2017-18, as per the Restated Consolidated Financial Statements, i) the total revenue has shown growth from Rs. 1,215.68 lakhs to Rs. 7006.01 lakhs, representing a CAGR of 140.06%.
  • The EBITDA has shown growth from Rs. 54.80 lakhs to Rs. 752.23 lakhs, representing a CAGR of 270.50% Statements. The restated total revenue, EBITDA and profit after tax for the period ended September 30, 2018 was Rs. 4,877.30 lakhs, Rs. 466.63 lakhs and Rs. 308.25 lakhs respectively, with an EBITDA margin of 9.57% and PAT margin of 6.32%
  • The net worth of the company as on March 31, is  Rs. 642.67 lakhs as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
  •  The profit after tax has shown growth from Rs. 36.49 lakhs to a profit of Rs. 509.17 lakhs, representing a CAGR of 273.55%.

The Promoters of this company are Mr. Anmol Singh Jaggi  and Puneet Singh Jaggi. The lead manager to the issue is Pantomath Capital Advisors Private Limited and the Registrar to this issue is Link Intime India Private Limited.



Gensol Engineering IPO Date

The opening and the closing date of Gensol Engineering IPO is not known yet.


Gensol Engineering IPO Subscription

Day / Date QIB NII RII Total Subscription
1st Day – 
2nd Day – 
3rd Day – 
4th Day – 
5th Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Gensol Engineering IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Gensol Engineering IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Gensol Engineering IPO Equity Share Offering

Initial public Offering of Upto 24,16,000* Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●]/- per Equity share aggregating to Rs. [●] Lakhs.


Gensol Engineering Limited – Company Overview

Gensun Renewable Private Limited (“GRPL”), subsidiary of Gensol was incorporated as a private limited company under the provisions of Companies Act, 2013 on February 08, 2018. GRPL is mainly engaged in RESCO Business i.e. Renewable Energy Services Company which is engaged in power production generation and sale
activity.

Solar Design & Engineering Company:

Gensol Engineering Gensol Engineering Limited (“Gensol”) is a Solar Design & Engineering company with team of more than 500 employees and an experience of providing technical expertise over 18,000+ MW. Gensol provides concept to commissioning solar advisory, engineering review, detailed engineering, construction supervision, quality control and technical due diligence services for projects in India and abroad.

They have one-stop solution across the entire value chain of solar industry by advising Governments policy makers, leading project developers, Solar EPC Companies, Lending Institutions and Vendors alike. Besides advising various stakeholders in Solar Projects, Gensol also undertakes turnkey Engineering, Procurement and Construction contracts under it’s EPC Business, with international footprints, with help of the team of 180+ engineers. In all, Gensol has, so far, erected solar power plants with a cumulative capacity of more than 188 MW + on roofs as well as lands.

Gensol has also expanded wings in international market by providing Consulting Services in countries like Indonesia, Nepal, Afghanistan, Sierra Leone, Chad, Gabon, Philippines, Oman, Ukraine and , Kenya. The company have also an ongoing EPC project in Egypt. They are also entitled to subsidy in some of the projects from SECI.

Gensol Head Office:

They have a head office and a factory located in Chhatral, GIDC, Gujarat. The company establishes a long-term relationship with their clients by providing good quality product, which will surely go a long way and benefit the company. The company is backed by a team of highly creative and experienced professionals who have an affinity for creating innovative designs.

Competitive Strengths of Gensol Engineering Limited:

  • Their experienced management and dedicated employee base;
  • Marquee client base and repeat orders;
  • Diverse service offerings;
  • Designing and execution capability;
  • Timely completion of projects

Business strategies of Gensol Engineering Limited:

  • Improve performance and enhance returns from the core business
  • Increase their RESCO business operations
  • Expand their customer base
  • Optimal utilization of resources

Gensol Engineering Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & lakhs)
30-Sep-18 31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 3,721.12 2,680.83 998.56 549.88
Total Revenue 4877.30 7006.01 6231.77 1215.68
Total Expense 4448.99 6293.17 6065.41 1163.65
Profit After Tax 308.38 509.15 118.90 36.49

Earnings per Equity Share (in lakhs)

30-Sep-18 31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted EPS 5.10 8.43 1.97 0.60

From the above statements, one could find that the Gensol Engineering Limited may perform well.


Gensol Engineering IPO – Promoters

The Promoters of this company are:

  • Anmol Singh Jaggi
  • Puneet Singh Jaggi

List of Related Parties (Key Managerial Personnel)

  • Anmol Singh Jaggi, Promoter, Managing Director
  • Puneet Singh Jaggi, Promoter and Whole Time Director
  • Jabir Mahendi M Aga, Chief Financial Officer
  • Rajesh Parmar, Company Secretary and Compliance Officer

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Gensol Engineering IPO Offer Details or Issue Details

Particulars  No. Of Equity Shares
 Equity Shares Offered  Offer of Upto 24,16,000* Equity Shares of face value of Rs. 10/- each
fully paid up of the Company for cash at a price of Rs. [●]/- per Equity
share aggregating to Rs. [●] Lakhs.
 Of which:
Fresh Issue Upto 20,14,400* Equity Shares of face value of Rs. 10/- each fully paid
up of the Company for cash at a price of Rs. [●] /- per Equity share
aggregating to Rs. [●] Lakhs
Offer for Sale Upto 4,01,600* Equity Shares of face value of Rs. 10/- each fully paid of
the Company for cash at a price of Rs. [●]/- per Equity Share aggregating
to Rs. [●] lakhs.
Of which
 Reserved for Market Makers  Upto [●] Equity Shares of face value of Rs. 10/- each fully paid up of the
Company for cash at a price of Rs. [●] /- per Equity share aggregating to
Rs. [●] Lakhs.
Employee Reservation Portion Upto [●] Equity Shares of face value of Rs. 10/- each fully paid up of the
Company for cash at a price of Rs. [●]/- per Equity share not exceeding
5% of the Post Offer Equity Share Capital of the Company

 Net Issue to the Public 

Upto [●] Equity Shares of face value of Rs. 10/- each fully paid of the
Company for cash at a price of Rs. [●] /- per share aggregating to Rs. [●]
Lakhs.
 Of which:
 Retail Investors Portion  Upto [●] Equity Shares of face value of Rs. 10/-
 Non-Retail Investors Portion Upto [●] Equity Shares of face value of Rs. 10/-
 Equity Shares outstanding prior to the Issue 60,42,737 Equity Shares
 Equity Shares outstanding after the Issue Upto [●] Equity Shares of face value of Rs. 10 each

Gensol Engineering IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company:
  •  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company

Gensol Engineering IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Their experienced management and dedicated employee base;
  • Marquee client base and repeat orders;
  • Diverse service offerings;
  • Designing and execution capability;
  • Timely completion of projects

The relevant quantitative factors are:

On the basis of standalone statement:-

Basic & Diluted EPS RONW in % NAV (Rs.)
31-Mar-16 0.60 249.59
31-Mar-17 1.97 89.05
31-Mar-18 8.43 79.23
10.64
  • Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
Particulars P/E ratio
Highest 4.46
Average 4.46
Lowest 4.46
  • Competitive Peers:
Sr. No.  Particulars Face Value  (in Rs.) Basic EPS (In Rs.) P/E Ratio RONW (%)  NAV (In Rs.)
1 Gensol Engineering Limited 10 8.43 [●] 79.23 10.64
2 Zodiac Energy
Limited*
10 3.81 4.46 11.49 23.75

Gensol Engineering IPO Lead Managers

Lead Managers
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
406-408, Keshava Premises, Behind Family Court, Bandra Kurla
Complex, Bandra East, Mumbai – 400 051, Maharashtra, India
Tel: +91-22 6194 6700; Fax: +91-22 2659 8690
Website: www.pantomathgroup.com
Email:
Investor Grievance Id:
Contact Person: Hardik Bhuta / Unmesh Zagade
SEBI Registration No: INM000012110

Gensol Engineering IPO Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West),
Mumbai – 400 083, Maharashtra, India
Tel: +91 22 4918 6200; Fax: +91 22 4918 6195
Website: www.linkintime.co.in
Email:
Investor Grievance Id:
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Other Details:

  • Statutory Auditor –M/s K C Parikh & Associates
  • Peer Review Auditor – M/s K C Parikh & Associates
  • Bankers to the Company – ICICI Bank Limited

Gensol Engineering IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10

Gensol Engineering IPO Grey Market Premium

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Gensol Engineering IPO News

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