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
CriteriaRatings
Industry Sentiments7.5/10
Industry Ranking7.1/10
Company Background7.3/10
Company Reputation7.2/10
Competitive Edge7.7/10
Financial Statements7.1/10
Popularity Index7.4/10
Promoters Reputation7.7/10
Retail Appetite7.1/10
Top Brokers Review7.9/10
Overall Ratings7.4/10
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 2,160,000 Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. 81- Rs. 83 per Equity share aggregating to Rs. 17.93 Crores.

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. It is a Book Built Issue IPO.


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    Gensol Engineering IPO Date

    The opening and the closing date of Gensol Engineering IPO is Sep 30, 2019 – Oct 4, 2019.


    Gensol Engineering IPO Subscription

    Day / DateNIIRIITotal Subscription
    1st Day – Sep 301.33x0.05x0.69x
    2nd Day – Oct 11.35x0.11x0.73x
    3rd Day – Oct 31.44x0.17x0.80x
    4th Day – Oct 42.27x0.37x1.32x
    Shares Offered or Net Issue1,025,6001,025,6002,051,200

    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.

    Basis of Allotment FinalizationOct 10, 2019
    Refunds InitiationOct 11, 2019
    Credit of Shares to Demat AccountOct 14, 2019
    Share Listing DateOct 15, 2019

    Gensol Engineering IPO Price Band

    The face value of each share is Rs 10, but the price band of the IPO is Rs. 81- Rs. 83. 


    Gensol Engineering IPO Equity Share Offering / Size

    Initial public Offering of Upto 2,160,000 Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. 81- Rs. 83 per Equity share aggregating to Rs. 17.93 Crores.


    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)
    31-Mar-1931-Mar-1831-Mar-1731-Mar-16
    Total Assets4,288.662,680.83998.56549.88
    Total Revenue8,385.437006.016231.771215.68
    Total Expense6234.356293.176065.411163.65
    Profit After Tax649.68509.15118.9036.49

    Earnings per Equity Share (in lakhs)

    31-Mar-1931-Mar-1831-Mar-1731-Mar-16
    Basic & Diluted EPS5.108.431.970.60

    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 Initial public Offering of Upto 2,160,000 Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. 81- Rs. 83 per Equity share aggregating to Rs. 17.93 Crores.
     Of which:
    Fresh IssueUpto 20,14,400* Equity Shares of face value of Rs. 10
    Offer for SaleUpto 4,01,600* Equity Shares of face value of Rs. 10/- each 
    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 PortionUpto [●] 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 PortionUpto [●] Equity Shares of face value of Rs. 10/-
     Equity Shares outstanding prior to the Issue60,42,737 Equity Shares
     Equity Shares outstanding after the IssueUpto [●] 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 EPSRONW in %NAV (Rs.)
    31-Mar-160.60249.59
    31-Mar-171.9789.05
    31-Mar-188.4379.23
    10.64
    • Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
    ParticularsP/E ratio
    Highest4.46
    Average4.46
    Lowest4.46
    • Competitive Peers:
    Sr. No. ParticularsFace Value  (in Rs.)Basic EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
    1Gensol Engineering Limited108.43[●]79.2310.64
    2Zodiac Energy
    Limited*
    103.814.4611.4923.75

    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: ipo@pantomathgroup.com
    Investor Grievance Id: ipo@pantomathgroup.com
    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: gensol.ipo@linkintime.co.in
    Investor Grievance Id: gensol.ipo@linkintime.co.in
    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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking7.5/107.4/108.5/108.1/107.1/10
    Sharekhan7.2/107.1/108.6/108.1/107.2/10
    Kotak Securities7.3/107.5/108.4/108.1/107.3/10
    ICICI Direct7.3/107.3/108.7/108.1/107.1/10
    IIFL7.5/107.2/108.8/108.0/107.1/10
    Edelweiss7.5/107.4/108.4/108.3/107.2/10
    Zerodha7.4/107.1/108.5/108.1/107.0/10
    5Paisa7.1/107.1/108.4/108.1/107.1/10
    Karvy7.4/107.3/108.2/108.1/107.1/10
    Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

    Gensol Engineering IPO Grey Market Premium

    The Gensol Engineering IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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      Gensol Engineering IPO News

      News 1 – IPO ISSUE OPENS SOON [Download Prospectus]


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