Gensol Engineering Raises Rs 900cr Equity Through Preferential Round

Gensol Engineering Raises Rs 900cr Equity Through Preferential Round

Gensol Engineering Limited, a renewable energy and electric mobility pioneer, today raised a significant Rs 900 crore (Rs 9 billion) equity capital through warrants convertible into equity shares on a preferential basis. This major milestone comes at a juncture when Gensol is on a growth trajectory and is leading the green energy and clean mobility revolution.

Gensol has been operational and several green sector businesses like Solar EPC, EV Leasing, and EV Manufacturing. The company’s dedication to innovation and environmental stewardship drives its continued progress, aiming for a 5X growth within the next three years.

The equity fundraise saw participation from several international and domestic participants, including FPIs such as Elara India Opportunity Fund, Aries Opportunities Fund, Tano Investment Opportunities Fund, etc.

The capital raise is subject to shareholders’ approval at the EGM of the company to be held on 2 March, 2024 and statutory approvals in compliance with SEBI Regulations.

Commenting on the fundraise, Anmol Singh Jaggi, Chairman and Managing Director of Gensol Engineering Limited, said, “We continue to build on our successful financial performance through the latest fundraise. This capital infusion strengthens Gensol’s financial position, facilitating new possibilities with funds being deployed for working capital, inorganic growth opportunities, and further investment in our subsidiaries. Our priority remains delivering value to shareholders and customers while solidifying our commitment to playing a key role in India’s transition to green energy and clean mobility. We highly value the investor community’s trust in our vision and growth trajectory”.