- By Aditya Pratap Singh
- Mon, 14 Apr 2025 06:13 PM (IST)
- Source:JND
Gensol Engineering News: Despite a sharp drop in its share price, Gensol Engineering, a provider of renewable energy solutions, has announced several strategic initiatives. To boost stock liquidity and make equity shares more accessible to investors, the company's board has approved a split of its equity shares from Rs 10 to Rs 1 each. The announcement is made at a time when Gensol's stock has plummeted, plunging to Rs 133.20 from its 52-week peak of Rs 1,125.75.
Separately, the business has offered its promoter group a special proposal for the preferential issuance of securities.
Gensol has started construction on a ground-mounted solar project in Panchet town, Dhanbad district, Jharkhand, further enhancing its renewable portfolio. The project, which spans 40 acres, is anticipated to produce more than 15 million units of clean energy annually, compensating for 21,000 metric tonnes of CO2 emissions annually. Five years of operations and maintenance support are also included in the project, which was created under an EPC contract worth Rs 400 million.
In keeping with its financial goals, Gensol has also approved a plan to raise Rs 600 crore to lower debt, improve its balance sheet, and spur long-term growth. Foreign Currency Convertible Bonds (FCCBs) will raise 400 crore of the total, while promoter warrants will raise 200 crore.
The company's debt has increased from Rs 589 crore to Rs 1,146 crore, according to recent disclosures, giving it a debt-to-equity ratio of 1.95. These calculated actions demonstrate Gensol Engineering's determination to overcome financial obstacles and keep growing its clean energy presence in India.
(With Inputs From PTI)
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