Gensol Engineering Limited has successfully secured a substantial Rs 9 billion in equity capital through the issuance of convertible warrants on a preferential basis. The equity capital infusion witnessed involvement from both global and domestic participants, encompassing foreign portfolio investors like Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund.
The fundraising is contingent on obtaining approval from the shareholders during the Extraordinary General Meeting scheduled for March 2, 2024, and meeting statutory requirements in accordance with SEBI Regulations.
Recently, in January 2024, Gensol bagged a Rs 1.5 billion contract from Sarda Energy & Minerals Limited for the deployment of a 50 MW DC (33 MW AC) solar power plant in Chhattisgarh.
In November 2023, Gensol Engineering Limited bagged engineering, procurement and commissioning contract from NHPC Limited for green hydrogen-based mobility station in Kargil, Ladakh.
In October 2023, Gensol secured a grid-connected 62 MW AC solar photovoltaic project from Maharashtra State Power Generation Company Limited. The project will be located at Akola district of Maharashtra.
