Ahmedabad : Gensol Engineering Limited (BSE: 542851) (NSE: GENSOL), a leading 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 an exceptional growth trajectory and is leading the green energy and clean mobility revolution. Gensol has achieved significant advancements in Solar EPC, EV Leasing, and EV Manufacturing sectors. 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 fund raise saw participation from distinguished 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 fund raise, Mr. Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Limited said, “We continue to build on our successful financial performance through the latest fund raise. 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 trust placed in our vision and growth trajectory by the investor community”.