About the Company:
Gensol Engineering Limited (“Gensol”) is a Solar Design & Engineering company providing concept to commissioning solar advisory, engineering review, detailed engineering, construction supervision for projects in India and abroad.
company has a team of more than 500 employees and an experience of providing technical expertise over 19,000+ MW.
Company provides a 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.
Company also undertakes turnkey Engineering, Procurement and Construction contracts under it’s EPC Business, with international footprints.
Company is ISO 9001:2015 certified Company for solar consultancy and EPC and has, so far, erected solar power plants with a cumulative capacity of more than 188 MW
on roofs as well as lands.
Company’s International Presence:
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. Company also has an ongoing EPC project in Egypt.
Services Provided by the Company:
- Solar Advisory Services
- Solar EPC Services
- Solar O&M Services
- RESCO Services (Renewable Energy Services)
Solar EPC Services:
In EPC segment, Company has been part of around 53 projects having aggregate capacity of 190 MW spanning over roof-top (I&C) and ground mount (I&C).
However our key focus in Solar EPC services, has been over roof top andmainly provide such services to corporates, institutions or commercial establishments.
At present, company has ongoing projects in around 7 states such as Rajasthan, Maharashtra, Gujarat, Karnataka, etc. and also has an international Solar EPC contract being undertaken in Egypt.
Company’s Clients:
- Avaada Energy Pvt Ltd
- Oriano Clean Energy Pvt Ltd
- Maharashtra State Power Generation Company Ltd
- Mytrah Energy (India) Private Ltd
- Adani Green Energy (UP) Ltd
Some of the Completed Projects:
Company’s Ongoing Projects:
Company’s Joint Venture:
Gensol entered into a Joint Venture with Solarig N-Gage SA from Spain in March 2015, which has a global O&M experience to offer Operation & Maintenance Services (O&M Business) in India under Solarig Gensol Utilities Private Limited (“SGUPL”).
SGUPL provides preventive, corrective & predictive maintenance, modules cleaning & vegetation abatement, facility management, vendor warranty coordination etc. through computerized maintenance management system.
SGUPL is maintaining over 2200+ MWp and has performed health diagnosis via IV-Curve, string testing and thermal imaging.
Subsidiary of the Company:
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.
GRPL has already entered into Power Purchase Agreement (PPA) with 3 clients for selling electricity generated from a cumulative 1.4MW Solar PV capacity.
Competition in the Business:
Among listed companies, Zodiac Energy Limited is offering services similar to Gensol Engineering Ltd.
Further there are other listed peers, such as Waa Solar Limited and K.P.I. Global Infrastructure Limited who are engaged in business activities which company proposes to carry out in the subsidiary Company.
Management Team:
- Mr. Anmol Singh Jaggi (Designation: Managing Director)
- Mr. Puneet Singh Jaggi (Designation: Whole Time Director)
Objectives of the Issue:
- Funding the working capital requirements of the Company.
- General corporate purposes.
Financials of the Company:
| (in Crores) | FY 17 | FY 18 | FY 19 |
|---|---|---|---|
| Revenue | 62.31 | 69.64 | 83.85 |
| Net Profit | 1.18 | 5.33 | 6.49 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 30th September 2019 |
| Issue Closes on:. | 4th October 2019 |
| Issue Price | Rs.81 – 83 |
| Face Value | Rs.10 |
| Minimum Lot | 1600 Shares |
| Minimum Investment | Rs.1,32,000 |
| Issue Constitutes | 26.33% |
| Issue Size | Rs. 17.92 cr |
| Market Cap | Rs. 68.08 cr |
| Listing at | BSE SME |
| Equity Shares Offered (Fresh) | 21,60,000 |
| Equity Shares Prior to the Issue | 60,42,737 |
| Equity Shares after the issue | 82,02,737 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 10th October 2019 |
| Initiation of Refunds | on or Before 11th October 2019 |
| Credit of Equity Shares: | on or Before 14th October 2019 |
| Listing Date: | on or Before 15th October 2019 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 10.75 | 7.72 | 49.81% | 21.58 |
| Check IPO Allotment Status: |
|---|
Link InTime Website (Click on the below Link)https://linkintime.co.in/PublicIssue/ |
| Company Contact Info: |
|---|
| GENSOL ENGINEERING LIMITED SCO: 156-157, Sector 9C, Madhya Marg, Chandigarh – 160031, India Tel: 0172 – 4140004 Email: communications@gensol.in Website: www.gensolsolar.com |
| IPO Registrar Info: |
|---|
| 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 Email: gensol.ipo@linkintime.co.in Website: www.linkintime.co.in |
| Lead Manager to the Issue: |
|---|
| 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 Email: ipo@pantomathgroup.com Website: www.pantomathgroup.com |
