Gensol Engineering has increased the issue size of its Qualified Institutional Placement fundraise to Rs 750 crore. The company had announced Rs 500 crore QIP in the board meeting held on August 12.
The company informed the shareholders through an exchange filing that the board of directors of the company at their meeting held today on Friday, September 6 approved the issue size from Rs 500 crore to Rs 750 crore by addition of Rs 250 crore.
The company deals in the renewable energy sector, specialising in solar power engineering, procurement and construction (EPC) services, along with electric mobility solutions.
The stock closed in red in Friday's trading session at Rs 931.90 per share on the NSE, down by 0.66 percent. In the last six months, the stock moved higher by nearly 7 percent on the NSE.
Earlier in June, the company bagged an additional 250 MW/500 MW Battery Energy Storage System Project (BESS) from GUVNL, taking its order book to Rs 3,100 crore in the segment. Gujarat Urja Vikas Nigam Limited (GUVNL) had earlier awarded the company a BESS project in a similar capacity.
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