Gensol Engineering allocates 61.83 lakh warrants - Details

Gensol Engineering Ltd. - which offers engineering, procurement and construction (EPC), and solar advisory services - has informed exchanges that its board has approved the allotment of 61.83 lakh warrants on a preferential basis to the promoters and non-promoters of the company. According to an exchange filing, the promoters of the company were allocated 15,25,000 warrants non-promoters were allocated 46,58,735 warrants.

"Considered and approved the allotment of 61,83,735 convertible warrants at an issue price of Rs 871 each (Warrant Issue Price), aggregating up to Rs 5,38,60,33,185 on a preferential basis to the non-promoters and promoter of the company," the company said in an exchange filing.   

Gensol Engineering Limited is a part of the Gensol group of companies. Gensol has also established an electric vehicle (EV) manufacturing facility in Pune, India, for the development and production of electric three-wheelers and four-wheelers.

Over the years, Gensol has installed ground-mounted and rooftop solar power plants with a combined capacity of 600 MW.

The company has also established an electric vehicle (EV) manufacturing facility in Pune for the development and production of electric three-wheelers and four-wheelers.