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.

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"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.