Winsol Engineers SME IPO to open on May 6, price band set at Rs 71-75 per share

Winsol Engineers' IPO price band is set at Rs 71 to Rs 75 per share. The IPO's lot size is 1,600 shares. At the high end of the pricing band, the firm intends to raise Rs 23.36 crore through a book-built offering of 31.15 lakh equity shares. Retail investors can invest as little as Rs 1,20,000 in the Winsol Engineers IPO, which is an SME offering.

Proceeds from the fresh issue will be used for funding working capital requirements and for general corporate purposes. Source: PTI

Winsol Engineers, a company that provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions for solar and wind power generation firms, is set to open its initial public offering (IPO) on May 6.

The initial share sale will conclude on May 9.

Winsol Engineers' IPO price band is set at Rs 71 to Rs 75 per share. The IPO's lot size is 1,600 shares. At the high end of the pricing band, the firm intends to raise Rs 23.36 crore through a book-built offering of 31.15 lakh equity shares. Retail investors can invest as little as Rs 1,20,000 in the Winsol Engineers IPO, which is an SME offering.

Proceeds from the fresh issue will be used for funding working capital requirements and for general corporate purposes.

The Winsol Engineers IPO allocated 50 per cent of the net issue to qualified institutional buyers (QIB), 35 per cent to retail investors, and the remaining 15 per cent to non-institutional investors.

Beeline Capital Advisors Pvt Ltd is acting as the book-running lead manager while Kfin Technologies Limited is the IPO registrar of the Winsol Engineers IPO.

Winsol Engineers' business

EPC firm Winsol is working on more than 41 projects currently with a total value of around Rs 119.53 crore. The promoters Ramesh Pindariya, Amri Pindariya, Pindariya Kashmira, Kashish Pindariya, and Kishor Pindariya's shareholding will come down to 72.99 per cent after the IPO from 100 per cent.

In FY23, the company had a net profit of Rs 5.18 crore upon revenue of Rs 65.44 crore.

Recently, stainless steel products maker Sai Swami Metals & Alloys Ltd hit the markets. The IPO subscribed over 543 times on the final day (Friday, May 4). The SME IPO attracted bids for 128.98 crore equity shares against the net issue size of 23,72,000 equity shares on offer, translating into oversubscription of more than 543 times.

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