Winsol Engineers, a company specializing in integrated engineering solutions for solar and wind power, opened its IPO on May 6, 2024, aiming to raise Rs 23.36 crore. The IPO has garnered significant attention from investors, with the subscription reaching 10.64 times as of 12:33 PM.
Subscription and Details
The IPO, offering 3.1 million fresh shares, has attracted investors with its promising prospects. The minimum lot size for retail investors is 1,600 shares, amounting to Rs 1,20,000, while for high-net-worth individuals (HNIs), it is 3,200 shares, equivalent to Rs 2,40,000.
Price Band and GMP
Winsol Engineers IPO is priced in the range of Rs 71 to Rs 75 per share. With a Grey Market Premium (GMP) of 130, there is anticipation of a substantial listing gain of 173.33% on the bourses.
Allotment and Listing
The IPO allotment status is expected to be finalized on Friday, May 10, with refunds for non-allottees scheduled by Monday, May 13. Successful applicants will see shares credited to their Demat accounts on the same day. Winsol Engineers IPO shares are set to be listed on the NSE SME platform, Emerge, on Tuesday, May 14.
Lead Managers and Registrars
Beeline Capital Advisors Pvt Ltd is the book running lead manager for the IPO, while Kfin Technologies Limited serves as the registrar. Spread X Securities acts as the market maker for the IPO, ensuring a smooth listing process.
Financial Performance
Winsol Engineers has exhibited robust growth, driven by its focus on higher-margin offerings. In FY23, the company reported a total revenue of Rs 65.45 crore and a net profit of Rs 5.18 crore. For the 9 months ending on December 31, 2023, it achieved a net profit of Rs 6.77 crore on a total revenue of Rs 52.02 crore.
Conclusion
With strong financial performance and promising growth prospects, Winsol Engineers IPO presents an attractive investment opportunity for investors seeking exposure to the renewable energy sector. The significant oversubscription and high GMP indicate positive market sentiment towards the company, making it one to watch in the upcoming listing.
