Gensol Engineering had a huge day on Friday as the company announced it would immediately re-sign Jabirmahendi Aga as the new chief financial officer (CFO). The announcement injects fresh buys into Gensol Engineering’s share price as the stock rebounds from 52-week lows ₹307.25 on NSE, in Friday morning trade. Gensol Engineering’s share price is finally over ₹327 shares per share, up about 6.50% from the 52-week low. However, Dalal Street was surprised before the market ended when the company announced on March 23, 2025 that the board meeting considered and approved the proposal for a 1:10 share split and raised funds by issuing new shares. But the company’s management doesn’t end here. The company has announced again that the promoters have announced that they will uninstall its 2.37% stake to unlock liquidity and reinvest in the business.
Gensol Engineering informed the Indian stock market about the exchange of liquidity release migration, saying: “The promoters sold approximately 2.37% of the total company’s total shares, totaling 900,000 shares, to unlock liquidity that will reinvest liquidity into the business through equity injections. This is part of a strategy to enhance the company’s balance sheet and support stability.”
Their commitment was further highlighted that the promoters will receive the exact amount in the “sales” executed on June 18, 2024, or more in the warrant subscription, providing the company with additional capital for growth.
Following this transaction, the promoters hold 59.70% of the shares, reflecting their firm dedication to Gensol’s journey to deliver value to all stakeholders while driving the clean energy transition.
According to a previous Livemint report, the Ahmedabad-based solar plant construction company faces the challenge of repaying one of its largest lenders, the Renewable Energy Development Agency (IREDA). However, an IREDA spokesman has clarified that Gensol’s loans have not performed poorly.
Gensol’s financial challenge surfaced publicly on March 3, when Care Ratings Ltd was downgraded ₹The bank loan default of 716 million yuan was due to delaying the “term loan obligation”. The next day, ICRA Ltd lowered the loan to default and pointed out that the company was “apparently forged” information about its debt services.
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