Gensol board allots equity shares to promoter on conversion of warrants

Electrical Equipment maker Gensol Engineering Limited announced on Monday, March 10, that the company has allotted its promoters equity shares through the conversion of their share warrants into equity shares, according to an exchange filing. 

“Gensol Engineering Limited is pleased to announce that promoters of the company are reinforcing long-term confidence in Gensol’s vision by infusing Rs. 28,99,99,885.50/- (Nearly ₹29 crore) through the conversion of warrants into equity,” said the company in the BSE filing.

According to the filing data, the promoter share warrants will be converted into 4,43,934 equity shares at a price of ₹871 per share.

“This step reaffirms the promoters’ deep-rooted commitment to Gensol’s strategic expansion in renewable energy and electric mobility, ensuring the company is well capitalized,” said the company. 

This move from the firm comes after the promoters sold 2.37 per cent of their total equity, amounting to 9 lakh shares. The company called this a move for “unlocking liquidity” and reinvestment into the business.

“This investment follows a recent strategic decision by the promoters to unlock liquidity through an equity stake sale with proceeds reinvested into the company,” said the company in the BSE filing on Monday.

Gensol Engineering Share Price

Gensol Engineering shares closed 5 per cent lower at ₹305.15 after Monday's trading session, compared to ₹321.20 at the previous stock market close. The announcement of the conversion of share warrants to equity shares came after market operating hours on March 10. 

Gensol shares hit their 52-week high level at ₹1,125.75 on June 24, 2024, while the 52-week low was at ₹303 on March 7, 2025. The shares are now trading above the year-low levels, according to data collected from the BSE website.

In the last five years, Gensol Engineering shares have given stock market investors more than 1,300 per cent return on their investment. However, the shares have lost 66.79 per cent in the last one-year period. The stock is trading 60.52 per cent lower on a year-to-date (YTD) basis in 2025.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.