Trapped! Retail investors buy nearly 29 lakh Gensol Engineering shares in Q4 as shareholder count tops 1 lakh

Gensol Engineering share price: In an attempt to catch the falling knife that is Gensol Engineering, retail investors increased their holdings in the struggling stock during the March 2025 quarter — but now find themselves trapped.

The number of retail investors in Gensol Engineering has increased past the 1,00,000 mark in the recently concluded March quarter, when allegations of fraud, financial misconduct and corporate governance lapses by the company promoters came to light.

According to the latest shareholding pattern shared by the company, the number of retail investors rose by 13,443 to 1,04,458 in the March quarter. Meanwhile, the figure stood at 91,015 in the December 2024 quarter. The retail investors are signified as those who hold nominal share capital up to ₹2 lakh. As the shareholder count rose, so did the number of shares held by the retail investors.

The retail shareholders picked 28,88,363 shares of Gensol Engineering in the March quarter, taking their total stake in the company from 23.44% in December 2024 quarter to 30.68% in the March 2025 quarter. This comes at a time when promoter holdings in the company have nearly halved.

With the stock stuck in back-to-back lower circuits and only sell orders on the exchanges, retail investors are unlikely to find an exit anytime soon.

Gensol Engineering promoter holding halves

The promoters held a 62.65% stake in Gensol Engineering by the December quarter, with brothers Anmol Singh Jaggi and Puneet Singh Jaggi, owning 21.20% and 18.39%, respectively.

However, by the end of the March 2025 quarter, the overall promoter holding in the company declined to 35.87%, with Anmol Singh Jaggi's stake falling to 12.32% and Puneet Singh Jaggi's stake to 10.47%.

Even high-net-worth individuals (HNIs) in the company, who hold equity worth over ₹2 lakh, exited the company in the quarter under review. As per the shareholding pattern, the number of HNIs in Gensol Engineering declined to 48 from 111 on a quarter-on-quarter (QoQ) basis. However, their overall holding rose from 7.10% to 10.15% as of March 2025.

Gensol Engineering shares in freefall

Gensol Engineering shares, which have been in a freefall since February end amid the ongoing crisis at the firm, hit another 5% lower circuit limit on Tuesday, slumping to a fresh 52-week low level. The company on Monday said that the Directorate of Enforcement raided the premises of embattled Gensol Engineering and seized documents and electronic devices.

The financial impact of the search and seizure operation at its Gurgaon and Ahmedabad offices by the Directorate of Enforcement could not be ascertained, Gensol added.

Gensol Engineering share price dropped 4.97% to ₹82.20 on the BSE today, April 29, while the stock fell 5% to hit its lower circuit as well as a 52-week low level of ₹81.36 on the NSE. This is the 14th straight day of decline for the stock.

From its all-time high of ₹1,125.75, scaled on June 24, 2024, Gensol Engineering stock has cracked almost 92%, massively eroding shareholder value.

There were only sell orders for Gensol Engineering shares of 5,72,135 on the BSE and 36,71,270 on the NSE, as of 12.40 pm.

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