On Friday, Gensol Engineering announced that its board will hold a meeting on March 13, 2025, to talk about splitting the company’s shares. Currently, each share is worth Rs 10, and if the board agrees, this will be the first time the company splits its shares. A stock split means that the company divides its existing shares into smaller parts, which can make shares more affordable for investors.
The company will also discuss how to raise money by selling more shares, foreign currency convertible bonds, or other financial instruments. These ideas will need approval from shareholders and regulators before they can go ahead.
In another update, Gensol Engineering’s promoters (the main people behind the company) sold 2.37% of their shares, which is about 9 lakh shares. They plan to use the money from this sale to help the company grow even more. After selling these shares, the promoters still hold a 59.70% ownership of Gensol Engineering.
Recently, the company’s stock has dropped significantly, losing 70% of its value over the last eight trading sessions. This decline started in late February and got worse after credit rating agencies, CARE and ICRA, lowered their ratings on the company. On Friday, Gensol Engineering’s shares closed down 4.2% at Rs 321.20.
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