Mukul Agrawal’s portfolio multibagger stock with Rs 531 crore order book: Board likely to raise funds via preferential issue of shares; FIIs increase stake!
The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 3,500 per cent in 3 years.
Gensol Engineering Ltd informed that a meeting of the Board of Directors of the company will be held on Monday, January 1, 2024, inter alia:
1) To consider and approve the proposal of raising funds by way of issuance of equity shares or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required and the approval of shareholders of the Company.
2) Any other matter with the permission of the chair.
Gensol Engineering Limited provides renewable energy project development services. The company constructs solar plants. Gensol Engineering serves customers in India.
Rising Indian EV star Gensol, founded in 2022, is revving up for an electrifying debut with its innovative electric car, tantalizing consumers with a glimpse of its daring design and ambitious production plans. Their state-of-the-art Pune plant, soon ARAI-approved, readies to churn out 30,000 cars yearly, while hints of a sleek silhouette, futuristic wheels, and unique features promise a head-turning reveal in March 2024. BluSmart ride services and a 300-EV order for the Odisha government solidify Gensol's commitment to transforming India's urban mobility through a comprehensive EV ecosystem.
An ace investor, Mukul Agarwal holds a significant stake (1.64 per cent) in the company. The company is well-positioned for continued growth, as it has secured multiple orders for EPC and other related work. As of September 30, 2023, the company’s order book stands at Rs 531 crore and FIIs increased their stake to 2.57 per cent.
The company had a market cap of over Rs 2,900 crore. The shares of the company have an ROE of 21.4 per cent and an ROCE of 12.4 per cent. The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 3,500 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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