Gensol News: Friday was an exciting day for Gensol Engineering because the business announced that Jabirmahendi Aga would be reappointed as its new CFO (Chief Financial Officer) effective immediately. When the stock recovered from ₹307.25 per share (52-week low on the NSE), which was reached during Friday morning transactions, this announcement stimulated new buying in Gensol Engineering’s share price. The price of Gensol Engineering’s shares ultimately closed at ₹327 per share, up about 6.50% from the 52-week low. Let’s pay attention to the latest Gensol news and get a hold of its recent developments.
Gensol News & Recent Development
As per the recent Gensol news, the corporation shocked Dalal Street by calling a board meeting on March 23, 2025, to discuss and adopt the plan for a stock split of 1:10 and to generate money by issuing new shares before the market closed. The administration of the corporation, however, didn’t stop here. The company announced that its promoters were selling their 2.37% ownership in order to free up funds for further corporate investments.
“To unlock liquidity that will be reinvested in the business through equity infusion, out of the company’s total equity shares, approximately 2.37% have been sold by the promoters, amounting to 9,00,000 shares,” Gensol Engineering told the Indian stock market exchanges of the liquidity unlocking move. This action is a component of a plan to support stability and strengthen the company’s balance sheet.
Gensol News: Promoters Contribution
To further demonstrate their dedication, the promoters will contribute the full amount obtained from the sale or more in the subscription of the warrant round that was carried out on June 18, 2024, giving the business further growth capital. The promoters now own a sizeable 59.70% share in Gensol as a result of this transaction, demonstrating their unwavering commitment to the company’s mission of providing value to all stakeholders and advancing the clean energy transition.
Gensol News Regarding Loan Obligations
Due to a hold-up in the “servicing of term loan obligations,” Care Ratings Ltd. downgraded Gensol’s ₹716 crore bank loan to default on March 3, bringing the company’s financial difficulties to the public’s attention. ICRA Ltd. reduced the loans to default the next day, claiming that the business “apparently falsified” facts regarding its debt servicing.
As per several reports, the solar plant construction company based in Ahmedabad is having trouble repaying the IREDA (Indian Renewable Energy Development Agency), one of its biggest lenders. But an IREDA representative has explained that Gensol’s loans are still in effect.
Conclusion
Although the Gensol news is quite intriguing, in the last eight trading sessions, Gensol Engineering’s stock has dropped 70%. The decline started in February and accelerated when CARE and ICRA downgraded the debt rating several times. On the BSE, Gensol Engineering’s stock ended Friday’s trading session 4.2% lower at ₹ 321.20. It seems like it’s going to be a ‘journey of wait’ for the investors if further trading sessions continue with a dip.
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