Shares of Gensol Engineering Ltd. declined nearly 5% on March 11, trading at ₹291.05, as the stock faced selling pressure despite a major capital infusion by its promoters. The decline comes amid a broader market trend and concerns over recent credit rating downgrades, which have impacted investor sentiment. However, in a move aimed at reinforcing long-term confidence, Gensol’s promoters have infused ₹29 crore into the company through the conversion of warrants into equity shares.
The promoters converted 4,43,934 warrants into equity shares at ₹871 per share, underscoring their strong commitment to the company’s growth in renewable energy and electric mobility sectors. This strategic capital infusion follows a recent equity stake sale by the promoters, with the proceeds reinvested into the company to strengthen its financial position. The move is expected to bolster Gensol’s expansion plans and provide the necessary liquidity to support its ambitious projects.
Despite the stock’s decline, Gensol Engineering continues to position itself as a key player in renewable energy and electric mobility, with strong promoter backing. Investors are closely watching how the company navigates its recent challenges, including credit rating concerns and stock volatility, while leveraging this fresh capital to drive long-term sustainable growth.
