Gensol Engineering Plans ₹600 Crore Fundraise for Growth:

Struggling with EPC activities, Gensol Engineering is looking to raise funds aimed at improving its financial situation to the tune of Rs 600 crores.

The board sanctioned two ruins. Initially, Rs 400 crores will be collected by way of issuing Foreign Currency Convertible Bonds (FCCBs). Then, Rs 200 crores will be collected by selling warrants to promoters.

Gensol Engineering has claimed through an exchange filing that, “This strongly illustrates the realization of the company’s priorities toward sustainable growth, debt pay down, and stakeholder value creation.”“Alongside these, we expect substantial improvement of Gensol’s debt equity ratio from the company’s other active dismantling of assets, including selling some vehicles and a holding company,” said the firm.