Winsol Engineers shares listed at a massive premium today (May 14) as the IPO listed at ₹365 apiece on NSE SME- 386% premium to the issue price of Rs75 per share.
Winsol Engineers’ ₹23.36-crore public offer consisted of a fresh issue of 31.15 lakh shares. The issue received robust subscription- Non-institutional investors bought 1,088 times their allotted quota, retail investors picked up 780 times their reserved portion and QIBs bought 207 times their share.
Winsol Engineers IPO details
The price band of the IPO was set at ₹71 to ₹75 per share. Through the issue, the company aimed to raise ₹23.36 crore at the upper-end of the price band. The IPO comprised of entirely a fresh issue of 31.15 lakh equity shares and the company said that it will use net proceeds from the IPO to meet working capital requirements and for general corporate purposes.
The book running lead manager of the IPO is Beeline Capital Advisors Pvt Ltd while Kfin Technologies is the registrar of the IPO.
More on Winsol Engineers
The company provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions for solar as well as wind power generation firms. As of April 2024, the company had more than 41 major ongoing projects with a total value of ₹119.53 crore, it said.