Small cap renewable energy and electric mobility pioneer, Gensol Engineering Ltd shares witnessed gain of 1.06% in early morning trade on Bombay Stock Exchange (BSE). Current market price of the scrip on BSE stood at Rs 579.00 per share as Sensex gained 53.71% at the time of writing the story. Gensol Engineering informed via its press release that it has inked a non-binding Term Sheet for an INR 350 crore strategic transaction involving the sale of its US subsidiary, Scorpius Trackers Inc., to a major Renewable Energy Solutions provider in the US.
The deal includes the transfer of exclusive and global Intellectual Property (IP) rights (except India) for Scorpius Trackers’ advanced solar tracking technology. Meanwhile, the company has a market capitalisation of Rs 2,200.34 crore. The return on equity (ROE) stood at 19.97%. Check more details below:
Gensol Engineering Inks Deal
The exchange filing added, “this transaction underscores Gensol’s strategy to monetize high-value assets, unlock capital from its subsidiaries, and reinvest in its core growth areas, strengthening the company’s financial position. The deal will be completed in two tranches, with full closure expected by March 2026, subject to due diligence, customary/statutory approvals, and closing conditions.”
Anmol Jaggi, Chairman & Managing Director, Gensol Engineering Limited. “This deal is a testament to the inherent value within Gensol’s subsidiaries and the strength of our innovation-driven approach. The monetization of Scorpius Trackers’ US business enables us to reinvest in high-growth opportunities in India while strengthening our financial position. This marks a significant milestone in our journey to enhance shareholder value and accelerate our leadership in renewable energy.”
Shailesh Vaidya, CEO, Scorpius Trackers, added, “This agreement positions Scorpius Trackers for rapid growth in the US market while allowing us to retain our market focus in India.”
Gensol Engineering Shares Performance
The 52-week high price of Gensol Engineering shares on BSE is Rs 1271.10 per share (as on 28/02/2024) and 52-week low price is Rs 524.15 apiece (as on 17/02/2025), respectively. Gensol Engineering shares fell over 18% in last 2-weeks, slipped 38.21% in last 6-months, and plunged 52.90% in last 1-year.
Shareholding
It is worth mentioning FII/FPI have decreased holdings from 2.30% to 0.63% for December 2024 quarter. Number of FII/FPI investors decreased from 19 to 15 for December 2024 quarter. Institutional Investors have decreased holdings from 2.30% to 2.00% for December 2024 quarter, according to Trendlyne.
Gensol Engineering Bonus Issue In 2023
The company earlier in 2024 announced 2:1 bonus share and declared October 17 as the record date for bonus issue. It also declared bonus shares in 2021. The company never recommended dividend and stock split.
Disclaimer: The story highlights strategic deal and should not be considered as investment advice by the Moneydaily.in or the Author. Moneydaily.in and the author will not be held responsible for any losses caused as a result of decisions based on the above information. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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