Winsol Engineers was incorporated on December 30, 2015, and is based in Jamnagar. It is an integrated engineering, procurement, construction, and commissioning company that provides balance of plant (BoP) solutions for wind and solar power generation companies. Its core services for BoP solutions include foundation work, civil and electrical work for substations, right of way services, cabling to substations and grids, and miscellaneous work.
| Bidding Dates |
|---|
| 06 May 2024 - 09 May 2024 |
| Subscription |
|---|
| 635.71x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,13,600 | 1 | 1 | 1600 | 3.1 M | ₹71 - ₹75 | 72.99 % | ₹221.2 M - ₹233.6 M | RHP DOC |
Winsol Engineers IPO SUBSCRIPTION STATUS
09 May '24Winsol Engineers IPO overall subscription rate was 635.71 times the total available shares
Winsol Engineers IPO retail subscription rate was 1038.7 times in the retail segment
Winsol Engineers IPO non-institutional investor subscription rate was 1447.03 times in the non-institutional investor category
Winsol Engineers IPO Qualified Institutional Bidder subscription rate was 110.23 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
09 May 2024 (Day 4) | 1038.7x | 1447.03x | 110.23x |
08 May 2024 (Day 3) | 473.44x | 265.82x | 8.81x |
07 May 2024 (Day 2) | 241.75x | 133.46x | 0.65x |
06 May 2024 (Day 1) | 69.5x | 29.81x | 0.6x |
Winsol Engineers FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 67.7 | 519.5 | 63.4 | 61.7 | 7.0% |
| FY23 | 51.8 | 653.9 | -9.3 | -10.4 | 3.7% |
| FY22 | 10.8 | 607.0 | -3.6 | -3.8 | 12.0% |
| FY21 | 4.9 | 221.6 | -16.4 | -21.0 | 19.0% |
Winsol Engineers IPO SUBSCRIPTION STATUS DETAILS
Winsol Engineers had 3.1 M shares on offer
Winsol Engineers IPO offer price was in the range ₹71 - ₹75
Winsol Engineers IPO minimum Investment was ₹113600
Winsol Engineers IPO issue size was ₹ 221.2 M - ₹ 233.6 M
Winsol Engineers had a minimum lot size of 1600 Shares per application
Winsol Engineers NUMBER OF SHARES ON OFFER
Winsol Engineers IPO IMPORTANT DATES
| Issue Open Date | 06 May 2024 |
| Issue close Date | 09 May 2024 |
| Allotment Date | 10 May 2024 |
| Refund Date | 13 May 2024 |
| Demat Account Credit Date | 13 May 2024 |
| Listing Date | 14 May 2024 |
| Listing on Exchange(s) | NSE |
| Winsol Engineers Allotment Status | Exchange |
Winsol Engineers IPO subscription opened on 06 May 2024, and closed on 09 May 2024
IPO allotment for Winsol Engineers was finalized on Friday, 10 May 2024
IPO listing for Winsol Engineers was on NSE on Tuesday, 14 May 2024
Winsol Engineers IPO LISTING GAINS
| Issue Price (adjusted) | 75.0 |
| Listing Open Price | 365.0 |
| Listing Close Price | 383.3 |
| Listing Gain% | 386.7% |
| Current Gain% | 49.3% |
Winsol Engineers Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winsol Engineers Ltd. | 112 | 129.2 | 9 | 0.4 | 0.9 | 22.5 | 9.1 | 137.2 | 23.1 | 14.4 | 22.1 | 12.5 | 22.1 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Winsol Engineers INFORMATION ON IPO ISSUE
About Winsol Engineers
Winsol Engineers was incorporated on December 30, 2015, and is based in Jamnagar. It is an integrated engineering, procurement, construction, and commissioning company that provides balance of plant (BoP) solutions for wind and solar power generation companies. Its core services for BoP solutions include foundation work, civil and electrical work for substations, right of way services, cabling to substations and grids, and miscellaneous work.
Object of the Issue
- Working capital requirements
- General corporate purposes
Winsol Engineers - PROMOTERS
| Name |
|---|
| Ramesh Jivabhai Pindariya |
| Amri Ramesh Pindariya |
| Pindariya Kashmira |
| Kashish Ramessh Pindariya |
| Kishor Jivabhai Pindariya |
Winsol Engineers Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Winsol Engineers Registrar to the issue
Kfin Technologies Private Limited
npil.ipo@kfintech.com
Winsol Engineers Strengths
End-to-end capabilities
The company's strong execution capabilities, comprising robust in-house operations that include design, engineering, procurement, construction, and quality assurance teams, have been a critical factor contributing to its growth story
Optimal utilization
The company is continually striving to enhance its execution processes and capabilities, upgrade the skills of its employees, and modernize its plant and machinery to optimize the utilization of resources
Long-standing relationships
The company's reputation for completing projects on time and its focus on quality have helped it build strong relationships with clients
Winsol Engineers Risks
Outstanding litigation
The company is currently facing certain outstanding litigation, and an adverse outcome of this litigation could negatively impact the business, reputation, and results of operations
Negative cash flows
The company has experienced negative cash flows from operations in the recent past, and there is a possibility that it may continue to have negative cash flows in the future
Dependent on few customers
The company is dependent on a small number of customers for its sales. The loss of any of these major customers could significantly affect the company's revenues and profitability
IPO FAQs
The promoters of the company are Ramesh Jivabhai Pindariya, Amri Ramesh Pindariya, Pindariya Kashmira, Kashish Ramessh Pindariya and Kishor Jivabhai Pindariya.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 71.0 - 75.0.
The IPO application opens on May 06, 2024 and closes on May 09, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 113,600.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on May 10, 2024.
The refund will be credited to your account on May 13, 2024.
The allotted shares will be credited to your demat on May 13, 2024.
Winsol Engineers Ltd.’s shares listed on the stock exchanges on May 14, 2024.