Winsol Engineers IPO subscription opens on May 6: Check price band, issue size and listing date

Winsol Engineers Limited IPO, an entirely fresh issue of 31.15 lakh shares of a face value of ₹10 each, will open for public subscription on Monday, May 6. The subscription window for the initial public offering of Winsol Engineers Ltd will close on Thursday, May 9.

Winsol Engineers, an EPC firm providing services for BoP solutions in the wind and solar power sectors, is looking to raise ₹23.36 crore through the IPO.

The SME public issue, which will be listed on the NSE, has earmarked its shares for qualified institutional buyers (QIBs), non-institutional buyers (NIIs) and retail buyers.

Of the 31.15 lakh shares, the company will allocate not more than 50% of the net issue to the QIBs, not less than 35% of the net issue to retail buyers and not less than 15% of the net issue to NIIs.

Winsol Engineers raised ₹6.62 crore from anchor investors by allotting 8.83 lakh shares on May 3. The company also set aside 1.58 lakh shares for market maker, Spread X Securities.

Beeline Capital Advisors Pvt Ltd has been appointed as the book-running lead manager for the IPO. Kfin Technologies Limited is the registrar to the issue.

Winsol Engineers IPO Price Band

Winsol Engineers IPO price band has been fixed at ₹71 to ₹75 per share and the minimum lot size for an application at 1,600 shares. At this price band, a retail investor will require a minimum investment amount of ₹1,20,000 to apply for one lot of shares. For high-networth individuals, the minimum lot size for investment is 2 lots or 3,200 shares, amounting to ₹2,40,000.

Winsol Engineers IPO allotment and listing dates

Winsol Engineers IPO allotment status is expected to be finalised on Friday, May 10. Non-allottees of shares are likely to get their money back on Monday, May 13. Successful applicants will receive shares in their Demat accounts on the same day.

Winsol Engineers IPO shares are likely to get listed on the NSE SME platform, Emerge, on Tuesday, May 14.

Winsol Engineers IPO promoters

Ramesh Jivabhai Pindariya, Amri Ramesh Pindariya, Pindariya Kashmira, Kashish Ramesh Pindariya and Kishor Jivabhai Pindariya are the promoters of Winsol Engineers. They currently hold together 100% in the company and the stake will be diluted to 72.99% post public issue.

About Winsol Engineers Ltd

Established in December 2015, Winsol Engineers Ltd is a provider of integrated engineering, procurement, construction (EPC), and commissioning services for Balance of Plant (BoP) solutions for solar and wind power generation companies.

Its core services for BoP Solutions encompass foundation work, substation civil and electrical work, and right-of-way services.

Winsol Engineers Ltd is an ISO-9001-2015, ISO-14001-2015, and ISO-45001-2018 certified firm, with more than 200 engineers and technicians working across more than 41 major ongoing projects.

To know more about IPOs listing, schedule and upcoming IPOs, click here