Winsol Engineers IPO subscribed 682 times, stocks debuts with 387% premium on NSE

Winsol Engineers, a leading company in engineering, procurement, construction and commissioning (EPC) services made its debut on the National Stock Exchange (NSE) SME platform on 14 May, 2024. The stock price saw a significant increase on the listing day.

Winsol Engineers IPO took place in April 2024 and received strong interest from the investors. The IPO was oversubscribed 682 times with retail and non-institutional investors being the most active participants. The retail investors subscribed 780 times whereas non-institutional investors subscribed 1,088 times. Qualified Institutional Buyers (QIBs) also subscribed 207 times for this IPO. The Winsol Engineers IPO consisted of a fresh issue of 31.15 lakh shares and a price band of ₹71-75 per share. The stock price surged to ₹365, representing a premium of 387% over the issue price. This surpassed the market estimates, where shares were trading at an approximate premium of 265%.

The funds raised through the IPO will be used to support the company’s overall growth strategy. This capital will allow Winsol Engineers to expand the operational capacity, create its position as a key player in the market and undertake huge projects in the EPC sector.

About Winsol Engineers

Winson Engineers was established in 2015 with their core expertise in the foundation work, civil construction and electrical substation projects. The company’s financial performance and experienced team are factors that contribute to optimism from investors. At 11:13 AM, shares of Winsol Engineers traded 411% higher at ₹383.25 apiece on the NSE on 14 May, 2024.