Winsol Engineers IPO price band set at ₹71-75 per share; SME IPO to open on May 6

Winsol Engineers IPO: Winsol Engineers Limited is set to launch its initial public offering (IPO) in the first week of May. The company provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions for solar and wind power generation firms.

The bidding for Winsol Engineers IPO will commence on May 6 and will conclude on May 9. The IPO allotment is expected to be finalized on May 10 and the equity shares of Winsol Engineers will list on NSE SME with a tentative listing date fixed on May 14.

Winsol Engineers IPO price band is set at ₹71 to ₹75 per share. The IPO lot size is 1,600 shares. At the upper end of the price band, the company plans to raise ₹23.36 crore from the book-built issue which is entirely a fresh issue of 31.15 lakh equity shares.

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Winsol Engineers IPO is an SME IPO and the minimum investment amount required by retail investors is ₹120,000.

The company plans to use the net issue proceeds towards working capital requirements and general corporate purposes.

Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Winsol Engineers IPO, while Kfin Technologies Limited is the IPO registrar.

In the Winsol Engineers IPO, 50% of the net issue is reserved for Qualified Institutional Buyers (QIB), 35% is reserved for Retail Investors and the remaining 15% of the net issue is reserved for Non-Institutional Investors.

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About Winsol Engineers Ltd

Winsol Engineers is an EPC firm providing services for BoP Solutions including foundation work, substation civil and electrical work, and right-of-way services. As of April 2024, the company has more than 41 major ongoing projects with a total value of approximately ₹119.53 crore. 

Ramesh Pindariya, Amri Pindariya, Pindariya Kashmira, Kashish Pindariya and Kishor Pindariya are the promoters of the company. The promoter shareholding in the company will decline to 72.99% after the IPO from 100% at present.

Winsol Engineers reported a net profit of ₹5.18 crore upon revenue of ₹65.44 crore in FY23. This was a decent growth from a net profit of ₹1.08 crore and revenue of ₹60.80 crore in FY22.

For the period ending December 2023 of FY24, the company’s net profit was ₹6.77 crore and revenue was at ₹52.02 crore.

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