IPO Details
Bidding Dates
06 May 24 - 09 May 24
Price Range ₹
71 - 75
Total Equity
₹ 23.36Cr
Lot Size
1600
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
06 May 2024
Offer end
09 May 2024
Allotment
10 May 2024
Refund initiation
13 May 2024
Demat transfer
13 May 2024
Listing
14 May 2024
Offer start
06 May 2024
Offer end
09 May 2024
Allotment
10 May 2024
Refund initiation
13 May 2024
Demat transfer
13 May 2024
Listing
14 May 2024
About Company
Established in December 2015, Winsol Engineers Limited specializes in providing comprehensive engineering, procurement, construction, and commissioning services tailored for Balance of Plant (BoP) Solutions within the solar and wind power generation sectors. Winsol's primary services encompass foundation work, substation civil and electrical work, and right-of-way services, forming the cornerstone of its BoP Solutions offerings. The company boasts ISO-9001-2015, ISO-14001-2015, and ISO-45001-2018 certifications, underscoring its commitment to quality execution and operational excellence. With a dedicated workforce exceeding 200 engineers and technicians, Winsol Engineers Limited demonstrates its capacity for proficient project execution. As of April 2024, the company is actively engaged in over 41 major ongoing projects, collectively valued at approximately ₹11,953.31 lakhs. Notably, invoices totaling more than ₹2,115.54 lakhs have been recorded as of March 31, 2024, leaving an unexecuted or unbilled order book of ₹9,837.75 lakhs. As of December 31, 2023, Winsol Engineers Limited employs over 270 individuals, inclusive of more than 200 engineers and technicians, further solidifying its operational strength and expertise.
Year Founded
30-12-2015
Promotor Details
Ramesh Jivabhai Pindariya
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 72.99 |
| Share Capital | 8420000 | 8420000 |
Offer to Public
31,15,200.00 Cr
Project Details
- Working Capital Requirements - 150cr
Objectives
- Working Capital RequirementsGeneral Corporate Purposes
Highlights
- Winsol Engineers Limited possesses specialized expertise in providing integrated engineering, procurement, construction, and commissioning services tailored for Balance of Plant (BoP) Solutions in the renewable energy sector, enhancing its competitiveness and attractiveness to clients.
- The company has built a solid reputation for its timely project completion, demonstrated expertise, and cost efficiency, making it a preferred partner for clients in the renewable energy industry, thereby securing repeat business and fostering long-term relationships.
- Winsol Engineers holds ISO-9001-2015, ISO-14001-2015, and ISO-45001-2018 certifications, underscoring its commitment to quality management, environmental safety, and adherence to industry standards, which enhances its credibility and instills confidence in clients.
- With a comprehensive suite of services covering foundation work, substation civil and electrical work, right of way services, cabling to substations and the grid, and more, Winsol Engineers offers clients a one-stop solution for their Balance of Plant (BoP) needs, providing added convenience and efficiency.
- The company's strategic move to acquire Repower Infrastructure Private Limited and integrate it as a wholly-owned subsidiary demonstrates its commitment to growth and market leadership, positioning it for enhanced service offerings and broader market reach within the renewable energy sector.
Challenges
- The company is involved in outstanding legal proceedings, and adverse outcomes in these cases could have a material adverse effect on its business, financial condition, and reputation.
- Historical negative cash flows pose a risk to the company's growth and business sustainability if sustained over time.
- As an approved vendor enlisted by Engineers India Limited (EIL), failure to maintain this recognition could harm the company's brand value, reputation, and adversely affect its business operations and financial performance.
- Any disruptions or fluctuations in the supply of raw materials may impact product pricing and adversely affect the company's business, financial condition, and cash flows.
- The company's products cater to specific industries, and any reduction in demand from these sectors could lead to a loss of business, affecting its financial performance and condition.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 2,857.23 | 2.00 | 516.98 | 516.98 | 6.1399 |
| 2024 | 4,107.11 | 842.00 | 908.58 | 908.58 | 10.7907 |
