Winsol Engineers IPO will open for subscription from 06 May 2024. The company aims for an issue size of ₹23.36 Cr through this IPO.
Company Overview
| Full name | Winsol Engineers Limited |
| Sector | Other |
| Industry | Engineering Consultancy |
| Company Website | https://winsol.info/ |
About Company
Based in Jamnagar, Winsol Engineers is an integrated engineering, procurement, construction, and commissioning company that offers Balance of Plant (BoP) solutions for both wind and solar power generation companies. The company’s core services for BoP Solutions include foundation work, substation civil and electrical work, right-of-way services, cabling to substations and grids, and miscellaneous work.
The company has a total team strength of over 200 engineers and technicians for executing various projects. Winsol Engineers has been undertaking various projects on a turnkey basis for clients such as Suzlon, Adani Green Energy, Powerica Limited, and KP Energy Limited. As of 31 December 2023 has Winsol Engineers 270 employees on the roll.
On a materiality basis since 2018, the company has completed over 55 projects amounting to more than INR 170 crore, showcasing its execution capabilities in terms of both project size and quantity. As of April 2024, the company has over 41 ongoing projects with a total value of approximately INR 119.53 crore. Invoices totaling more than INR 21.16 crore have been booked as of 31 March 2024, resulting in an unexecuted or unbilled order book of INR 98.38 crore.
The Objectives of the Issue
- Working Capital Requirements
- General Corporate Purposes
Winsol Engineers IPO Timetable
| IPO Opening date | 06 May 2024 |
| IPO Closing | 09 May 2024 |
| Basis of Allotment | 10 May 2024 |
| Initiation Refund | 13 May 2024 |
| Credit to Demat Account | 13 May 2024 |
| Listing Date | 14 May 2024 |
Winsol Engineers IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹23.36 Cr – 3,115,200 shares |
| Fresh Issue | ₹23.36 Cr – 3,115,200 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹71 to ₹75 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 158,400 shares |
| Shareholding pre-issue | 8,420,000 |
| Shareholding post-issue | 11,535,200 |
| Listing Exchange | NSE SME |
Winsol Engineers IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
| HNI (Min) | 2 | 3,200 | ₹240,000 |
Winsol Engineers IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 883,200 (28.35%) |
| Market Maker Shares Offered | 158,400 (5.08%) |
| QIB Shares Offered | 593,600 (19.05%) |
| NII (HNI) Shares Offered | 444,800 (14.28%) |
| Retail Shares Offered | 1,035,200 (33.23%) |
| Total Shares Offered | 3,115,200 (100%) |
Winsol Engineers Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 22.16 | 60.70 | 65.39 | 51.95 |
| Expenses | 21.53 | 59.31 | 58.53 | 42.97 |
| Net income | 0.49 | 1.08 | 5.18 | 6.77 |
Winsol Engineers Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.59 | 1.29 | 6.15 |
| PE ratio | – | – | 11.54 – 12.20 |
| RONW (%) | 20.72 | 31.54 | 59.28 |
| NAV | 2.83 | 4.08 | 10.38 |
| ROCE (%) | 11.71 | 16.14 | 46.19 |
| EBITDA (%) | 6.96 | 3.72 | 12.00 |
| Debt/Equity | 3.41 | 2.70 | 1.21 |
Company Promoters
- Mr. Ramesh Jivabhai Pindariya
- Mrs. Amri Ramesh Pindariya
- Ms. Pindariya Kashmira
- Ms. Kashish Ramesh Pindariya
- Mr. Kishor Jivabhai Pindariya
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 72.99% |
Winsol Engineers IPO Lead Manager(s)
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
Shilp Corporate Park, B Block, 13th Floor,
B-1311-1314, Near Rajpath Club, RajpathRangoli Road,
S.G. Highway, Ahmedabad, Gujarat- 380054
Phone: 079 4918 5784
Email: mb@beelinemb.com
Website: www.beelinemb.com
Winsol Engineers Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: 91 40 6716 2222
E-mail: npil.ipo@kfintech.com
Website: www.kfintech.com
Winsol Engineers Contact Details
WINSOL ENGINEERS LIMITED
Shop No. 301, Madhav Commercial Complex,
Near Crystal Mall, Khodiyar Colony, Jamnagar, Gujarat, 361006
Phone: 0288-2710708
E-mail: info@winsol.info
Website: www.winsol.info
Winsol Engineers IPO Allotment Status
Winsol Engineers IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Winsol Engineers IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
