Winsol Engineers IPO

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 nameWinsol Engineers Limited
IndustryEngineering Consultancy
Company Website

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 date06 May 2024
IPO Closing09 May 2024
Basis of Allotment10 May 2024
Initiation Refund13 May 2024
Credit to Demat Account13 May 2024
Listing Date14 May 2024
(Cut-off time for UPI mandate confirmation – 5 PM on May 9, 2024)

Winsol Engineers IPO details

Issue typeBook Built Issue IPO
IPO issue size₹23.36 Cr – 3,115,200 shares
Fresh Issue₹23.36 Cr – 3,115,200 shares
Offer for saleNil
Face value₹10 per share
Price Band ₹71 to ₹75 per share
Lot size1600 Shares
Market Maker portion158,400 shares
Shareholding pre-issue8,420,000
Shareholding post-issue11,535,200
Listing ExchangeNSE SME

Winsol Engineers IPO Lot Size

Retail (Min)11600₹120,000
Retail (Max)11600₹120,000
HNI (Min)23,200₹240,000

Winsol Engineers IPO Reservation Details

Investor CategoryShares Offered
Anchor Investor Shares Offered883,200 (28.35%)
Market Maker Shares Offered158,400 (5.08%)
QIB Shares Offered593,600 (19.05%)
NII (HNI) Shares Offered444,800 (14.28%)
Retail Shares Offered1,035,200 (33.23%)
Total Shares Offered3,115,200 (100%)

Winsol Engineers Financial Performance

 FY 2021FY 2022FY 20239M FY 2024
Net income0.491.085.186.77
(Amount in ₹ Crores)

Winsol Engineers Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio11.54 – 12.20
RONW (%)20.7231.5459.28
ROCE (%)11.7116.1446.19
EBITDA (%)6.963.7212.00

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 Holding100%
Post Issue Share Holding72.99%

Winsol Engineers IPO Lead Manager(s)

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

Winsol Engineers Registrar

Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: 91 40 6716 2222

Winsol Engineers Contact Details

Shop No. 301, Madhav Commercial Complex,
Near Crystal Mall, Khodiyar Colony, Jamnagar, Gujarat, 361006
Phone: 0288-2710708

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

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