Winsol Engineers IPO: The initial public offering of Winsol Engineers Ltd, which is being closed on May 9, has received a whopping response from investors. Till 4:25 pm on the final day of bidding on Thursday, the Rs 23.36-crore SME IPO received an overwhelming 677.51 times subscription, garnering bids for 1,40,48,75,200 shares as against 20,73,600 shares on offer.
The retail category has received a whopping 771.14 times subscription, while the non-institutional investor (NII) category got a robust 1,087.19 times subscription. The qualified institutional buyers (QIBs) has also got a strong 207.23 times subscription.
The Winsol Engineers IPO was opened for public subscription on May 6. The share allotment will likely be finalised on May 10, while the listing will take place on May 14 on the NSE SME.
The price band of the IPO was fixed at Rs 71-Rs 75 per share.
Winsol Engineers IPO GMP Today
According to market observers, unlisted shares of Winsol Engineers Ltd are trading Rs 200 higher in the grey market as compared with its issue price. The Rs 200 grey market premium or GMP means the grey market is expecting a whopping 266.67 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Winsol Engineers IPO
The Winsol Engineers IPO is entirely a fresh issue of 31.15 lakh shares. Its price band was set at Rs 71 to Rs 75 per share.
For investors, the minimum lot size for an application is 1,600 shares. The minimum amount of investment required by retail investors is Rs 1,20,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,40,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Winsol Engineers IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Winsol Engineers IPO is Spread X Securities.
Winsol Engineers Ltd’s revenue in FY23 rose 7.64% and its profit after tax (PAT) jumped 377.66 per cent.
Winsol Engineers Limited, incorporated in December 2015, is a company that provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions for both solar and wind power generation firms.
The company’s core services for BoP Solutions include foundation work, substation civil and electrical work, and right-of-way services.
