“We wish to inform you that the National Stock Exchange of India consented to listing 1.22 crore equity shares of the company from the BSE SME platform to the main board of NSE with effect from July 3,” the company said.
The exchange granted final approval for the migration of Gensol Engineering after submission of listing application including equity listing agreement. Earlier, it had granted the company in-principle approval.
“Trading members of the exchange are hereby informed that effective July 03, the equity shares of Gensol Engineering, which are already listed under BSE SME Platform, will now be migrated and admitted to dealings on the mainboard platform in the list of ‘B’ group,” NSE said.
The company needs to ensure submission of financial results if listed after the end of quarter but on or before the due date for submission of said financial results.
“Trading Members may note that securities of the company will only be traded in dematerialized form and trades effected in this scrip will be in unit market lot (i.e., one share),” NSE said further.
Gensol Engineering came up with its public offer in 2019 and received a decent response from investors. However, the company’s shares have offered blockbuster returns post the listing.The stock rose over 2,000% in the post listing period, while it has more than doubled investors’ wealth in one year. So far this year, the shares have jumped 33% on a year-to-date basis.
Gensol Engineering is an engineering solutions provider that seeks to help the world build solar power projects. The company has an EPC portfolio of over 590 MWp across the country, which includes both domestic and international clients.
For the year ending March 2023, the company clocked a revenue of Rs 186 crore and reported a profit of Rs 13.55 crore.
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