Investors in India have been showing much interest in SME (Small and Medium Enterprises) IPOs due to their high potential for long-term gains. For these companies, Initial Public Offerings (IPO full form) are one of the most convenient ways of raising funds. It is due to these reasons why many companies in the SME segment are successfully launching their public issues.
Winsol Engineers Limited is one of the several SME IPOs set to launch this May. The company provides EPC (engineering, procurement and construction) services to solar and wind generation companies. Bids for this SME IPO will commence from May 6th to May 9th.
Given below are all the details we know about the upcoming Winsol Engineers Limited IPO.
Addditional Read: Upcoming IPOs
IPO Details
IPO Open Date
| May 6th 2024 (Monday)
|
IPO Close Date
| May 9th 2024 (Thursday)
|
Listing Date
| May 14th 2024 (Tuesday)
|
Listed at
| NSE Emerge
|
Price Band
| Rs. 71 to Rs. 75 per share
|
Face Value
| Rs. 10 per share
|
Lot Size
| 1,600 shares
|
Fresh Issue Size
| 31,15,200 equity shares (Rs. 23.36 crore approximately)
|
Total Issue Size
| 31,15,200 equity shares (Rs. 23.36 crore approximately)
|
IPO Type
| Book-built IPO
|
About the Company
The Jamnagar-based Winsol Engineers Private Limited is an EPC service provider that specialises in providing BoP (balance of plant) solutions for companies generating solar and wind power. BoP solutions refer to all components of a power-generating facility other than the core equipment. As such, Winsol Engineers provides design, procurement and installation services for all structures, systems and equipment, including the main power generation equipment.
The core services of Winsol Engineers include foundation work, cabling, civil and engineering work, right-of-way services and more. In addition to its BoP solutions, the company offers operation and maintenance services for power generation plants. It has a total strength of 200 engineers and technicians for executing projects.
Most of the company's clients belong to the renewable energy sector and include the likes of Adani Green Energy, KP Energy Limited, Suzlon, Powerica Limited, etc. Winsol Engineers Pvt Ltd has completed more than 490 projects across seven states with a combined capacity of over 2,000 MW. As of the date of its RHP, the company is working on 41+ major projects valued at Rs. 119.53 crore approximately.
Moreover, Winsol Engineers Limited is ISO-14001-2015, ISO-45001-2018 and ISO-9001-2015 certified for its quality and execution capabilities.
Additional Read: How to Invest in an IPO Online
IPO Tentative Timeline
The Winsol Engineers Limited IPO will remain open from May 6th to May 9th. Here are all the important dates:
Anchor Investment Date
| May 3rd 2024 (Friday)
|
Open Date
| May 6th 2024 (Monday)
|
Close Date
| May 9th 2024 (Thursday)
|
Cut-off Time for UPI Mandate Confirmation
| 5 PM, May 9th 2024 (Thursday)
|
Basis of Allotment Date
| May 10th 2024 (Friday)
|
Refund Initiation Date
| May 13th 2024 (Monday)
|
Credit of Shares to Demat Date
| May 13th 2024 (Monday)
|
Listing Date
| May 14th 2024 (Tuesday)
|
IPO Lot Sizes
Check the table below to know the minimum and maximum lot sizes of Winsol Engineers IPO:
Application Type
| No. of Lots
| No. of Shares
| Amount
|
Retail (min)
| 1
| 1,600
| Rs. 1,20,000
|
Retail (max)
| 1
| 1,600
| Rs. 1,20,000
|
HNI (min)
| 2
| 3,200
| Rs. 2,40,000
|
Company Financials
The following table shows the financials of Winsol Engineers Pvt Ltd over the previous three financial years:
Parameters
| For the Financial Year Ending (in Rupees Lakhs)
|
| March 31, 2023
| March 31, 2022
| March 31, 2021
|
Total Assets
| 2,856.01
| 2,764.80
| 1,816.83
|
Total Liabilities
| 1,982.13
| 2,420.87
| 1,578.28
|
Total Expenses
| 5,853.25
| 5,931.44
| 2,153.24
|
Total Revenue
| 6,544.53
| 6,080.00
| 2,224.58
|
Profit After Tax
| 518.07
| 108.46
| 49.44
|
EBITDA
| 784.59
| 225.89
| 154.35
|
EPS (Basic and Diluted)
| 6.15
| 1.29
| 0.59
|
Strengths of the Company
Before investing in an IPO, you need to be aware of the strengths and risks involved with the company. Here are the strengths of Winsol Engineers Pvt Ltd:
Over the years, the company has demonstrated its ability to complete complex projects within deadlines, which has helped it keep long-term customer relationships. Since 2018, Winsol Engineers Limited has completed 55 projects valued at Rs. 170 crore.
The promoters of Winsol Engineers Limited have over 40 years of experience in the engineering sector. Having a highly motivated and experienced management team along with promoters has helped this company ensure steady growth.
One of the specialities of this company is its ability to deliver end-to-end solutions for renewable energy generation companies. Other than main generating equipment, Winsol Engineers provide all manner of services from design and procurement to installation and commission of plant systems.
The company has constantly carried out employee skilling, improvements in the execution process and modernisation of its plants. This has helped it eliminate bottlenecks in project execution and take effective corrective measures.
Additional Read: Difference Between NFO and IPO
Risks Involved
The following are some of the main risks involved with investing in Winsol Engineers Limited IPO:
The company has several ongoing litigations against itself, its promoters and directors. This includes several income tax and GST proceedings, which could be ruled against the company, resulting in a loss of reputation and revenue.
The business of Winsol Engineers Limited involves certain licenses, permits and approvals which carry various regulations and guidelines. Failure to renew such licenses and approvals could interrupt the company’s activities.
As mentioned before, most of Winsol Engineers Limited’s customers are in the renewable sector. These companies are susceptive to external factors such as the country’s governance policies, financial incentives and adoption of renewable energy. Any unfavourable condition would hurt the company’s business.
Summary
Winsol Engineers Limited is set to launch its IPO on May 6th with a price band of Rs. 71 to Rs. 75 to fulfil its working capital and general corporate requirements. The EPC services company, which mainly caters to the growing solar and wind generation sector, presents a lucrative investment opportunity.
However, before you invest, ensure to go through the Red Herring Prospectus (RHP) which details all the important details of this company. Also, open a demat and trading account with Bajaj Broking for a seamless investing experience. Don't forget to download the Bajaj Broking app.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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