WinSol Engineers Ltd is a fastest growing organisation and serve in Renewable solutions. Their motto is to use power of science and natural resources and to become a largest renewable solution company. WinSol Engineers Ltd. is coming up with an IPO to raise funds from the public.

WinSol Engineers IPO is based on the Book Built Issue. The Issue size of the IPO is Rs. 29.36 Crores comprising of fresh issue of 3,115,200 shares. WinSol Engineers IPO will be open on 06th May 2024 for subscription and closed on 09th May 2024 for the subscription.

The allotment of WinSol Engineers IPO is expected to be finalized on 10th May 2024 and will be listed on the BSE SME platform on 14th May 2024. The Issue price band of the IPO is set at Rs. 71 to Rs. 75 Per Share. The minimum lot size for an application is 1600 shares and the minimum amount of investment required to subscribe to the WinSol Engineers IPO under the Retail category is Rs. 1,20,000. The Minimum lot size and the minimum amount of Investment required for an application under the HNI category are 3200 shares and Rs. 2,40,000 respectively.

The book-running lead manager of the WinSol Engineers IPO is Beeline Capital Advisors Private Limited and the registrar is KFin Technologies Limited for the issue. The market maker for WinSol Engineers IPO is Spread X Securities Private Limited.

Refer WinSol Engineers RHP for more details about the company and the IPO.

The company is benefited from the extensive experience of their Promoters Mr. Ramesh Jivabhai Pindariya and Mr. Kishor Jivabhai Pindariya, who are associated with their company since its incorporation i.e., on December 30, 2015 in Jamnagar, Gujarat, and having experience of more than 35 (Thirty-Five) years in the Engineering Industry. Their Board of Directors, Key Managerial Personnel and Senior Management Personnel has also provided significant contribution in the growth of their company.

Objectives of WinSol Engineers IPO

We intend to utilize the proceeds of the Issue to meet the following objects : 
1. Working Capital Requirements
2. General Corporate Purposes

The Company believes that listing will enhance the corporate image and visibility of brand name of the Company. 

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About Winsol Engineers Ltd. Limited

The Company was incorporated as ‘Winsol Engineers Private Limited’ at Jamnagar, Gujarat as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated December 30, 2015, issued by the Registrar of Companies, Gujarat. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders held on December 09, 2023, and consequently the name of their Company was changed to ‘Winsol Engineers Limited’, pursuant to a fresh certificate of incorporation issued by the Registrar of Companies, Gujarat, on December 21, 2023.

Winsol Engineers Limited established with the aim to use the power of science to deliver unmatched performance of natural resources and build the future of the next generation with energy sustenance. Winsol Engineers Limited technology driven organization, it differentiates through its talented and passionate people and unique combination of capabilities. Its deep market sector insights and ability to integrate health & safety and sustainability into the design and delivery of innovative solutions. Working in partnership with their clients to deliver exceptional outcomes through the application of design, consultancy, engineering, project and management services.

Winsol Engineers Limited is a leading EPC/Operation/Consultancy firm working in partnership with their clients to deliver exceptional and sustainable outcomes through the application of design, engineering, project, consultancy and management services”.

They support society with knowledge and expertise to improve the quality of life in a rapidly growing world. Winsol Engineers Limited undertakes small to large renewable projects and comprehensive services.

WinSol Engineers thriving presence in India by executing 2,000+ MW BOPs in 7+ States and has proudly completed over 490 Projects. 

Notable clients trust the company like SUZLON, Adani Renewables, KP Energy Limited, ReNew, POWERICA, Sembcorp, InoxWind, NTPC Renewables, Adiya Birla Renewables, Envision and TeraForm Global.

WIND & SOLAR ENERGY INDUSTRY IN INDIA

India's energy demand is expected to increase more than that of any other country in the coming decades due to its sheer size and enormous potential for growth and development. Therefore, most of this new energy demand must be met by low-carbon, renewable sources. India's announcement India that it intends to achieve net zero carbon emissions by 2070 and to meet 50% of its electricity needs from renewable sources by 2030 marks a historic point in the global effort to combat climate change.

India was ranked fourth in wind power capacity and solar power capacity, and fourth in renewable energy installed capacity, as of 2021. Installed renewable power generation capacity has increased at a fast pace over the past few years, posting a CAGR of 15.4% between FY16 and FY23. India has 125.15 GW of renewable energy capacity in FY23. India is the market with the fastest growth in renewable electricity, and by 2026, new capacity additions are expected to double.

With the increased support of the Government and improved economics, the sector has become attractive from an investor’s perspective. As India looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040, renewable energy is set to play an important role.

GOVERNMENT INITIATIVES

i. In Budget 2023-24, Green Growth was identified as one of the nodes in the SAPTARISHI (7 priorities).
ii. In Budget 2023-24, pumped storage projects received a push with a detailed framework to be formulated.
iii. Union Budget 2023-24 envisions to create sustainable cities of tomorrow. To translate this, states and cities will be encouraged to undertake urban planning reforms and actions to transform our cities into 'sustainable cities of tomorrow.’
iv. The Indian government's commitment to reaching net-zero emissions by 2070 and increasing its renewable energy target to 500 GW by 2030 at the COP26 summit has provided great support to the industry and spurred unprecedented growth.
v. In Budget 2023-24, US $1.02 billion (Rs. 8,300 crore) central sector support for ISTS infrastructure for 13 GW renewable energy from Ladakh was announced.

WinSol Engineers Risk Factors & Concerns

1. They derive majority of their revenue from Engineering & Consulting Work and state of Gujarat.
2. The business is entirely concentrated in, and dependent on, the Renewable Energy (RE) sector.
3. The construction, operation and maintenance of their transmission systems involves significant risks that may cause injury to people or property.
4. they are exposed to significant risks on fixed-price or lump-sum turnkey contracts that could cause them to incur losses.
5. The company relies on third party vendors for the machinery required to execute their projects.
6. The business is operating under various laws which require them to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and their inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for their business operations.

WINSOL ENGINEERS STRENGTHS & STRATEGIES

1. Experienced Promoters and Management Team.
2. End-to-end execution capabilities.
3. Optimal Utilization of Resources.
4. Long-standing relationships with the clients.
5. Continue to enhance their project execution capabilities.
6. Leveraging their market skills and relationship.
7. Maintaining edge over competitors.
8. Expand their geographical footprint.