Gensol promoters lose more than half of their ownership

In April, creditors took control of 9.19% of shares, leaving the promoters with 26.68% holding

- Varun Sood

Gensol Engineering Ltd's promoters have lost more than half of their ownership in the company in the last 31 days of trading since rating agencies flagged issues of a credit crunch on 3 March, as creditors have wrested 57% of the pledged shares, leaving the promoters with 26.7%.

Gensol founder Anmol Jaggi, his younger brother Puneet and their privately owned firm Gensol Ventures owned 62.65% of the company at the end of December 2024. A good 81.7% of promoter shares were pledged to creditors.

Promoter ownership fell to 35.87%, with 95.1% of shares pledged at the end of March 2025.

In April, creditors took control of another 9.19% of shares, leaving the promoters with 26.68% holding at the end of 22 April, according to the exchange data reviewed by Mint.

Put simply: the Jaggi brothers have lost more than 1% of equity daily over the last 31 days of stock trading.