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Gensol approves ₹600 cr fundraising to pare debt
The New Indian Express Kalaburagi
|March 14, 2025
FACING rating downgrades and liquidity challenges, Gensol Engineering's board has approved fundraising initiatives totalling ₹600 crore to reduce debt and improve its debt-equity ratio.
The company also announced a stock split in the ratio of 1:10, even as its shares have plummeted approximately 55% over the past 13 trading sessions.
The fundraising plan includes ₹400 crore through the issuance of Foreign Currency Convertible Bonds (FCCBs) and ₹200 crore through warrants to promoters, priced at ₹56 per warrant after adjusting for the stock split.
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