Winsol Engineers Limited (NSE SME)
May 6, 2024 - May 9, 2024
| Price | ₹71 - ₹75 |
| Premium | ₹199 |
|---|---|
| Lot size | 1600 |
| Allotment | May 10, 2024 |
| Listing | May 14, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1600 | 120000 | 647 |
| HNI | 2 | 3200 | 240000 | 278 |
Last updated on 09-May-2024 17:00:19
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 593600 | 123012800 | 207.23 |
| NIB | 444800 | 484016000 | 1088.17 |
| RETAIL | 1035200 | 807611200 | 780.15 |
| Total | 2073600 | 1414640000 | 682.21 |
| Retail Apps | 504757 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹109.56 | @8% ₹125.21 | @9% ₹140.87 | @10% ₹156.52 | @11% ₹172.17 | @12% ₹187.82 |
Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| MINERVA VENTURES FUND | 211200 | 23.91% | 1.58 |
| NEGEN UNDISCOVERED VALUE FUND | 134400 | 15.22% | 1.01 |
| NAV CAPITAL VCC - NAV CAPITAL EMERGING STAR FUND | 134400 | 15.22% | 1.01 |
| CRAFT EMERGING MARKET FUND PCC-CITADEL CAPITAL FUND | 134400 | 15.22% | 1.01 |
| KINGSMAN WEALTH FUND PCC KIF - II | 134400 | 15.22% | 1.01 |
| GALAXY NOBLE GLOBAL OPPORTUNITIES FUND PCC-GNGOF | 134400 | 15.22% | 1.01 |
| Total | 883200 | 100.00% | 6.63 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 33.23% | 1035200 |
| NII (HNI) | 14.28% | 444800 |
| Anchor | 28.35% | 883200 |
| QIB | 19.05% | 593600 |
| Market Maker | 5.08% | 158400 |
| Total | 100.00% | 3115200 |
Established in December 2015, Winsol Engineers Limited is a distinguished provider of comprehensive engineering, procurement, construction, and commissioning services tailored for Balance of Plant (BoP) Solutions in the renewable energy sector, catering to both solar and wind power generation firms. Specializing in foundational work, substation civil and electrical services, and right-of-way solutions, Winsol Engineers exemplifies excellence through its ISO-9001-2015, ISO-14001-2015, and ISO-45001-2018 certifications, underscoring its commitment to top-notch quality execution. With a robust team exceeding 200 skilled engineers and technicians, the company showcases formidable prowess in project execution. As of April 2024, Winsol Engineers boasts a formidable portfolio of over 41 major ongoing projects valued at approximately 11,953.31 lakhs, with invoiced transactions reaching 2,115.54 lakhs by March 31, 2024, culminating in an impressive unbilled order book of 9,837.75 lakhs. This steadfast growth trajectory coupled with a highly qualified workforce of over 270 employees as of December 31, 2023, solidifies Winsol Engineers Limited as a cornerstone in the renewable energy infrastructure landscape.
Winsol Engineers IPO Details
| Issue Size | 3,115,200 shares (aggregating up to ₹23.36 Cr) |
| Fresh Issue | 3,115,200 shares (aggregating up to ₹23.36 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,420,000 |
| Share holding post issue | 11,535,200 |
| Market Maker portion | 158,400 shares Spread X Securities |
Key Performance Indicator
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 56.41% | 85.08% | 37.24% |
| ROCE | 44.18% | 46.19% | 16.14% |
| RONW | 44.35% | 59.28% | 31.54% |
| D/E | 0.55 | 1.21 | 2.7 |
| EPS (basic & Diluted) | 8.04 | 6.15 | 1.29 |
| P/BV | 4.13 | ||
| P/E (Pre IPO) | 12.19 |
Company Financials
Winsol Engineers Limited Financial Information (Restated)
Winsol Engineers Limited's revenue increased by 7.64% and profit after tax (PAT) rose by 377.66% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Dec 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 3,565.34 | 2,856.01 | 2,764.80 | 1,816.83 |
| Revenue | 5,202.28 | 6,544.53 | 6,080.00 | 2,224.58 |
| Profit | 677.26 | 518.07 | 108.46 | 49.44 |
| Net Worth | 1,527.15 | 873.89 | 343.93 | 238.55 |
| Reserves | 685.15 | 871.89 | 341.93 | 236.55 |
| Borrowing | 846.76 | 1,058.84 | 928.90 | 814.49 |
| Amount in Lakhs | ||||
Strength Factors
Efficiency and Reliability: The Company can consistently deliver high-quality results within agreed timelines. This reliability builds trust with customers and enhances the company's reputation in the market.
Cost-effectiveness: By optimizing resource utilization, the company can offer competitive pricing while maintaining profitability. This attracts customers and enables the company to win contracts over competitors.
Customer Loyalty and Referrals: Long-standing relationships indicate customer satisfaction and trust in the company's ability to meet their needs. Satisfied customers are more likely to provide repeat business and refer new clients, contributing to the company's growth and stability.
Risk Factor
Dependency on Engineering & Consulting Work: Relying heavily on a single source of revenue, particularly in the field of engineering and consulting, exposes the company to significant risk. Any downturn in demand for these services, whether due to economic fluctuations, industry trends, or shifts in client preferences, could adversely affect the company's financial performance.
Operating from a Non-Owned Office: Operating from a rented or non-owned office space introduces risks related to lease agreements, rental costs, and potential disruptions to operations. If the company faces difficulties in renewing leases or encounters unexpected increases in rental expenses, it could strain the company's financial resources and operational stability.
Negative Cash Flows: Experiencing negative cash flows from operations indicates challenges in generating sufficient revenue to cover operating expenses. Continuously negative cash flows can lead to financial distress, affecting the company's ability to meet its financial obligations, invest in growth initiatives, and maintain adequate liquidity. Furthermore, if negative cash flows persist in the future, they may necessitate external financing, which could come with additional costs or constraints.
Winsol Engineers IPO Lead Manager(s)
- Beeline Capital Advisors Pvt Ltd
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: npil.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/