In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Gensol announces the receipt of trading approval for 4,05,383 equity shares issued on a preferential basis to the non-promoter category. This development represents a crucial step in the acquisition of Scorpius Trackers Private Limited (providers of single-axis solar tracker solutions), as Gensol takes ownership of 1,08,108 equity shares, constituting a 100% shareholding.
The trading of these 4,05,383 equity shares, each valued at Rs. 10/-, with a premium of ₹1470.08/-, will bear distinctive numbers from 12218917 to 12624299. These shares have been issued to non-promoters, marking Gensol’s commitment to expanding its investor base.
The approval for trading was granted by the BSE Limited and National Stock Exchange of India Limited, two of India’s leading stock exchanges. The effective listing date for these securities is set for Tuesday, October 17, 2023. Investors should take note that a locking period applies, extending until April 30, 2024.
This trading approval signifies an essential milestone for Gensol, allowing for the seamless integration of Scorpius Trackers Private Limited into their portfolio. Gensol Group looks forward to the continued support and participation of its investors as it moves forward with this strategic acquisition.