Gensol Engineering shares hit lower circuit of 5% to a fresh 52 week low of Rs 261.70 against the previous close of Rs 275.45 on BSE. 
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Gensol Engineering shares hit lower circuit of 5% to a fresh 52 week low of Rs 261.70 against the previous close of Rs 275.45 on BSE. Shares of Gensol Engineering Ltd slipped for the 13th straight session on Thursday even as its board approved stock split in the ratio of 1:10 and raising Rs 600 crore.
Gensol Engineering shares hit lower circuit of 5% to a fresh 52 week low of Rs 261.70 against the previous close of Rs 275.45 on BSE. Market cap of the firm slipped to Rs 994.52 crore. Total 2.44 lakh shares changed hands amounting to a turnover of Rs 6.44 crore on BSE.
The board of directors approved two fundraising initiatives. The first, Rs 400 crore will be raised through the issuance of Foreign Currency Convertible Bonds (FCCBs). Second, Rs 200 crore to be raised through the issuance of warrants to promoters.Gensol Engineering is a part of the Gensol group of companies, which offers engineering, procurement, and construction (EPC) services for the development of solar power plants.
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