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Shares of smallcap company Gensol Engineering have soared like a rocket. On Thursday, the company’s shares traded at an upper circuit of 5 percent at Rs. 803.05 was reached. On Wednesday, shares of Gensol Engineering traded at Rs. closed at 764.85. This rise in the company’s stock is due to an announcement. Gensol Engineering has announced that its board will consider a fundraising plan. The company has recently given bonus shares to its investors in the ratio of 2:1. That is, the company has given 2 bonus shares for every share.
A company can raise funds in this way
Gensol Engineering has said that the company’s board of directors will meet on Monday, January 1, 2024, to consider and approve the proposal related to raising funds. A company can raise funds through private placement, qualified institutional placement (QIP), preferential issue or any other method. Gensol Engineering has given bonus shares twice in the last 2 years. The company has given bonus shares in the ratio of 1:3 in October 2021. That is, the company gave 1 bonus share for every 3 shares. At the same time, the company issued bonus shares in the ratio of 2:1 in October 2023.
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Shares of the company rose 3900% in 2 years
Shares of Gensol Engineering have gained more than 3900% in the last 2 years. On December 22, 2021, the shares of the company were Rs. was at 19.67. Shares of Gensol Engineering have touched Rs 803.05 on 28 December 2023. At the same time, the company’s shares have gained 137% so far this year. On January 2, 2023, the shares of the company were Rs. 337.97, which on December 28 was Rs. 803.05 was reached. Shares of Gensol Engineering have gained 79% in the last 6 months. The company’s stock touched a 52-week high of Rs. is 945.85. At the same time, the company’s shares hit a 52-week low of Rs. is 265.68.
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