Gensol Engineering Limited, a significant player in the solar and electric vehicle sectors, has officially invited Expressions of Interest (EoI) from potential investors as part of its Corporate Insolvency Resolution Process (CIRP).
The resolution professional, Keshav Khaneja, issued a public notice (Form G) on Tuesday, inviting bids for the Ahmedabad-based company. In a unique offering, bidders have the option to acquire the entire company as a going concern or to bid for its individual business verticals separately. Gensol Engineering owes Rs 1,223 crore to banks and financial institutions.
The two core businesses on offer are:
- Solar EPC Business: This division reported a turnover of ₹762.27 Crore as of…