Gensol Engineering's Stock Crash? Anmol Singh Jaggi’s Billion-Rupee Fall and Investor Loss

Gensol Engineering was once counted among the best-performing companies in the stock market. But today, its shares have plunged over 90%. Once trading at Rs 2400, the stock has crashed to just Rs 116. The company is struggling with a financial crisis, and investors have completely lost trust in it.

Why Did Gensol Engineering’s Stock Crash?

The biggest reason behind the crash of Gensol Engineering’s stock is the emergence of serious financial and corporate governance-related allegations. The company has been accused of fraud, insider trading, and violations of stock market regulations. These revelations shattered investor confidence. The lack of transparency and failure to respond with clarity or corrective actions made the situation worse.

Additionally, the Securities and Exchange Board of India (SEBI) banned the promoters—Anmol Singh Jaggi and his brother—from holding any director positions or trading in the stock market. This sent a highly negative signal to the market. Investors lost faith in the management and began to exit in large numbers. Weak earnings, flaws in the business model, and poor corporate leadership deepened the crisis. Ultimately, this is not just a story of a falling stock, but a failure of vision, management, and governance.

Who Is Anmol Singh Jaggi?

Anmol Singh Jaggi, the promoter of Gensol Engineering, is an Indian entrepreneur who made a name for himself in green energy and electric mobility. Born into a military family, he imbibed discipline and leadership early on. He earned his B.Tech in Applied Petroleum Engineering from the University of Petroleum and Energy Studies (UPES), Dehradun, between 2003 and 2007. He started his career in 2005 with Reliance Industries, where he developed technical and managerial skills. In 2017, he founded Gensol Engineering.

Anmol did not limit himself to Gensol. He co-founded BluSmart, India’s first 100% electric cab service. What began in December 2019 with just 70 electric cars grew to a fleet of 1,250 vehicles by April 2022. This showcases his sharp business foresight. He is also the Managing Director of Matrix Gas and Renewables Limited. A father of two, Anmol has always tried to balance family life with his entrepreneurial journey.

However, his career took a hit recently due to controversies surrounding Gensol Engineering. SEBI’s ban on him from holding directorial roles and participating in stock trading has severely affected his public image. Despite that, his contribution to the EV and green energy sector remains noteworthy.

The Rise of BluSmart

Anmol Singh launched BluSmart in December 2019 with just 70 cars. By April 2022, the company had expanded its fleet to 1,250 vehicles. The company’s focus on modern technology and electric mobility helped it grow rapidly and position itself as a key player in the green transport space.

Family Background and Personal Life

Anmol Singh comes from a military family. He has two children, aged 4 and 10. From a young age, he dreamed of becoming a successful entrepreneur—a dream he largely achieved. However, the recent controversies have cast a long shadow over his achievements and public image.

SEBI Ban and Questions About the Future

Recently, SEBI (Securities and Exchange Board of India) imposed a ban on Anmol Singh Jaggi and his brother Puneet Jaggi, prohibiting them from holding any directorial position in any company. They are also barred from buying or selling shares in the stock market.

This ban is expected to seriously impact the company’s credibility and operations. Investor confidence is already shaken, and the company’s chances of recovery now appear very slim.

Anmol Singh Jaggi’s Net Worth

While there isn’t much public data on his total net worth, corporate shareholding disclosures filed in December 2023 show that Anmol Singh Jaggi holds publicly traded shares worth over Rs 1,020.8 crore. This figure reflects the scale of his business empire—but now that wealth appears to be under threat.