After Gensol Engineering’s stock market crash on Wednesday, April 16, it was revealed that the family office of Indian cricketer MS Dhoni and Deepika Padukone participated in the Rs 420 crores raised by Gensol Engineering which saw the highest ever Series B valuation.
Falling 5% to open at Rs 122.68 per share after the SEBI cracked the whip on company’s promoters yesterday. This resulted in halting a much-anticipated stock split. Gensol Engineering is now facing serious allegations of financial misconduct in the EV segment which led to the meltdown. However, Gensol CEO Anmol Singh Jaggi “categorically denied any involvement in falsification claims”.
In a post shared on X showed that Gensol’s Series B $50 million valuation was featured with key investors such as BP Ventures. Mayfield India Fund, MS Dhoni Family Office, and Sumant Sinha. While there was no material reason stated, Gensol’s Independent Director, Mr Arun Menon, also submitted his resignation. It was also recorded by SEBI that leading Bollywood actress, Deepika Padukone’s family office KA Innovations LLP was also a key investor in the seed round in January 2019.
MS Dhoni has Really bad Luck in Equity Investing 😔.
Previously it was an Amarpali group and now Gensol Engineering.
Family office of Indian cricketer MS Dhoni participated in ₹420 crores raised by Gensol Engineering. The series B round was done at the highest ever valuation. pic.twitter.com/GfswkKwUNo
— Sandeep Nirvan (@Sandeepnirvan_) April 16, 2025
Netizens responded rapidly defending these public figures calling this a “height of the lack of Due diligence by everyone involved”. Users also commented and came to their rescue by saying that they are not research analysts or financial advisors by profession and that the lack of due diligence is on the part of others.
Previously, the MS Dhoni Family Office has also faced bad luck after investing in the Amrapali group. SEBI had issued Gensol Engineers Limited, Anmol Singh Jaggi and Puneet Singh Jaggi an interim order based on Sections 11(1), 11(4) and 11 B of the Securities and Exchange Board of India Act, 1992.
After touching a high of Rs 1,126 per share with a market capitalisation of Rs 4,300 crore, GEL fell to Rs 122 yesterday. As a result of credit rating agencies, ICRA and CARE who lobbied for GEL’s drop in rankings.
The MS Dhoni Family Office’s involvement in Gensol Engineering’s high-profile Series B round has drawn attention amid the company’s stock crash and SEBI probe. Following previous setbacks like the Amrapali Group, this marks another instance of Dhoni’s ventures facing turbulence, highlighting the risks tied to high-growth equity investments.