Acquisitions20 Jan 2026, 07:31 pm
Genus Power Infrastructures Ltd. to Acquire 86.49% Stake in Newlectric Innovation Private Limited
AI Summary
Genus Power Infrastructures Limited has entered into a Share Purchase Agreement (SPA) to acquire 86.49% of the equity shares of Newlectric Innovation Private Limited (NIPL), making NIPL a wholly-owned subsidiary of the Company. The acquisition aligns with the Company’s strategic objectives and is expected to enhance operational efficiency and production capacity. The total consideration for the acquisition is Rs. 25.23 crore.
Key Highlights
- Genus Power Infrastructures Ltd. to acquire 86.49% stake in Newlectric Innovation Private Limited
- Newlectric Innovation Private Limited is a manufacturer of smart electricity meters
- Acquisition to enhance operational efficiency and production capacity
- Total consideration for the acquisition is Rs. 25.23 crore
- Newlectric Innovation Private Limited will become a wholly-owned subsidiary of Genus Power Infrastructures Limited