Genus Power Infrastructures Limited has signed a Share Purchase Agreement on January 20, 2026, to acquire 86.49% equity in Newlectric Innovation Private Limited (NIPL). With its existing 13.51% stake, Genus will hold 100% ownership, making NIPL a wholly-owned subsidiary. The move aims to consolidate operations and expand smart meter production.
Genus Power Infrastructures Limited has announced a significant strategic acquisition, cementing its position in the power infrastructure and smart metering industry. The company will fully acquire Newlectric Innovation Private Limited (NIPL), a smart electricity meter manufacturer, through a cash transaction valued at Rs. 25.23 crore.
Key Highlights
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Completion of acquisition expected within 30 days, with NIPL becoming a wholly-owned subsidiary.
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Transaction classified as a Related Party Transaction, executed on an arm’s length basis.
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Acquisition involves 34,36,717 equity shares, representing 86.49% stake, in addition to Genus’s existing 13.51%.
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NIPL, incorporated in November 2021, has reported turnover of Rs. 64.24 crore (FY23), Rs. 43.27 crore (FY24), and Rs. 10.92 crore (FY25).
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Strategic rationale includes consolidation of operations, optimization of production capacity, and enhanced efficiency to meet growing demand.
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Industry focus remains within power infrastructure and distribution, aligning with Genus’s core business.
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No governmental or regulatory approvals required for the transaction.
This acquisition positions Genus Power to scale up production capacity, strengthen its order book, and drive future growth in the smart metering sector.
Sources: Company filing with BSE, NSE announcements