Genus Power Infrastructures Ltd has entered into an agreement to acquire full ownership of Newlectric Innovation Pvt Ltd, in which Genus currently holds minority equity stake.
In a regulatory filing, Genus Power said that on January 20, 2026, it entered into an agreement to acquire around 34.35 lakh equity shares of Newlectric Innovation, representing 86.49 per cent of its equity capital, for a total consideration of Rs.25.23 crore.
Genus currently holds 13.51 per cent of the equity share capital of Newlectric Innovation, and post this transaction, Newlectric will become a wholly-owned subsidiary of Genus Power Infrastructures Ltd.
Registered in Uttarakhand and incorporated in November 2021, Newlectric Innovation Pvt Ltd is a manufacturer of smart electricity meters, clocking a sales turnover of Rs.10.92 crore in FY25.
The acquisition is expected to conclude in 30 days, the filing said.
Discussing the rationale of the acquisition, the Genus stock exchange filing said, “The acquisition aligns with the company’s strategic objectives, as it would enable the consolidation of operations, optimize production capacity utilization, and enhance operational efficiency. Further, by integrating it as a wholly owned subsidiary, the company would be well-positioned to scale up production capacity in response to current order book and future business growth.”
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