Recently, GIC Affiliate and Genus Power Infrastructures Limited signed a definitive agreement to set up a platform to fund smart metering projects worth USD 2 billion initial pipeline. Investment by Chiswick Investment Pte Ltd, an affiliate of GIC, of up to Rs 519 crore by way of a preferential allotment of warrants which shall constitute (if and when GIC elects to exercise such warrants) 15% (fifteen percent) of the issued and paid-up share capital of Genus on a fully diluted/as converted basis.
Genus Power Infrastructures Limited is amongst the largest players in India’s electricity metering solutions industry, with a 27 per cent market share. The company is a market leader in various kinds of meters and has developed ‘smart metering solutions’, with in house R&D center. The company also has engineering, construction, and contracts (ECC) division which complements the existing meters business.
The stock has gained more than 600 per cent in the last three years. The company has an order book of more than Rs 6,000 crore and investors should keep a close eye on this stock.
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