Rajasthan-based smart metering solutions and services provider Genus Power Infrastructures Limited has signed a Share Purchase Agreement on Tuesday, to acquire an additional 86.49 per cent equity stake in Newlectric Innovation Private Limited (NIPL) for a total consideration of ₹25.23 crore. Upon completion of the transaction, NIPL will become a wholly owned subsidiary of Genus Power, strengthening the company’s position in the smart electricity metering and power infrastructure segment.
The acquisition involves the purchase of 34,36,717 equity shares, representing 86.49 per cent of NIPL’s equity share capital. Genus Power already holds a 13.51 per cent stake in the company. The transaction will be executed entirely in cash and is expected to be completed within 30 days from the date of signing the agreement.
Newlectric Innovation Private Limited was incorporated on November 29, 2021, and is engaged in the manufacturing of smart electricity meters for the power distribution and infrastructure sector. As of March 31, 2025, the company had a paid-up equity share capital of ₹3.97 crore.
In terms of financial performance, NIPL reported a turnover of ₹10.92 crore for the financial year ended March 31, 2025. The company recorded revenues of ₹43.27 crore in FY24 and ₹64.24 crore in FY23, indicating variability in performance over the last three financial years.
According to Genus Power, the acquisition is aligned with its strategic objectives and is expected to deliver operational synergies. The company aims to consolidate operations, optimise production capacity, and improve overall operational efficiency. The move is also intended to support scalability, enabling Genus Power to respond more effectively to its current order book and future growth opportunities, while strengthening its market presence in smart electricity meter manufacturing.
