Genus Power Acquires Remaining Stake in Newlectric Innovation
Filing Summary
Genus Power Infrastructures Limited has executed a Share Purchase Agreement to acquire the remaining 86.49% equity shares of Newlectric Innovation Private Limited for Rs. 25 crore. This acquisition will make Newlectric a wholly-owned subsidiary of Genus Power. The transaction is classified as a related party transaction and is conducted on an arm’s length basis. The acquisition is expected to be completed within 30 days. Newlectric, incorporated in 2021, specializes in manufacturing smart electricity meters. This move aligns with Genus Power’s strategic objectives to consolidate operations and optimize production capacity.
Genus Power Infrastructures Limited has entered into a Share Purchase Agreement on January 20, 2026, to acquire 86.49% of the equity shares of Newlectric Innovation Private Limited. The company already holds 13.51% of the equity shares in Newlectric. Upon completion of this transaction, Newlectric will become a wholly-owned subsidiary of Genus Power. The acquisition is part of the company’s strategic objectives to consolidate its operations and enhance its production capabilities.
The financial terms of the acquisition involve the purchase of 34,36,717 equity shares, representing 86.49% of Newlectric’s equity share capital, for a total consideration of Rs. 25 crore. The transaction is classified as a related party transaction and has been conducted on an arm’s length basis. As of March 31, 2025, Newlectric’s paid-up equity share capital was Rs. 3.97 crore, and its turnover was Rs. 10.92 crore.
Newlectric Innovation Private Limited operates in the power infrastructure and distribution industry, focusing on the manufacturing of smart electricity meters. The acquisition is intended to align with Genus Power’s strategic objectives by enabling the consolidation of operations, optimizing production capacity utilization, and enhancing operational efficiency. By integrating Newlectric as a wholly-owned subsidiary, Genus Power aims to scale up production capacity in response to its current order book and future business growth.
The acquisition does not require any governmental or regulatory approvals and is expected to be completed within 30 days. The consideration for the acquisition will be in cash. Upon completion, Genus Power will hold 100% of the equity shares of Newlectric, thereby gaining full control over its operations.
Newlectric Innovation Private Limited was incorporated on November 29, 2021. It is engaged in the manufacturing of smart electricity meters. The company reported a turnover of Rs. 64.24 crore for the year ending March 31, 2023, Rs. 43.27 crore for the year ending March 31, 2024, and Rs. 10.92 crore for the year ending March 31, 2025.
Genus Power Infrastructures Limited is a leading player in the power infrastructure sector, focusing on the development and manufacturing of smart metering solutions. The company prioritizes strategic acquisitions to enhance its operational capabilities and expand its market presence. By acquiring Newlectric, Genus Power aims to strengthen its position in the smart metering industry and optimize its production processes.