Genus Power Infrastructures has entered into Share Purchase Agreement (SPA) dated April 20, 2024 with Gemstar Infra Pte for transfer of 100% equity shares being held by Genus Power Infrastructures in its wholly owned subsidiary namely Hi-Print Metering Solutions (HPMSPL). Therefore, upon completion of the aforesaid transfer of shares, HPMSPL would cease to be wholly owned subsidiary of the Company. The aforesaid transfer being made in pursuance of the joint venture agreement dated July 04, 2023, by and between Gem View Investment, Gemstar Infra, Genus Power Infrastructures.
Further, HPMSPL holds 100% ownership in two Companies, namely Genus Assam Package-5 SPV and Hi-Print Assam Package-3 SPV. Consequent to the execution of the Share Purchase Agreement (SPA) dated April 20, 2024, and the aforementioned Companies would also cease to be wholly-owned step down subsidiaries of the Company.
Genus Power Infrastructures (GPIL) is engaged in the manufacture and distribution of electronic energy meters, power distribution management projects, hybrid microcircuits, inverters, batteries, home UPS and online UPS in India and abroad.
