Genus Power to acquire full stake in Newlectric Innovation

Genus Power Infrastructures Limited has signed an agreement to acquire the remaining 86.49% equity stake in Newlectric Innovation Private Limited (NIPL), making it a wholly owned subsidiary. The acquisition, valued at Rs 25.23 crore, was disclosed in a regulatory filing to the stock exchanges on 20 January 2026.

The transaction is being executed through a Share Purchase Agreement. Before entering into this agreement, Genus Power held a 13.51% stake in NIPL. The company said the acquisition is expected to be completed within 30 days, after which NIPL will be fully consolidated into Genus Power’s operations.

According to the filing, NIPL operates in the power infrastructure and distribution sector, with a focus on manufacturing smart electricity meters. NIPL was incorporated on 29 November 2021. The disclosure stated that the acquisition qualifies as a related party transaction and was carried out on an arm’s length basis.

Genus Power said the acquisition aligns with its strategic objectives by allowing operational consolidation, better utilisation of production capacity, and improved efficiency. The company added that the move will support scaling up of manufacturing to meet its existing order book and expected future demand.