Genus Power gains on entering into SPA to transfer 100% equity shares of Hi-Print Metering Solutions
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Genus Power Infrastructures is currently trading at Rs. 306.35, up by 4.80 points or 1.59% from its previous closing of Rs. 301.55 on the BSE.
The scrip opened at Rs. 306.50 and has touched a high and low of Rs. 315.00 and Rs. 304.10 respectively. So far 18823 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 343.80 on 08-Feb-2024 and a 52 week low of Rs. 84.45 on 23-May-2023.
Last one week high and low of the scrip stood at Rs. 315.00 and Rs. 257.25 respectively. The current market cap of the company is Rs. 9272.11 crore.
The promoters holding in the company stood at 42.66%, while Institutions and Non-Institutions held 21.87% and 35.46% respectively.
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.
