Genus Power shares hit 20% upper circuit on JV formation with GIC affiliate
Shares of Genus Power Infrastructures hit the 20% upper circuit at Rs 168.9 in Wednesday’s trade on BSE after the company signed an agreement for setting up a platform to fund smart metering projects with an affiliate of Singapore sovereign wealth fund GIC at an initial commitment of $2 billion.
Genus Power, founded in 1995, is amongst the largest players in India’s electricity metering solutions industry, with approximately 27% market share. The company has manufacturing plants across Jaipur, Haridwar and Guwahati, with a total installed capacity of over 10 million meters.
