Genus Power Infrastructures today, August 28, has announced the incorporation of a wholly-owned step-down subsidiary named Genus Dhundar Smart Metering SPV Private Limited. The subsidiary was established on August 27, 2024, under the Companies Act, 2013, with an authorized capital of ₹1 lakh.
Genus Dhundar Smart Metering SPV Private Limited has been created as a Special Purpose Vehicle (SPV) to execute Advanced Metering Infrastructure Service Provider (AMISP) contracts. The subsidiary will focus on the manufacturing and management of various types of smart, advanced, and prepaid meters.
The company confirmed that this new subsidiary falls within the category of a related party transaction, but the promoters, promoter group, or any related group companies do not have any interest in the newly acquired entity beyond the transaction itself. Genus Power Infrastructures holds 100% of the equity shares of the subsidiary through its wholly-owned subsidiary, Genus Metering Communication Private Limited.
The incorporation of Genus Dhundar Smart Metering SPV Private Limited marks a significant step in Genus Power Infrastructures’ ongoing strategy to expand its footprint in the smart metering and infrastructure services sector.
