Genus Power Infrastructures Ltd and GIC have signed definitive agreements with GIC to set up a ₹16,000 crores majority-owned smart meter platform in Singapore.

This represents the largest transaction in the smart metering space in India and positions Genus at the forefront of the smart metering revolution underway in the country. 

GIC will hold a 74% stake in the Platform with Genus holding 26% and also being the exclusive supplier. GIC will also make a 15% PIPE investment in Genus through warrants. 

Genus will scale up the deployment of energy “smart meters” across India, supporting energy security and transition through grid optimisation and efficiency.

Resolüt Partners advised GIC on this deal.

The deal team consisted of Shreejith R, Raina Mitra, Arjun Menon and Ruchir Sinha (Managing Partner).

The Diligence and operationalisation team consisted of Austin Thomas, Devarshi Paul, Isha Sen and Shivam Yadav.

TT&A advised Genus Power Infrastructure on this deal.

The transaction team consisted of Gautam Saha (Joint Managing Partner), Punita Gupta (Partner) and Akshita Alok (Managing Associate).

KPMG India provided support on tax, financial and commercial diligence.

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