Chiswick Investment Pte. Ltd, an affiliate of Singapore sovereign wealth fund GIC, had launched a block deal to offload a 3.6% stake in Genus Power with an option to increase the sale by an additional 2.2%., sources told CNCB-TV18.
The base deal was valued at approximately ₹400 crore, with an upsize option of ₹250 crore, taking the total potential transaction size to ₹650 crore. The floor price has been set at ₹360 per share, representing a 6.5% discount to the stock’s last closing price, sources added.
Back in July 2023, Genus Power had signed definitive agreements with GIC and its affiliates, through which GIC ha invested a sum of ₹519 crore, to subscribe up to 15% of the company’s total equity via warrants.
GIC had also signed an agreement with Genus to set up a platform to undertake advanced metering infrastructure service provider concessions with an initial pipeline and capital outlay of up to $2 billion.
Genus Power had reported a fourth quarter net profit of ₹123 crore, up 24.2$ from the previous year. Its revenue more than doubled to ₹936.8 crore in the fourth quarter from ₹420 crore n the yea-ago period.
Its earnings before interest tax depreciation and amortisation (EBITDA) increased to ₹196.3 crore from ₹51 crore in the same period last fiscal. Its margin expanded by 800 basis points to 20.95% in the March quarter from 12.16% in the year-ago period.
Shares of Genus Power declined 3.9% to hit an intraday low of 369.95 apiece on Friday, June 13. Its shares were down 1.42% at ₹379.65 apiece at 9.45 am. The stock has gained 24.7% in the past month.
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First Published: Jun 13, 2025 9:44 AM IST
