- Gem View Investment Pte Ltd is an affiliate of GIC (Singaporean sovereign wealth fund)
- Genus and Gem View have signed a definitive agreement to set up a Platform for undertaking Advanced Metering Infrastructure Service Provider (“AMISP”) concessions
- GIC will hold 74% (seventy four percent) stake while Genus will hold 26% (twenty
six percent) stake in the Platform - They have committed to an initial pipeline with a capital outlay of (approx.) USD Two billion. Genus would be the exclusive supplier to the Platform for smart meters and associated services
- Chiswick Investment Pte Ltd (an affiliate of GIC) will invest INR Five hundred and nineteen crores by way of a preferential allotment of warrants which shall constitute (if and when GIC elects to exercise such warrants) 15% (fifteen percent) of the issued and paid-up share capital of Genus on a fully diluted/as converted basis
- This explains the earlier intimation by Genus (on 17th June) about the incorporation of a wholly-owned subsidiary in Singapore namely “Gemstar Infra Pte. Ltd.” on June 16, 2023
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