The board of Genus Power Infrastructures has allotted 6,00,000 fully paid-up equity shares of the company of face value Rs 10 per equity share at a subscription price of Rs 560 per equity share, to the financial investors like ABG Holdings (5,00,000 equity shares) and Rajni Jain (1,00,000 equity shares).
These shares were allotted at the board meeting held on 30 October 2007.
On 7 September 2007, Genus Power Infrastructures (GPIL) introduced a new product radio frequency identification (RFID) based contact less smart card pre paid meter, which has distinct advantages over the conventional key paid based or plug in type card based pre paid meters. The new product will ensure advance revenue collection by power utilities.
GPIL’s net profit rose 62.88% to Rs 9.17 crore on 29.16% growth in sales to Rs 100.73 crore in Q2 September 2007 over Q2 September 2006.
The company is engaged in designing and manufacturing of high-end programmable multi-functional intelligent single phase & three phase meters with in-built advanced security and anti-tamper features, automatic meter reader enabled meters, trivector meters, time of the day meters, audit meters, hybrid microcircuits and resistor network.
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