GE Power India Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) - Disclosure of Event and Information'.
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GE Power India Limited's Board of Directors has approved two agreements with Quality Profiles Private Limited (QPPL). The first is a Leave and License Agreement granting QPPL the right to use specified land, shed and infrastructure at Vadodara to set up a facility. The second is a Contract Manufacturing Agreement under which QPPL will serve as contract manufacturer for refurbishment and repair of large rotating equipment, as well as manufacture and supply of related spares and components. The detailed disclosures as required under SEBI regulations will be submitted after the agreements are executed.
This partnership allows GE Power India to leverage QPPL's manufacturing capabilities for its rotating equipment operations through an asset-light model. For shareholders, this signals potential cost optimisation and operational flexibility, though detailed financial terms are yet to be disclosed.