GE Power India Limited has informed the Exchange regarding Notice of Postal Ballot
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GE Power India Limited (GEPIL) has sent a Postal Ballot Notice to shareholders seeking approval for three Material Related Party Transactions (RPTs) with GE Vernova group companies, totaling about INR 4,478 million. The transactions are: INR 1,478 million with Powerstatic Solutions India Pvt Ltd (for Tarapur and Kakrapara Excitation/Power Automation & Control Systems), INR 1,500 million with GE Vernova Hydro Power India Pvt Ltd (for Baleh, Saundatti, Trishuli Hydro Excitation Systems and URI II HMI Upgrade), and INR 1,500 million with GE Renewable Energy Technologies Pvt Ltd (for Sembcorp Control System and other services). Each transaction is roughly 9% of GEPIL's FY24 consolidated turnover of INR 16,248 million (or about 14% of continuing operations turnover of INR 10,386.7 million after divestment of Gas and Hydro businesses). Approval, if granted, will be valid for one year from 4 May 2025. Voting will be conducted via remote e-voting from 5 April 2025 to 4 May 2025, with results declared on or before 6 May 2025.
These are intra-group operational transactions with GE Vernova affiliates, conducted at arm's length in the ordinary course of business. While shareholder approval is required as the deals cross SEBI's materiality threshold, the financial impact is expected to be neutral for minority shareholders. Related parties cannot vote on these resolutions, so the outcome will depend on independent shareholder participation.