New SIDBI Grade A New Batch Starts on Nov 18

    Register

    Question

    GIC, Singapore, has launched a new platform in India to fund smart metering projects in the country with a capital outlay of $2 billion.GIC will hold a _______ stake; the balance will be Genus.

    A 56 percent Correct Answer Incorrect Answer
    B 61 percent Correct Answer Incorrect Answer
    C 74 percent Correct Answer Incorrect Answer
    D 81 percent Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    GIC, Singapore, has launched a new platform in India to fund smart metering projects in the country. The leading global investment firm has joined hands with Genus Power Infrastructures (Genus), a leading metering company, to set up the platform. GIC will hold a 74 percent stake; the balance will be Genus.The partners have committed to an initial pipeline with a capital outlay of $2 billion, and Genus would be the exclusive supplier to the platform for smart meters and associated services.

    Practice Next