Technicians install smart meters in an urban setting, reflecting energy infrastructure development.
I Squared Capital, a US-based private equity firm, is reportedly looking to divest its stake in Polaris Smart Metering. The fund has engaged an investment bank to manage the sale process for its interest in the smart metering company.
Polaris Smart Metering, which has secured contracts for smart meter installations in the Indian states of Uttar Pradesh and West Bengal, is understood to be valued at around $200 million. The company recently secured financing from British International Investment, indicating ongoing strategic moves within its capital structure.
The potential exit by I Squared Capital signifies a shift in the firm’s investment portfolio within the smart metering sector. Polaris Smart Metering’s operations in key Indian states position it as a significant player in the country’s energy infrastructure development.
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