JSW, Actis, Gemstar shortlisted in next round of Polaris sale process
What Happened
JSW Energy, Actis and Gemstar Infra have been shortlisted for the final stage of acquiring Polaris Smart Metering. The bidders have completed due diligence, and binding offers are expected by the end of October. The deal could value the smart-metering company at ₹1,800-2,000 crore.
Key Takeaways
The sale offers a potential exit for I Squared Capital, while the winning bidder will gain access to Polaris' large smart-meter projects in Uttar Pradesh and West Bengal, strengthening its position in India's fast-growing smart-metering market.