JSW Energy, Actis and Gemstar near Polaris bids
In short
JSW Energy, Actis and Gemstar Infra are close to making binding bids for Polaris Smart Metering. A publisher summary says they have finished due diligence, and the deal is estimated at ₹1,800 crore to ₹2,000 crore.
This matters because the sale could decide who buys the smart metering business and at what price. The final winner and the closing outcome are still not stated.
What the reporting says
JSW Energy, Actis and Gemstar Infra have completed due diligence and are close to submitting binding bids for Polaris Smart Metering, according to a publisher-supplied summary. The deal is estimated at ₹1,800 crore to ₹2,000 crore and is moving into the next sale phase. What remains unknown is the final bidder, the eventual valuation and whether a transaction will close.
Why it matters
Polaris Smart Metering has moved into the next phase of its sale, with JSW Energy, Actis and Gemstar Infra reported to have finished due diligence and to be nearing binding bids. The publisher-supplied summary puts the deal at ₹1,800 crore to ₹2,000 crore. This points to active M&A interest in the smart metering space, but the final bidder, transaction terms and closing timeline remain unstated.