PE Fund Investments
I Squared Capital invests $100-M for controlling stake in smart metering co Gram Power
Infrastructure focused Private Equity firm I Squared Capital has invested USD 100 million (INR 826.55 crore) in Jaipur-based smart metering firm Gram Power (India) Pvt Ltd, picking up a controlling stake. The fresh funds will be used to upgrade Gram Power's manufacturing capabilities to global standards, invest in R&D, talent upskilling and acquisitions, and participate in tenders Gram Power is a wholly-owned subsidiary of Singapore-based Polaris Smart Metering Pte Ltd. Post-deal, Gram Power will be rebranded as Polaris. Gram Power participates in competitive bidding processes to execute smart metering projects for the government. It also works with corporates to offer solutions for reducing energy costs.
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