The National Funding and Infrastructure Fund is fascinated by promoting its 51% stake in IntelliSmart Infrastructure, in step with of us conscious of the matter.
NIIF is working with an adviser and sounding out ardour from doable merchants, the of us talked about, asking no longer to be identified because the deliberations are personal. The fund, an investor in the super electricity-meter company since 2019, is in quest of a valuation of $500 million for IntelliSmart, they talked about.
Considerations are ongoing and may perchance perchance no longer result in a sale, the of us talked about.
NIIF didn’t respond to a query for comment.
Fresh Delhi-essentially essentially based IntelliSmart used to be station up as a joint endeavor between NIIF and Energy Effectivity Companies and products Ltd. in 2019 to roll out a gleaming meter program to Indian vitality companies, in step with an announcement on the time. The meters may perchance perchance be read remotely and are furthermore used to name network failures, moreover as present consumption knowledge to inspire households lower their energy payments.
NIIF, a quasi-sovereign wealth fund established in 2015 by the Indian authorities to influence infrastructure, manages over $4.9 billion resources, with more than 75 pronounce and indirect investments, in step with its web page.
NIIF’s asset disposals this 365 days appreciate included the sale of Ayana Renewable Energy, some highways in Jammu and Kashmir, and a stake in electric-car maker Ather Energy Ltd.
