The British International Investment (BII), the UK’s development finance institution, acquired Polaris Smart Metering Pvt Ltd of India for $80 million on April 16, 2026. The deal aims to support Polaris in deploying over 2.2 million smart meters across West Bengal.
| Acquirer | Target | Value (USD) | Type | Closed Date | Buy-side Advisors |
|---|---|---|---|---|---|
| British International Investment | Polaris Smart Metering Pvt Ltd | $80 million | Acquisition | April 16, 2026 | BII |
Deal Mechanics
The acquisition closed on April 16, 2026, with British International Investment (BII) taking a controlling stake in Polaris Smart Metering Pvt Ltd. BII provided $80 million to facilitate the deployment of over two million smart meters throughout West Bengal.
Strategic Rationale
The acquisition aligns with BII’s commitment to supporting sustainable growth in India, particularly in sectors such as energy infrastructure and technology. Polaris’ expertise in metering solutions is expected to accelerate the transition towards digital grid management in a region that has significant demand for modernized electricity distribution.
Financial Context
Polaris Smart Metering Pvt Ltd operates within India’s rapidly evolving smart metering sector, where adoption rates are increasing as utilities seek more efficient billing and operational processes. This investment by BII underscores the growing interest of international investors in the Indian market for advanced energy solutions.
Advisors
BII served as its own buy-side advisor for this deal. No sell-side or legal advisors were disclosed by either party involved.
Outlook
The deployment of smart meters is anticipated to significantly improve the efficiency and reliability of power distribution in West Bengal, paving the way for broader adoption across other Indian states. BII’s involvement signals a strategic shift towards leveraging technology to support sustainable development goals.