Polaris Smart Metering Secures INR 710 Crore Financing From BII for West Bengal Smart Meter Rollout

Jaipur, Rajasthan Oct 14, 2026 (EMWNews.com) – Polaris Smart Metering Private Limited announced on April 16, 2026, that it has secured financing of INR 710 crore, about USD 80 million, from British International Investment (BII), the United Kingdom’s development finance institution and impact investor. The funds were raised for Hooghly Smart Metering Private Limited, a wholly owned subsidiary of Polaris Grids, and will support the deployment of more than 2.2 million smart meters in the state of West Bengal.

Hooghly Smart Metering carries out the West Bengal project under an appointment by the West Bengal State Electricity Distribution Company Limited (WBSEDCL). Polaris was named an Advanced Metering Infrastructure Service Provider (AMISP) by the utility in 2024, with operations beginning in Hooghly district. An AMISP is an agency appointed by a power distribution company to supply, install and maintain smart meters along with the communication networks and data systems that connect them.

According to the company statement, the deployment is expected to help utilities improve billing accuracy, operational efficiency and consumer transparency at scale. Smart meters allow two-way communication between a utility and the meter, which lets usage data be read remotely instead of through manual readings.

Yashraj Khaitan, Founder and CEO of Polaris, described the financing as an important milestone in the company’s effort to help build a more transparent, future-ready power distribution system in India. Shilpa Kumar, Managing Director and Head of India at BII, said the institution is pleased to support Polaris as India strengthens its power distribution network.

Media reports on the announcement state that Polaris has an order book of approximately USD 1.1 billion, covering about 7.5 million electric meters across Uttar Pradesh, West Bengal and Manipur. In February 2026, the company reported that it had manufactured and deployed more than one million smart meters under the Government of India’s Revamped Distribution Sector Scheme (RDSS), a national programme that supports the modernisation of power distribution. The milestone was marked at the company’s manufacturing facility in Jaipur.

Polaris also supplies prepaid smart gas meters to city gas distribution companies, including THINK Gas and Megha Gas, under supply agreements signed in 2025.