State-run EESL plans to sell its 49% stake in IntelliSmart

State-run Energy Efficiency Services Ltd plans to sell its 49% stake in IntelliSmart Infrastructure Pvt. Ltd, its joint venture with National Investment and Infrastructure Fund Ltd for smart metering and digital solutions, two people aware of the development said. IntelliSmart is in the process of replacing 27.6 million of India's 250 million conventional meters with smart meters, in the world’s largest such programme, aimed to reduce power theft and ensure reliable electricity supply. EESL, a joint venture of NTPC Ltd, Power Grid Corp. of India Ltd, Power Finance Corp. and REC Ltd, holds 332.2 million shares in IntelliSmart as per its annual report for FY24, with each share with a face value of ₹10. According to the Union power ministry's National Smart Grid Mission website, 222.4 million out of the targeted 250 million smart meters have been sanctioned, and 16.4 million meters have been installed so far.