Gemstar Infra secures Rs 1,220 crore debt for three smart metering projects
Gemstar Infra has completed debt financing arrangements worth Rs 1,220 crore for three smart metering projects in Jammu and Rajasthan, strengthening the funding base for its Advanced Metering Infrastructure Service Provider (AMISP) portfolio.
The financing has been secured from IDFC FIRST Bank and ICICI Bank. IDFC FIRST Bank has financed two projects, one each in Jammu and Rajasthan, while ICICI Bank has provided funding for another project in Rajasthan.
The projects are being implemented under the AMISP model, which is being increasingly adopted by distribution utilities to deploy smart metering infrastructure across the country.
According to the company, the debt tie-up marks a key milestone in the execution of its smart metering pipeline and supports the rollout of advanced metering infrastructure aimed at improving billing efficiency, reducing losses and enabling digitalisation of power distribution networks.
Gemstar Infra said the participation of leading financial institutions reflects lender confidence in the underlying projects and the long-term viability of the AMISP framework in India’s power distribution sector.
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