Tuesday, September 01
The National Investment and Infrastructure Fund is considering selling its 51% stake in IntelliSmart Infrastructure, according to people familiar with the matter.NIIF is working with an adviser and sounding out interest from potential buyers, the people said, asking not to be identified because the deliberations are private. The fund, an investor in the smart electricity-meter company since 2019, is seeking a valuation of $500 million for IntelliSmart, they said.Considerations are ongoing and may not lead to a sale, the people said. NIIF didn’t respond to a request for comment. New Delhi-based IntelliSmart was set up as a joint venture between NIIF and Energy Efficiency Services Ltd. in 2019 to roll out a smart meter program to Indian power companies, according to an announcement at the
NEW DELHI: Russia's Sberbank plans to step up its India presence, eyeing retail expansion in 10 cities and a new data centre to support its operations over the next three years.Sberbank, which processes the largest share of India-Russia trade payments, is also looking at channelling rupee surplus of its investors into government securities, said Herman Gref, CEO and chairman of the executive board.The bank is also considering the export of gold to India, having secured a licence to do so. It's also examining entry into the education and healthcare sectors."We have a full banking licence here... we will expand our business in a step-by-step manner over the next three years. We will ramp up B2B business and enter into the B2C segment," Gref said.Gref is part of the delegation accompanying Ru
