PROJECT

Projects

Summary of Investment Information

Project Number

50633

Company Name

Gemstar Infra Pte Limited

Date SPI Disclosed

Jun 16, 2026

Country

India

Region

South Asia

Projected Board Date

Feb 27, 2026

Environmental Category

B - Limited

Status

Pending Signing

Last Updated Date

Jun 18, 2026

Department

Regional Industry - INF Asia & Pac

Industry

Infrastructure

Previous Events

Approved : Apr 6, 2026

Sector

Distribution Business

Additional Project Attributes

Public-Private Partnerships

Project Description

 

The proposed transaction involves IFC debt investment of up to INR 18,119 million (approximately equivalent to US$ 200 million, exchange rate: USD 1 = INR 90.5947 as of Feb 12, 2026), to nine Special Purpose Vehicles (collectively, the “Project SPVs”) of Gemstar Infra Pte Limited (“GIPL”) and will be utilized for installation, operation and maintenance of 13.6 million smart meters across three distribution companies in the state of Rajasthan (“Discoms”), namely: Jaipur Vidyut Vitran Nigam Limited (“JVVNL”), Ajmer Vidyut Vitran Nigam Limited (“AVVNL”) and Jodhpur Vidyut Vitran Nigam Limited (“JdVVNL”) (“the Projects”). Each concession will be implemented separately by each Project SPV and financed individually, with no cross collateralization. The proposed transaction is expected to improve electricity service quality, reduce Aggregate Technical & Commercial (“AT&C”) losses, advance digitalization of the power sector, and strengthen private sector participation in India’s distribution network.      

                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation