ITI quotes the lowest bid of Rs 2,503 per unit in EESL’s reverse auction for smart meters

ITI Limited has quoted the lowest bid of Rs 2,503 per unit in the reverse auction conducted by Energy Efficiency Services Limited (EESL) for the procurement of 5 million smart meters. The second and third lowest bidders in the auction were Genus Power Infrastructure Limited and KEONICS. The bid price in this round has come down from Rs 2,722 per unit, quoted by L&T in the previous tender, which has reduced the total cost of procurement by Rs 1.32 billion. EESL will invite Genus Power and KEONICS to match the price quoted by ITI.

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