ITI has emerged as the lowest bidder for 50 lakh smart meters quoting a rate of Rs 2,503 per unit, followed by Genus Power and KEONICS in a reverse auction by EESL. The total procurement cost of 50 lakh units has been reduced by Rs 132 crore due to reverse auction.
Earlier this month, L&T had quoted the lowest price for smart meters at Rs 2,722 per unit, which was 40-50 per cent lower than the current market price.
ITI offers products and services in the telecom sector. The company has a range of telecom products and total solutions covering the whole spectrum of switching, transmission, access and subscriber premises equipment.
