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Polaris Smart Metering will invest Rs 4,500 crore by 2027, including a new 250,000 sq ft facility in Rajasthan, set to double its smart meter production capacity to 10 million units annually by December 2026. The company currently holds a 10% market share and aims to increase it to 20% in three to five years.

Alongside this, Polaris will enter the battery energy storage market with an initial capacity of 1 GWh, targeting 5 GWh in total. Discussions for collaborations with global technology partners are ongoing. The company is also considering an IPO as long-term contracts enhance cash-flow visibility.