New Delhi, Nov. 21 -- State-run Energy Efficiency Services Ltd (EESL) plans to sell its 49% stake in IntelliSmart Infrastructure Pvt. Ltd, its joint venture with National Investment and Infrastructure Fund Ltd (NIIF) for smart metering and digital solutions, two people aware of the development said.

The deal, that may rank among the biggest in India's energy services space, will start with mandating an investment banker for running the sale process.

IntelliSmart is in the process of replacing 27.6 million of India's 250 million conventional meters with smart meters, in the world's largest such programme, aimed to reduce power theft and ensure reliable electricity supply. EESL, a joint venture of NTPC Ltd, Power Grid Corp. of India Ltd, ...