ITI Limited quoted a price of ₹2,503 (~$38.50)/single phase smart meter to emerge as the lowest bidder in the second round of auctions conducted by Energy Efficiency Services Limited (EESL), a joint venture company of Public Sector Units of Ministry of Power and Government of India, to procure 5,000,000 smart meters. These smart meters will be installed over a period of three years in a phased manner in Uttar Pradesh and Haryana.