Adani Energy Solutions has executed a binding securities purchase and subscription agreement to acquire a 100% equity stake in IntelliSmart Infrastructure Private Limited, a leading smart metering JV between National Investment and Infrastructure Fund and Energy Efficiency Services Limited, for a total consideration value of Rs 3,050 crore.
According to a BSE filing, the proposed acquisition will strengthen Adani Energy Solutions’ position as India’s largest smart metering platform with over 4.7 crore smart meters. The transaction closing is subject to regulatory and other customary approvals.
The acquisition is in line with Adani Energy Solutions’ strategy to pursue value-accretive growth through both organic and inorganic opportunities.
IntelliSmart is one of India’s leading owners and operators of smart meter assets, with a total portfolio of 2.2 crore meters across five states. The company’s presence across high-growth consumer markets provides a strong runway for future expansion.
The acquisition of IntelliSmart enhances Adani Energy Solutions’ scale and execution capabilities, enabling it to support India’s power distribution modernization through technology-led solutions.
As part of the agreement, Adani Energy Solutions will acquire 100% of the equity share capital of IntelliSmart and redeem the optionally convertible debentures of IntelliSmart held by NIIF.
The order adds to Adani Energy Solutions’ existing portfolio of smart meters, strengthening its position in the smart metering segment.
The company’s CEO, Kandarp Patel, said, “Acquisition of IntelliSmart enhances our scale and execution capabilities, enables us to support India’s power distribution modernization through technology-led solutions.”
This acquisition reinforces Adani Energy Solutions’ position as a leading player in the energy sector, with a strong focus on technology-led solutions.
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