Adani Energy Solutions Ltd (AESL) on Friday announced the completion of its ₹3,050 crore acquisition of IntelliSmart Infrastructure, strengthening its presence in India's rapidly developing smart metering sector.
The company acquired the entire equity share capital of IntelliSmart from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL).
The transaction also includes the redemption of optionally convertible debentures held by NIIF, taking the total deal value to ₹3,050 crore.
In a regulatory filing, AESL confirmed that the acquisition and the associated debenture redemption had been completed.
The acquisition gives Adani Energy Solutions complete ownership of IntelliSmart, a company engaged in deploying advanced metering infrastructure for electricity distribution.
IntelliSmart also provides certain smart gas metering solutions in India.
The transaction is expected to strengthen AESL's existing smart metering operations and expand its presence in the country's energy infrastructure sector.
Adani Energy Solutions operates across electricity transmission, distribution and advanced metering infrastructure.
The company forms part of the Gautam Adani-led Adani Group.
The Competition Commission of India (CCI) approved the proposed acquisition on Oct 30, clearing an important regulatory requirement.
The competition regulator examines transactions meeting prescribed thresholds to ensure they do not adversely affect competition.
Adani Energy Solutions had announced a binding securities purchase and subscription agreement in June 2026 to acquire the entire equity stake in IntelliSmart.
Following regulatory approval, the company has now completed the transaction.
NIIF is a sovereign-anchored alternative asset manager in India, while EESL is a joint venture of public-sector undertakings operating under the Union Power Ministry.
The acquisition consolidates IntelliSmart's advanced metering activities under AESL and expands the Adani Group company's involvement in electricity distribution technology.
The completed deal represents another step in AESL's expansion of its smart metering portfolio.
