Adani Energy Solutions Ltd (AESL) has received approval from the Competition Commission of India (CCI) to acquire 100% of IntelliSmart Infrastructure Pvt Ltd in a ₹3,050-crore deal. The regulatory clearance marks a key step towards completing the acquisition and strengthening the Adani Group company’s position in India’s smart metering market.
The CCI approved the acquisition on October 30. The transaction involves AESL purchasing IntelliSmart’s entire equity share capital from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL).
₹3,050-Crore Deal Structure
The transaction, announced in June 2026, includes the acquisition of IntelliSmart’s entire equity share capital and the redemption of optionally convertible debentures held by NIIF. AESL had entered into a binding securities purchase and subscription agreement with the existing shareholders.
The proposed acquisition is valued at ₹3,050 crore. With the CCI’s approval secured, the deal has cleared a major regulatory requirement.
IntelliSmart’s Smart Metering Business
IntelliSmart is a provider of advanced metering infrastructure (AMI) solutions for electricity distribution companies. It is also involved in the deployment of certain smart gas meters in India.
The company has a portfolio of more than 2.2 crore smart meters across five states: Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam.
AESL operates in electricity transmission and distribution, along with advanced metering infrastructure. The acquisition is expected to expand its smart metering operations and strengthen its position in India’s power distribution modernisation market.
AESL’s Smart Metering Expansion
Adani Energy Solutions had stated that the acquisition would help it build a smart metering portfolio of more than 4.7 crore meters, positioning it as India’s largest smart metering platform.
The company expects the integration to support operational efficiencies, economies of scale and stronger execution capabilities. The expansion also comes amid India’s wider push to modernise electricity distribution networks through smart meter deployment under the Revamped Distribution Sector Scheme (RDSS).
