Adani Energy Solutions Limited (AESL) has signed an agreement to acquire a 100 percent stake in IntelliSmart Infrastructure Private Limited for a total consideration of Rs 3,050 crore. The acquisition will significantly strengthen AESL’s position in India’s fast-growing smart metering sector.
The transaction includes the purchase of the entire equity share capital of IntelliSmart as well as the redemption of optionally convertible debentures held by the National Investment and Infrastructure Fund (NIIF). The deal is subject to regulatory approvals and other customary conditions before completion.
Smart Meter Portfolio To Exceed 4.7 Crore
With this acquisition, AESL is expected to become India’s largest smart metering platform. The company’s total smart meter portfolio will cross 4.7 crore meters.
IntelliSmart is currently among the top three smart metering companies in the country. It owns and operates a portfolio of more than 2.2 crore smart meters spread across Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam.
The company has established a strong presence in several high-growth electricity markets, providing a solid base for future expansion.
Strengthening Power Distribution Modernisation
AESL said the acquisition aligns with its strategy of expanding through both organic growth and strategic acquisitions. The company expects the deal to create operational benefits through economies of scale, improved efficiency and lower maintenance costs.
Kandarp Patel, CEO of Adani Energy Solutions, said the acquisition will enhance the company’s scale and execution capabilities while supporting India’s power distribution modernisation through technology-driven solutions.
Sellers Highlight Growth Journey
IntelliSmart Managing Director and CEO Anil Rawal described the deal as a milestone transaction that has created value for stakeholders. He said it is expected to encourage further investments and accelerate the digital transformation of India’s power distribution sector.
NIIF Managing Partner Vinod Giri said IntelliSmart’s growth demonstrates the fund’s ability to build and scale important infrastructure businesses. He added that the transaction marks a significant milestone for NIIF and helps unlock value for investors.
Energy Efficiency Services Limited (EESL), which jointly promoted IntelliSmart with NIIF, said the transaction would further strengthen the company’s ability to serve power distribution companies and consumers across India at a larger scale.