Adani Energy Solutions Limited (AESL) has completed the acquisition of 100 per cent equity share capital of IntelliSmart Infrastructure Private Limited for ₹3,050 crore, strengthening its position in India’s smart metering sector, the company said in a regulatory filing on Friday.
The company said the acquisition was completed on November 12 following receipt of the requisite anti-trust approval from the Competition Commission of India (CCI). The acquisition was made from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL). The optionally convertible debentures of IntelliSmart held by NIIF have also been redeemed.
AESL had earlier, on June 9, announced the execution of a securities purchase and subscription agreement for the proposed acquisition. The transaction was valued at ₹3,050 crore and was subject to regulatory and other customary approvals.
The acquisition is expected to consolidate AESL’s position as India’s largest smart metering platform, with a combined portfolio of more than 4.7 crore smart meters. IntelliSmart, which was among India’s leading smart metering players, had a portfolio of over 2.2 crore meters across five states, including Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam.
Published on November 13, 2026
