Adani Energy to acquire smart meter player for ₹3. 1k cr

NEW DELHI: Adani Energy Solutions (AESL) has inked a securities purchase agreement to acquire a 100% equity stake in IntelliSmart Infrastructure for Rs 3,050 crore. IntelliSmart Infrastructure is a leading smart metering JV between National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services (EESL).The proposed acquisition will strengthen AESL’s position as India’s largest smart metering platform with over 4.7 crore smart meters.The proposed transaction, subject to regulatory approvals, includes the acquisition of 100% of the equity share capital of IntelliSmart and redemption of the optionally convertible debentures of IntelliSmart held by NIIF.