By Enersider Desk | New Delhi | 9 June 2026
Adani Energy Solutions Limited (AESL) on Tuesday said it will acquire IntelliSmart Infrastructure Private Limited, a smart metering firm for INR 3050 crore.
“Adani Energy Solutions has executed a binding securities purchase and subscription agreement to acquire a 100% equity stake in IntelliSmart Infrastructure Private Limited, a joint venture between National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL),” the company said in an official statement.
The total consideration value for the transaction is INR 3,050 crore, which includes acquisition of 100% of the equity share capital of IntelliSmart and redemption of optionally convertible debentures held by NIIF. The transaction closing is subject to regulatory and other customary approvals, the statement added.
IntelliSmart is one of India’s leading owners and operators of smart meter assets, with a total portfolio of 2.2 crore meters across Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam. With this acquisition, AESL’s total smart meter portfolio will increase to over 4.7 crore meters, making it India’s largest smart metering platform.
Kandarp Patel, CEO, Adani Energy Solutions, said: “Acquisition of IntelliSmart enhances our scale and execution capabilities, enables us to support India’s power distribution modernization through technology-led solutions.”
Anil Rawal, MD & CEO, IntelliSmart, said: “IntelliSmart is proud to be part of this milestone transaction, which has created value for its stakeholders. This achievement is expected to catalyze further investments and accelerate the digitalization of the power distribution sector.”
Vinod Giri, Managing Partner, NIIF, said: “IntelliSmart’s evolution into one of the country’s leading smart metering platforms reflects NIIF’s ability to build and scale infrastructure businesses in emerging sectors of national importance.”
Akhilesh Dixit, CEO, EESL, said: “EESL has been committed to enabling energy efficiency and digital transformation across India’s power sector. We are proud of IntelliSmart’s contribution to the smart metering ecosystem.”
AESL is India’s largest private transmission company with a cumulative transmission network of 27,949 circuit kilometers and 1,23,175 MVA transformation capacity across 16 states. In its distribution business, AESL serves more than 13 million consumers in Mumbai and Mundra SEZ. The company has an order book of over 24.6 million smart meters.
Cyril Amarchand Mangaldas acted as legal advisor to AESL. Talwar Thakore & Associates acted as legal advisors to the sellers. Deloitte Touche Tohmatsu India acted as exclusive transaction advisor to the sellers.
