On June 9, 2026, Adani Energy Solutions Ltd (AESL) announced the signing of a securities purchase and subscription agreement to acquire 100% equity shares of Intellismart Infrastructure Private Limited.
This strategic acquisition aligns with AESL's growth strategy and aims to enhance its presence in the smart metering sector.
The acquisition agreement was signed with the National Investment and Infrastructure Fund (NIIF), Energy Efficiency Services Limited, and Intellismart Infrastructure Private Limited.
The transaction, valued at ₹3,050 crore, involves the redemption of optionally convertible debentures held by NIIF.
Completion of the acquisition is subject to customary conditions, including anti-trust approval from the Competition Commission of India.
Intellismart Infrastructure, incorporated in India on November 13, 2019, specialises in implementing smart meter roll-out programmes.
The company collaborates with stakeholders to procure, deploy, and maintain smart meter infrastructure.
Intellismart reported a turnover of ₹621.3 crore in FY 2025, demonstrating significant growth from ₹243.5 crore in FY 2024 and ₹85 crore in FY 2023.
This acquisition is a significant step for AESL, as it expands its smart metering AMISP segment, increasing its installed and contracted smart meter portfolio to over 4.7 crore meters.
The transaction is expected to deliver synergies through economies of scale, optimisation of operations, and integration with AESL's broader energy and infrastructure platform.
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The acquisition is structured as a cash transaction. AESL aims to complete the acquisition within 180 days from the signing of the agreement, subject to regulatory approvals.
The acquisition does not fall under related party transactions, ensuring an arm's length deal.
As of June 09, 2026, at 12:59 PM, Adani Energy Solutions share price on NSE was trading at ₹1,564.60 down by 0.37% from the previous closing price.
Adani Energy Solutions' acquisition of Intellismart Infrastructure marks a strategic move to strengthen its position in the smart metering sector. By acquiring 100% equity shares, AESL is poised to leverage synergies and enhance its operational capabilities in the energy and infrastructure domain.
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Published on: Jun 9, 2026, 2:51 PM IST
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