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New Delhi, June 9(CXO Media): Adani Energy Solutions Limited has agreed to acquire Intellismart Infrastructure Pvt. Ltd. in a Rs 3,050 crore all-cash deal aimed at expanding its smart metering business. The transaction was announced on Tuesday through a securities purchase and subscription agreement.
The deal gives Adani Energy Solutions 100% ownership of Adani Energy Solutions Limited in Intellismart Infrastructure Pvt. Ltd., strengthening its position in the Advanced Metering Infrastructure Service Provider (AMISP) segment. Intellismart Infrastructure Pvt. Ltd. is involved in large-scale smart meter rollout projects across India and has seen its revenue rise from Rs 85 crore in FY23 to Rs 621 crore in FY25.
The acquisition is part of Adani Energy Solutions’ broader strategy to scale both organically and through acquisitions in the energy infrastructure space. The company expects the combined smart metering portfolio to cross 4.7 crore installed and contracted meters after completion of the deal. The integration is expected to streamline operations and reduce maintenance costs across the network. The transaction will be completed after regulatory approvals, including clearance from the Competition Commission of India. The companies expect the process to close within 180 days, subject to customary conditions.
Following the announcement, shares of Adani Energy Solutions traded slightly lower at Rs 1,565.8, though the stock remains up around 50% year-to-date. The acquisition does not involve any related-party transaction, according to the company filing.
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