Mergers & Acquisitions
Adani Energy Solutions Closes IntelliSmart Buy After Competition Commission Approval
By News Desk ·
Key takeaways
- Adani Energy Solutions completed the acquisition of 100% equity in IntelliSmart Infrastructure on November 12, 2026.
- The Competition Commission of India approved the deal, which was executed under a June 2026 share purchase agreement.
- NIIF and EESL sold their IntelliSmart shares, and NIIF's optionally convertible debentures were redeemed.
Adani Energy Solutions completed the acquisition of 100% equity in IntelliSmart Infrastructure Private Limited on November 12, 2026, after receiving Competition Commission of India approval. ScanX reported the closing. Adani Energy Solutions is India's largest private power transmission and distribution company, operating 27,949 ckt km of transmission lines across 16 states. IntelliSmart provides advanced metering infrastructure and smart gas meters.
How the IntelliSmart Deal Closed
The transaction closed on November 12, 2026, following receipt of the requisite antitrust approval from the Competition Commission of India. Adani Energy Solutions acquired the shares from National Investment and Infrastructure Fund and Energy Efficiency Services Limited. The closing finalizes the Securities Purchase and Subscription Agreement executed earlier in June 2026. Optionally convertible debentures of IntelliSmart held by NIIF were redeemed as part of the closure process. The completion was disclosed pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
IntelliSmart's Place in Adani's Metering Platform
According to akta.pro company records, Adani Energy Solutions acquired 100% of IntelliSmart Infrastructure for Rs 3,050 crore in June 2026, creating India's largest smart metering platform with over 47 million meters across five states. The same records show EESL, a joint venture between NSEEs and state utilities, held a 49% stake in IntelliSmart. The acquisition supports the government's Revamped Distribution Sector Scheme for installing 250 million smart meters.
Adani Energy Solutions' Run of Acquisitions
The Competition Commission of India approved Adani Energy Solutions' acquisition of IntelliSmart Infrastructure, a provider of advanced metering infrastructure and smart gas meters, The Times of India reported in October 2026. In October 2026, ScanX reported that Adani Energy Solutions executed a Share Purchase Agreement on October 6, 2026, to acquire 100% equity of Satara Power Transmission Limited, supporting a ₹4,700 crore transmission project in Maharashtra for evacuating 4,500 MW of renewable and storage power. In March 2026, the company completed its acquisition of South Kalamb Power Transmission from PFC Consulting, according to akta.pro company records, enhancing transmission and power evacuation capacity for the Mumbai region.