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The Economic Times

Adani Energy Solutions to acquire IntelliSmart for Rs 3,050 crore, to become India's largest smart metering platform

IntelliSmart Adani Energy Solutions India AESL NIIF

Adani Energy Solutions Limited (AESL) on Monday said it has signed a binding securities purchase and subscription agreement (SPSA) to acquire a 100% equity stake in IntelliSmart Infrastructure Private Limited for a total consideration of Rs 3,050 crore.

The acquisition, subject to regulatory and other customary approvals, will give AESL a combined smart meter portfolio of over 4.7 crore meters, making it India's largest smart metering platform, the company said in a BSE filing.

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