The Competition Commission of India (CCI) has approved the purchase of Intellismart Infrastructure by Adani Energy Solutions. The approval clears a deal worth 3,050 crore rupees, allowing the company to acquire 100% of Intellismart’s equity shares.
Intellismart Infrastructure is involved in providing advanced metering infrastructure for electricity. This technology is a focus area for the company as it integrates into the broader energy sector.
The transaction is more than a simple share purchase. Alongside the 3,050-crore payment for Intellismart’s equity, Adani Energy Solutions will redeem optionally convertible debentures held by the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL).
Adding Intellismart Infrastructure to its operations aligns with its existing presence in the energy sector.
Adani Energy Solutions is part of the Adani Group and is involved in the transmission and distribution of electricity in India. Adding Intellismart Infrastructure to its operations aligns with its existing presence in the energy sector.
NIIF and EESL held convertible debentures in Intellismart. By redeeming these debentures as part of the acquisition, the transaction completes the transfer of ownership and financial interests to Adani Energy Solutions.
With the CCI’s approval, Adani Energy Solutions is set to finalize the acquisition of Intellismart Infrastructure. The company continues to operate as a major player in advanced metering infrastructure in India.