Adani Energy acquires smart metering player IntelliSmart for ₹3,050 crore ...Middle East

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Adani Energy acquires smart metering player IntelliSmart for ₹3,050 crore
source : Business Standard ( Middle East ) () 17
Adani Energy Solutions on Friday said it has acquired IntelliSmart Infrastructure from National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL) for Rs 3,050 crore, a move that will boost the Adani Group entity's presence in the smart metering space. The Rs 3,050-crore transaction includes the acquisition of 100 per cent equity share capital of IntelliSmart and redemption of the optionally convertible debentures of IntelliSmart held by NIIF. IntelliSmart Infrastructure provides advanced metering infrastructure for electricity and deploys certain smart gas meters in the country. In an exchange filing, Adani Energy Solutions Ltd (AESL) said it has completed the acquisition of 100 per cent of the equity share capital of IntelliSmart from NIIF and EESL, and the optionally convertible debentures of IntelliSmart held by NIIF have been redeemed. On October 30, the fair trade regulator, the Competition Commission of India (CCI), approved Adani Energy

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