Adani Energy Solutions Ltd (AESL) said it has executed a binding securities purchase and subscription agreement to acquire a 100% equity stake in IntelliSmart Infrastructure Private Ltd, a smart metering JV between National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL) for ₹3,050 crore.

The proposed acquisition will strengthen AESL’s position as India’s largest smart metering platform with over 4.7 crore smart meters, the company said. 

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“Acquisition of IntelliSmart enhances our scale and execution capabilities, enables us to support India’s power distribution modernization through technology-led solutions,” said Kandarp Patel, CEO, Adani Energy Solutions.

The acquisition is expected to deliver synergies through economies of scale, optimisation of operations and maintenance costs, and integration with AESL’s broader energy and infrastructure platform.