AESL to acquire 100% of Intellismart for ₹3,050 Cr

Adani Energy Solutions Limited (AESL) has signed a Securities Purchase and Subscription Agreement to acquire 100% of the equity share capital of Intellismart Infrastructure Private Limited and redeem optionally convertible debentures held by NIIF. The transaction is valued at ₹3,050 crores, payable in cash. This acquisition aligns with AESL's growth strategy, significantly expanding its presence in the smart metering AMISP segment and increasing its cumulative smart meter portfolio to over 4.7 Crore meters. The deal is expected to generate synergies through economies of scale and operational optimization. Completion is subject to customary conditions, including anti-trust approval from the Competition Commission of India, and is expected within 180 days. Intellismart, incorporated in 2019, reported a turnover of ₹621.32 crores in FY 2025 and specializes in smart meter roll-out programs.