Adani Energy To Acquire IntelliSmart In ₹3,050 Crore Deal, Set To Become India’s Largest Smart Meter Company

The acquisition of IntelliSmart Infrastructure will significantly expand Adani Energy Solutions’ smart metering business, taking its portfolio beyond 4.7 crore smart meters across the country.

Adani Energy Solutions Limited (AESL) has signed a definitive agreement to acquire IntelliSmart Infrastructure Private Limited for ₹3,050 crore, a move that is expected to strengthen its position in India’s rapidly expanding smart metering sector.

The company announced that it will acquire a 100 per cent equity stake in IntelliSmart Infrastructure, a leading smart meter company jointly owned by the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL).

According to the company, the proposed transaction includes the acquisition of the entire equity share capital of IntelliSmart as well as the redemption of optionally convertible debentures held by NIIF.

Once the deal receives regulatory and other required approvals, Adani Energy Solutions will become the country’s largest smart meter company with a portfolio exceeding 4.7 crore smart meters.

IntelliSmart currently operates more than 2.2 crore smart meters across several states, including Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam. The company’s strong presence in these markets is expected to provide Adani Energy with a significant platform for future growth and expansion.

The acquisition also marks an important milestone for IntelliSmart, which was established as a joint venture between NIIF and EESL to support energy efficiency and digital transformation initiatives in the power sector.

Apart from smart electricity metering, IntelliSmart has also undertaken pilot projects in smart gas metering, indicating potential opportunities for expanding technology-driven utility solutions.

Adani Energy Solutions said the acquisition will help modernise India’s power distribution network through advanced technology and digital infrastructure.

Commenting on the development, Adani Energy Solutions CEO Kandarp Patel said, “The acquisition of IntelliSmart will expand our reach and capabilities, enabling us to modernize India’s power distribution system through technology-based solutions.”

The company added that the transaction is expected to generate benefits through larger operating scale, improved maintenance efficiencies and better integration with its broader energy and infrastructure ecosystem.

IntelliSmart Managing Director and CEO Anil Rawal also welcomed the deal, saying, “The company is proud to be part of this significant transaction, creating value for its shareholders.”

The acquisition provides an exit opportunity for NIIF and reflects its strategy of building infrastructure platforms and monetising investments after achieving scale.

The transaction remains subject to regulatory clearances and customary approvals before it can be formally completed. Once finalised, it is expected to further accelerate the adoption of smart metering technology and digital energy management solutions across India.