The Competition Commission of India (CCI) has granted approval for the acquisition of 100% equity share capital of IntelliSmart Infrastructure Private Limited by Adani Energy Solutions Limited. The proposed combination involves the complete acquisition of the target company's equity from both National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL).
Adani Energy Solutions Limited, part of the Adani Group, is a publicly listed company incorporated in India and traded on both BSE Limited and the National Stock Exchange of India Limited. The company's primary business activities include electricity transmission and distribution, along with deployment of advanced metering infrastructure for electricity in India.
IntelliSmart Infrastructure Private Limited is primarily engaged in advanced metering infrastructure for electricity in India and also involved in the deployment of smart gas meters within the country. The acquisition represents consolidation in the smart metering infrastructure sector, bringing together two entities with complementary expertise in electricity and gas metering solutions.