The Competition Commission of India (CCI) has approved the acquisition of 100% of the equity share capital of IntelliSmart Infrastructure Pvt Ltd by Adani Energy Solutions Ltd, an Adani Group company engaged in electricity transmission, distribution and advanced metering infrastructure.
The acquisition will be made from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL), the two sellers.
Adani Energy Solutions operates in power sector
Adani Energy Solutions is a publicly listed company incorporated in India, with its shares listed on the BSE and the National Stock Exchange.
Its business activities primarily cover electricity transmission and distribution, along with the deployment of advanced metering infrastructure in India.
IntelliSmart focuses on smart metering
IntelliSmart Infrastructure is engaged in the deployment of advanced metering infrastructure for electricity in India. It is also involved in the deployment of certain smart gas meters in the country.
The approved transaction envisages the transfer of the entire equity share capital of IntelliSmart to Adani Energy Solutions.