- Adani Energy Solutions got CCI approval to acquire IntelliSmart Infrastructure Pvt Ltd
- The deal involves acquiring 100% equity from NIIF and Energy Efficiency Services Ltd
- IntelliSmart provides advanced metering infrastructure and smart gas meters in India
Fair trade regulator CCI on Friday approved Adani Energy Solutions' proposal to acquire IntelliSmart Infrastructure. Adani Energy Solutions Ltd (AESL) is involved in electricity transmission and distribution, and deployment of advanced metering infrastructure in the country. The firm is part of billionaire Gautam Adani-led Adani Group.
"The proposed combination envisages the acquisition of 100 per cent of the equity share capital of the target (IntelliSmart Infrastructure Pvt Ltd) by the acquirer (Adani Energy Solutions Ltd) from National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL)," the regulator said in a statement.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
IntelliSmart Infrastructure is involved in providing advanced metering infrastructure for electricity in the country. It is also engaged in deploying certain smart gas meters in the country.
The Competition Commission of India (CCI) said it has cleared the proposed deal.
"The Commission approves the acquisition of 100 per cent of the share capital of IntelliSmart Infrastructure Pvt Ltd by Adani Energy Solutions Ltd," the regulator said in a post on X.
In June this year, Adani Energy Solutions announced that it has executed a binding securities purchase and subscription agreement to acquire a 100 per cent equity stake in IntelliSmart Infrastructure.
The Rs 3,050-crore transaction includes the acquisition of 100 per cent of the equity share capital of IntelliSmart and redemption of the optionally convertible debentures of IntelliSmart held by NIIF.
NIIF is India's sovereign-anchored alternative asset manager, while EESL is a joint venture of leading public sector undertakings under the Ministry of Power.
Deals beyond a certain threshold require approval from the regulator, which keeps a watch on unfair business practices as well as promotes fair competition in the marketplace.
READ | Adani Enterprises Q2 Review: Jefferies Maintains Buy, Sees 54% Upside; Motilal Oswal Stays Bullish
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.