Adani Energy Solutions has signed the securities purchase and subscription agreement (SPSA) with National Investment and Infrastructure Fund (NIIF), Energy Efficiency Services and Intellismart Infrastructure (Intellismart) for acquiring 100% of the equity share capital of Intellismart and redemption of the optionally convertible debentures of Intellismart held by NIIF (Transaction). The cost of the transaction is Rs 3,050 crore, subject to terms of the SPSA.
The acquisition is in line with the company’s value-added growth strategy through organic as well as inorganic growth opportunities. The company will significantly expand its presence in the smart metering AMISP segment, taking its cumulative installed and contracted smart meter portfolio to over 4.7 crore meters. The acquisition is expected to deliver synergies through economies of scale, optimisation of operations and maintenance costs, and integration with the company’s broader energy and infrastructure platform, further strengthening its position.
Adani Energy Solutions (formerly known as Adani Transmission) is the transmission business arm of the Adani Group, one of India’s largest business conglomerates.
