Adani Energy Acquires IntelliSmart For ₹3,050 Crore

Adani Energy Solutions Ltd. (AESL) entered into an agreement to acquire the entirety of smart meter company IntelliSmart Infrastructure for an enterprise value of ₹3,050 crore. This acquisition will help the company to position itself strongly in the rapidly expanding power distribution modernisation sector of India. It will significantly ramp up Adani Energy's smart metering business, leading to the potential creation of the largest smart metering platform in India.

The news is likely to direct investor attention to AESL’s stock. At the close of the day on 09 June 2026, Adani Energy’s share price was ₹1,579.2 on the National Stock Exchange.

Combined Portfolio Crosses 4.7 Crore Smart Meters

With the acquisition, Adani Energy's total smart meter portfolio will exceed 4.7 crore meters. IntelliSmart alone has a portfolio of more than 2.2 crore smart meters spread across key states including Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam.

The transaction includes the acquisition of IntelliSmart's equity stake as well as the redemption of optionally convertible debentures held by the National Investment and Infrastructure Fund (NIIF). NIIF and Energy Efficiency Services Ltd. (EESL) are IntelliSmart's current backers. The deal will be finalised upon obtaining the necessary regulatory approvals and the typical conditions being fulfilled.

Adani's Strategic Move Into India's Power Sector Modernisation

Smart meters are fast gaining popularity as a crucial component of India's power sector. The reasons behind this are their capability to allow consumers to check the power usage instantly, to minimise power-related thefts and to make the billing process more accurate.

Adani Energy has already emerged as one of the biggest smart-metering companies. During FY26, the company added 8.2 million smart meters, exceeding its management target of 7 million installations for the year. Analysts expect the pace of deployment to remain strong, with estimates factoring in installations of around 11 million meters annually during FY27 to FY29.

The acquisition gives Adani Energy greater scale, wider geographical reach and stronger execution capabilities in the smart metering segment.

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Source:

The Economic Times