Adani Energy Solutions Limited (AESL) has announced plans to acquire IntelliSmart Infrastructure Private Limited, a leading smart metering platform in India, through a definitive securities purchase and subscription agreement. The proposed transaction is expected to significantly expand AESL’s presence in the country’s rapidly evolving digital power infrastructure market and establish the company as India’s largest smart metering platform.
Valued at approximately ₹3,050 crore, the transaction includes the acquisition of the entire equity share capital of IntelliSmart as well as the redemption of outstanding optionally convertible debentures held by the National Investment and Infrastructure Fund (NIIF). Completion of the acquisition remains subject to regulatory approvals and customary closing conditions. The acquisition will add IntelliSmart’s portfolio of more than 2.2 crore smart meters across key states including Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam. Combined with AESL’s existing smart metering business, the company’s overall portfolio will exceed 4.7 crore smart meters, creating one of the largest digital utility platforms in the country.
Smart metering has emerged as a critical component of India’s power sector modernization efforts, enabling utilities to improve billing accuracy, reduce transmission losses, enhance operational visibility and deliver better consumer services. The acquisition is expected to strengthen AESL’s capabilities in supporting large-scale utility transformation initiatives while accelerating the adoption of advanced digital technologies across the electricity distribution network.
Kandarp Patel, Chief Executive Officer of Adani Energy Solutions, said the acquisition enhances the company’s scale, operational capabilities and ability to support the modernization of India’s power distribution ecosystem through technology-driven solutions. He noted that the transaction aligns with AESL’s long-term strategy of pursuing growth opportunities that create sustainable value while expanding its infrastructure footprint.
IntelliSmart Managing Director and Chief Executive Officer Anil Rawal described the transaction as a significant milestone that reflects the value created through the company’s growth journey. He added that the combination is expected to drive additional investment and accelerate digital transformation across India’s power distribution sector.
Representatives from NIIF and Energy Efficiency Services Limited (EESL), IntelliSmart’s existing shareholders, also highlighted the company’s contribution to advancing smart metering adoption and supporting India’s broader energy transition goals. As India continues to invest in intelligent utility infrastructure under various government-led modernization programs, the proposed acquisition positions AESL to play a larger role in shaping the future of digital energy management. The transaction is expected to create operational synergies, improve efficiency and strengthen the delivery of technology-enabled energy solutions to utilities and consumers across the country.
Adani Energy Solutions Limited, part of the Adani portfolio, operates across key segments of the energy value chain, including power transmission, distribution, smart metering, and cooling solutions. The company is India’s largest private transmission operator, with a presence in 16 states, a transmission network spanning 27,901 circuit kilometres, and a transformation capacity of 1,18,175 MVA.
Through its distribution business, AESL serves over 13 million consumers in Mumbai and the Mundra SEZ. The company is rapidly expanding its smart metering operations and holds an order book exceeding 24.6 million meters, positioning it as one of the country’s leading smart metering integrators.
With integrated offerings, parallel distribution licences, and customised retail solutions—including a growing share of green power—AESL is reshaping how electricity is delivered to end consumers. The company continues to play a key role in advancing a reliable, affordable, and sustainable energy future for India.
