Adani Energy Solutions gets CCI approval for Rs 3,050-crore IntelliSmart acquisition
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Competition Commission of India approved Adani Energy Solutions' Rs 3,050-crore acquisition of IntelliSmart Infrastructure on Friday.
- ✓The deal involves buying 100% of IntelliSmart’s equity from NIIF and EESL.
- ✓This move helps Adani expand its smart metering business.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
The Competition Commission of India (CCI) has approved Adani Energy Solutions' Rs 3,050-crore acquisition of IntelliSmart Infrastructure. The transaction involves acquiring 100% of IntelliSmart's equity from NIIF and EESL, along with the redemption of optionally convertible debentures held by NIIF, expanding AESL's presence in the smart metering business.
The fair trade regulator cleared the proposed acquisition on Friday, which involves AESL purchasing IntelliSmart's entire equity share capital from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL).
"The Commission approves the acquisition of 100 per cent of the share capital of IntelliSmart Infrastructure Pvt Ltd by Adani Energy Solutions Ltd," the CCI said in a post on X.
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The Economic Times
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