Commission approves acquisition of the equity share capital of IntelliSmart Infrastructure Private Limited (Target) by Adani Energy Solutions Limited (Acquirer)

Fair Competition For Greater Good भारतीय (cid:366)ित(cid:729)धा(cid:330) आयोग Competition Commission of India 30th October 2026 PRESS RELEASE No. 72/2026-27 Commission approves acquisition of the equity share capital of IntelliSmart Infrastructure Private Limited (Target) by Adani Energy Solutions Limited (Acquirer) The Proposed Combination envisages the acquisition of 100% of the equity share capital of the Target by the Acquirer from National Investment and Infrastructure Fund (NIIF/Seller 1) and Energy Efficiency Services Limited (EESL/Seller 2).

The Acquirer is part of the Adani Group and is a public listed company incorporated in India, listed on BSE Limited as well as the National Stock Exchange of India Limited. The Acquirer is primarily involved in the activities of transmission and distribution of electricity and in the business of deployment of advanced metering infrastructure for electricity in India.

The Target is, inter alia, involved in the activity of advanced metering infrastructure for electricity in India. The Target is also involved in the deployment of certain smart gas meters in India.

Detailed order of the Commission will follow. *****