India’s competition regulator clears Adani’s ₹3,050-crore IntelliSmart takeover
India’s competition regulator has cleared Adani Energy Solutions’ ₹3,050-crore takeover of smart-meter company IntelliSmart Infrastructure, removing the biggest regulatory hurdle to one of the country’s largest deals in the electricity metering sector. The Competition Commission of India (CCI) announced the approval on Saturday, 31 October.
Under the deal, Adani Energy Solutions will buy 100 per cent of IntelliSmart’s shares from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL). The ₹3,050-crore price also covers the redemption of optionally convertible debentures held by NIIF. At the end of March 2026, NIIF held 51 per cent of IntelliSmart and EESL held 49 per cent.
IntelliSmart builds and operates advanced metering infrastructure — the smart electricity meters that record use in near real time and send readings back to suppliers, replacing manual meter reading. Adani Energy Solutions first announced the deal on 9 June 2026, when it signed a binding agreement to buy the whole company.
The IntelliSmart clearance was one of five deals the CCI approved on Saturday, spanning food services, renewable energy, power infrastructure, financial services and telecoms, and including deals involving Aditya Birla Renewables, Prosus and Vodafone Group.
Why it matters
Smart meters sit at the centre of India’s effort to modernise electricity distribution and cut the losses of power distributors. By replacing manual readings with meters that report use automatically, utilities can bill more accurately, spot theft and outages faster, and plan supply better. For Adani, the deal sharply expands its footprint: its combined smart-meter portfolio would rise to more than 4.7 crore contracted meters, according to Business News Today.
What happens next
The CCI’s approval is not the same as completion. The deal still has to satisfy its remaining closing conditions before ownership changes hands. The rollout itself will also need heavy spending: about ₹5,500 crore of capital expenditure remains for IntelliSmart’s metering programme, according to credit assessments cited by Business News Today.
Investors will be watching Adani Energy Solutions’ shares when markets reopen. They closed at ₹1,349.50 on Friday, 30 October, down 1.14 per cent on the day, according to Angel One.
This article is for general information and education only. It is not legal or financial advice.
Sources
- https://ianslive.in/cci-okays-adani-energy-solutions-rs-3050-crore-acquisition-of-intellismart-infrastructure–20261031143556 (IANS, 31 October 2026)
- https://www.nationpress.com/national/cci-clears-adanis-indian-rupee3050-cr-intellismart-buy (Nation Press, 31 October 2026)
- https://business-news-today.com/adani-energy-solutions-gets-cci-approval-for-rs-3050cr-intellismart-deal-but-rs-5500cr-rollout-bill-looms/ (Business News Today, 31 October 2026)
- https://www.angelone.in/news/stocks/adani-energy-solutions-share-price-in-focus-after-cci-approval-for-3-050-crore-intellismart-deal (Angel One, 31 October 2026)
- https://www.indianeconomicobserver.com/news/cci-clears-five-major-deals-across-food-energy-fintech-and-telecom-sectors20261031202509/ (Indian Economic Observer, 31 October 2026)
