CCI Clears Adani Energy's ₹3,050 Crore IntelliSmart Acquisition
What Happened
The Competition Commission of India (CCI) approved Adani Energy Solutions' proposed ₹3,050 crore acquisition of IntelliSmart Infrastructure on October 30, 2026. The deal involves purchasing 100% of IntelliSmart's equity from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL), alongside the redemption of optionally convertible debentures held by NIIF.
Key Takeaways
The approval removes a major regulatory hurdle for the acquisition. Adani Energy says the combined business would have a smart-meter portfolio exceeding 4.7 crore meters, although the transaction's completion remains subject to closing requirements.