India, June 10 -- Adani Energy Solutions Limited (AESL), one of India's leading private power transmission companies, has signed a binding securities purchase and subscription agreement to acquire a 100% equity stake in IntelliSmart Infrastructure Private Limited, a smart metering joint venture between the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL).

The proposed acquisition will further strengthen AESL's position as India's largest smart metering platform, taking its total smart meter portfolio to more than 4.7 crore meters.

Valued at approximately Rs.3,050 crore, the transaction includes the acquisition of 100% of IntelliSmart's equity share capital as well as the redemption of opti...