New Delhi, June 9 -- Adani Energy Solutions on Tuesday announced the acquisition of a 100% equity stake in IntelliSmart Infrastructure Private Limited, a smart metering joint venture between National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL), for Rs.3,050 crore.

The proposed Rs.3,050 crore transaction includes acquisition of the 100% of the equity share capital of IntelliSmart and redemption of the optionally convertible debentures of IntelliSmart held by NIIF. The transaction closing is subject to regulatory and other customary approvals.

The acquisition will strengthen Adani Energy Solutions' position as India's largest smart metering platform with over 4.7+ crore smart meters, the company...