Cyril Amarchand Mangaldas, TT&A, JSA act on Adani's ₹3,050 crore acquisition of IntelliSmart

Adani Energy Solutions Limited has acquired 100% equity share capital in IntelliSmart Infrastructure Private Limited for ₹3,050 crore.

Cyril Amarchand Mangaldas advised Adani Energy Solutions on this acquisition.

The transaction team was led by Subhalakshmi Naskar (Partner, Co-Head - Projects (Infrastructure)) and Ayushi Toshniwal (Partner).

Ayushi Toshniwal, Rohil Deshpande (Senior Associate), and Yashasvi Raj (Associate) conducted due diligence.

Avaantika Kakkar (Partner, Head - Competition) and Dhruv Rajain (Partner), with support from Rajat Sharma (Principal Associate) and Ananya Mahant (Senior Associate), advised on Competition law aspects.

TT&A advised IntelliSmart on this transaction.

The transaction team consisted of Gautam Saha (Partner), Punita Gupta (Partner), Prerna Raturi (Senior Associate), and Sangita Sharma (Associate).

Kush Saggi (Managing Associate), Prerna Raturi, Sajjan Singh Chouhan (Senior Associate), and Megha Rana (Associate) conducted due diligence.

Sonam Mathur (Partner), Shubhang Joshi (Managing Associate), Samriddha Gooptu (Senior Associate), and Srivaishnavi R. (Associate) advised on Competition law aspects.

JSA Advocates & Solicitors advised Energy Efficiency Services Limited on the sale of its equity stake in IntelliSmart to Adani Energy Solutions.

The transaction team was led by Vishnu Sudarsan (Partner) with support from Sugandha Somani Gopal (Partner), Asmita Maan (Senior Associate) and Vihaan Pathak (Associate).

IntelliSmart is one of India's leading owners and operators of smart meter assets and among the top three players in the smart metering segment, with a portfolio of over 2.2 crore meters deployed across Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam. A joint venture of the National Investment and Infrastructure Fund and Energy Efficiency Services Limited, the Company focuses on leveraging advanced metering infrastructure, consumer data management, and AI/ML-based analysis to offer smart solutions for power and gas utilities across India.

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