The Competition Commission of India (CCI) announced that it has approved the acquisition of the equity share capital of IntelliSmart Infrastructure Private Limited by Adani Energy Solutions Limited. According to the release, the proposed combination involves the acquisition of 100% of the target company’s equity share capital from the National Investment and Infrastructure Fund and Energy Efficiency Services Limited.
Adani Energy Solutions Limited is a publicly listed company involved in electricity transmission, distribution, and the deployment of advanced metering infrastructure in India. IntelliSmart Infrastructure Private Limited is also involved in advanced metering infrastructure for electricity and the deployment of smart gas meters in the country, as stated by the regulator.
What it means
- Adani Energy Solutions Limited will acquire 100% of the equity share capital of IntelliSmart Infrastructure Private Limited.
- The shares will be acquired from the National Investment and Infrastructure Fund and Energy Efficiency Services Limited.
Source
Press Information Bureau, Government of India, “CCI approves acquisition of the equity share capital of IntelliSmart Infrastructure (Target) by Adani Energy Solutions Ltd. (Acquirer)”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
Official RBI, SEBI, Government and Defence updates as they happen.
Leave a Reply