From The Economic Times · Twesh Mishra · · 1m 10s
CCI seeks more info on Adani Energy's IntelliSmart deal
CCI asks Adani Energy for more details on ₹3,050-crore smart meter deal.
In brief
CCI asks Adani Energy for more details on ₹3,050-crore smart meter deal. The Competition Commission of India requested additional information from Adani Energy Solutions regarding its proposed acquisition of IntelliSmart Infrastructure for ₹3,050 crore to become India's largest smart metering platform. Originally…
Regulator seeks details
The Competition Commission of India has asked Adani Energy Solutions for more information on its proposed ₹3,050-crore acquisition of IntelliSmart Infrastructure.
Deal status update
The regulator listed the combination as 'information incomplete' two months after the parties filed their notice on July 27.
Adani's smart meter target
Adani Energy Solutions claims it will become India's largest smart metering platform with over 47 million meters.
IntelliSmart's market position
IntelliSmart, a joint venture between NIIF and EESL, has over 22 million meters across five states.
Acquisition timeline
Adani signed an agreement on June 9 to acquire IntelliSmart, with completion expected within 180 days after antitrust approval.
Market overlaps identified
The deal shows horizontal overlaps in electricity AMI deployment and vertical overlaps in piped natural gas metering.
The one thing
The Competition Commission of India requested additional information from Adani Energy Solutions regarding its proposed acquisition of IntelliSmart Infrastructure for ₹3,050 crore to become India's largest smart metering platform.
