Adani Enterprises’ arm Adani Global Limited on Friday announced that it had completed the acquisition of a 49% stake in Adani Esyasoft Smart Solutions.
The conglomerate’s intimation comes in connection with an ealier announcement, on April 12, when the deal was executed.
“We would like to inform you that Adani Global Limited, Mauritius, a wholly owned subsidiary of the Company has completed the acquisition of 49% stake of Adani Esyasoft Smart Solutions Limited, Abu Dhabi from Esyasoft Holding Limited, UAE on 26th April, 2024,” the company said in an exchange filing.
Earlier reports said that the deal aims to pave the way for the development of smart solutions such as smart metering software, load forecasting, revenue maximisation, and other efficiency-based software products and solutions for utilities, both in India and globally.
The agreement between these companies will see Adani and Esyasoft Holding have 49% and 51% shareholding, respectively, in Adani Esyasoft Smart Solutions Ltd.