Adani Total Gas Ltd., a Joint venture of Adani Group and Total Energies of France, has acquired a 50% stake in Ahmedabad based Smartmeters Technologies Pvt. Ltd. (SMTPL) for ₹ 1 Crore. The acquisition is expected to be completed by September 2021.
Smartmeters Technologies is an Indian manufacturer of Gas Meters, whereas Adani Total Gas retails CNG to automobiles and piped Natural Gas to household kitchens and industries. Thus this acquisition is a great fit for Adani Total Gas in gas distribution.