M&A
Adani Total Gas acquires 50% stake in gas meter maker Smartmeters
Adani Total Gas Ltd - the city gas joint venture of Adani Group and TotalEnergies of France - has acquired a 50% stake in Ahmedabad-based Smartmeters Technologies Pvt Ltd (SMTPL) for INR 1 crore. Smartmeters manufactures gas meters which are used to measure consumption of gas piped into household kitchens. The objective of the acquisition is to manufacture gas meters with a focus on prepaid smart meters. The acquisition is expected to be completed by September. Adani Total Gas retails CNG to automobiles and piped natural gas to household kitchens and industries.
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