Acquisitions23 Dec 2024, 08:46 pm
Adani Defence Systems to Acquire Air Works India for INR 400 Cr.
AI Summary
Adani Defence Systems and Technologies Limited (ADSTL), a wholly owned subsidiary of Adani Enterprises Ltd., has signed a Share Purchase Agreement (SPA) with Air Works India (Engineering) Pvt. Ltd (AWIEPL) and its existing shareholders to acquire 85.8% stake in AWIEPL for an Enterprise Value of INR 400 Cr. This acquisition enhances Adani's capabilities in the defence MRO sector and solidifies its position in India’s airborne defence ecosystem. This strategic move also marks a pivotal step in Adani’s growth trajectory, laying the foundation for its expansion into the civil aviation services domain.
Key Highlights
- Adani Defence Systems and Technologies Limited (ADSTL) to acquire 85.8% stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL) for INR 400 Cr.
- ADSTL will acquire the stake from AWIEPL and its existing shareholders.
- This acquisition enhances Adani's capabilities in the defence MRO sector and solidifies its position in India’s airborne defence ecosystem.
- This strategic move marks a pivotal step in Adani’s growth trajectory, laying the foundation for its expansion into the civil aviation services domain.
- Air Works India is the largest private-sector Maintenance, Repair, and Overhaul (MRO) company in India with operations spanning 35 cities and a workforce of over 1,300 personnel.