Acquisitions1 Mar 2026, 03:01 pm
Adani Enterprises Subsidiary to Acquire 14.2% Stake in Air Works
AI Summary
Adani Defence Systems & Technologies Ltd (ADSTL), a wholly owned subsidiary of Adani Enterprises Ltd, has signed a Share Purchase Agreement (SPA) with Punj Lloyd Aviation Ltd (PLAL) to acquire a 14.2% stake in Air Works India (Engineering) Private Ltd. Post completion of the acquisition, ADSTL's stake in Air Works will increase to 99.98%. The acquisition is expected to give ADSTL special rights such as the right to appoint directors, first right to share subscription in case of issuance of shares, and the right to restrict any change in capital structure.
Key Highlights
- Adani Defence Systems & Technologies Ltd (ADSTL) to acquire 14.2% stake in Air Works
- ADSTL already holds 85.76% in Air Works, post acquisition stake will increase to 99.98%
- Acquisition expected to give ADSTL special rights like right to appoint directors, first right to share subscription, right to restrict any change in capital structure
- ADSTL is a wholly owned subsidiary of Adani Enterprises Ltd and Air Works is a subsidiary of ADSTL
- Transaction does not fall within related party transactions