Adani Defence & Aerospace to purchase an 85.8% stake in Air Works for ₹400 crore.
Adani Enterprises Ltd’s subsidiary, Adani Defence Systems & Technologies, has signed an agreement to acquire an 85.8% stake in Air Works India, the country’s largest private-sector MRO company, valued at ₹400 crore.
On Monday, December 23, Adani Enterprises Ltd (AEL) announced that its fully owned subsidiary, Adani Defence Systems & Technologies Ltd (ADSTL), has signed a Share Purchase Agreement (SPA) to acquire an 85.8% stake in Air Works India (Engineering) Private Ltd. According to a regulatory filing, the agreement was executed on December 23, 2024, between ADSTL, Air Works India (Engineering) Pvt. Ltd (AWIEPL), and the existing shareholders of AWIEPL.
The transaction values Air Works, India’s largest private-sector Maintenance, Repair, and Overhaul (MRO) company, at an enterprise value of ₹400 crore. Air Works operates a wide network across India, offering services such as line maintenance, heavy checks, aircraft painting, interior refurbishment, avionics upgrades, and asset management. Its facilities in Hosur, Mumbai, and Kochi serve various aircraft types, including narrow-body and turboprop planes, as well as rotary-wing aircraft, with approvals from over 20 aviation authorities worldwide.
In addition to its leadership in civil aviation, Air Works has developed significant expertise in defence MRO, handling projects for the Indian Navy and Indian Air Force. Jeet Adani, Director at Adani Airports, stated, "This growth aligns perfectly with the Government's vision to connect every part of our nation, creating unparalleled opportunities in aviation services. For us, entering the MRO sector is not just a strategic move—it’s a commitment to building a comprehensive aviation services ecosystem that strengthens India’s aviation infrastructure."
Ashish Rajvanshi, CEO of Adani Defence & Aerospace, added, "Our goal is to provide a complete MRO solution—covering line, base, component, and engine maintenance—to cater to both commercial and defence aviation needs."
Shares of Adani Enterprises Ltd closed at ₹2,348.05, up by ₹3.15, or 0.13%, on the BSE.
We hate spam as much as you do
© Hindeez 2024, All Rights Reserved
