Adani Enterprises Limited (AEL) has completed the acquisition of an 85.1 per cent stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL) through its wholly owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), the ports-to-mining conglomerate announced in a stock exchange filing.
The transaction was valued at ₹400 crore for the 85.1 per cent equity in AWIEPL. It is an all cash deal, and no equity has been exchanged. The acquisition was initially announced on 23 December 2024.
The acquisition is part of Adani Group’s plans to expand in the aircraft services and maintenance, repair, and overhaul (MRO) segment.
Adani Defence & Aerospace on Monday announced that it has, in partnership with Prime Aero, signed a definitive agreement to acquire 100 per cent ownership of Indamer Technics Private Limited (ITPL), a private-sector Maintenance, Repair, and Overhaul (MRO) company.
The investment will be made through Horizon Aero Solutions Limited, a 50-50 joint venture between Adani Defence & Aerospace and Prime Aero, which is owned by Prajay Patel, director of Indamer Technics, the company stated.
ITPL operates a facility in Nagpur’s MIHAN special economic zone, covering 120,000 square metres and housing 15 aircraft bays across 10 hangars, the company said, adding that ITPL is approved by India’s Directorate General of Civil Aviation (DGCA), the United States Federal Aviation Administration (FAA), and other international regulators.
It provides services including lease return checks, heavy C-checks, structural repairs, and aircraft painting for Indian and global clients, the statement added.
The company, however, did not disclose the amount at which the deal is proposed to be executed.
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 "Adani group acquires 85% stake in MRO firm Air Works for ₹400 crore")
