A big news related to Adani Group is coming out. In fact, Adani Defense and Aerospace, a subsidiary of Adani Enterprises, has entered into an agreement to buy 85.8% stake in Air Works, India’s largest private sector maintenance, repair and overhaul (MRO) company. This agreement was signed on 23 December 2024.
Deal worth Rs 400 crore
The total price of this acquisition has been fixed at Rs 400 crore. Adani Defense Systems and Technologies Limited (ADSTL) signed a share purchase agreement with Air Works India (Engineering) Private Limited (AWIEPL) and its existing shareholders. The company gave this information in Bombay Stock Exchange (BSE).
Adani’s strategic thinking
Adani Airports Director Jeet Adani told the media on this. , "Our presence in the MRO sector is not just a strategic move, but it is a commitment towards strengthening India’s aviation infrastructure." He also informed that more than 1,500 aircraft are expected to be delivered in India in the coming years.
The company aims to create a comprehensive MRO service system, spanning lines, for both commercial and defense sectors. To meet base, component and engine maintenance needs.
What Air Works does
Air Works provides a wide range of aviation services to its Indian and global clients. provides services Is. These include line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics and asset management services. Air Works has a strong team of 1,300 employees and has expertise in servicing both fixed-wing and rotary-wing aircraft.
While talking about Adani Defense and Aerospace, it is India’s Designs, develops and manufactures defense products in India. The company has created a strong ecosystem for startups and MSMEs by adopting an export approach.
What will be the benefit to the company from the acquisition
After this acquisition Through this, Adani Defense and Aerospace will strengthen its hold in India’s aviation sector and create new opportunities for aviation services. This step will further increase Adani’s strong hold in the Indian aviation industry. Let us tell you, in Monday’s trading session, shares of Adani Enterprises closed with a decline of 0.13% at Rs 2,341.95.
Be the first to read breaking news in Hindi aajsamacharindia.com| Today’s latest news, live news updates, read most reliable Hindi news website aajsamacharindia.com|
Like us on Facebook or follow us on Twitter for breaking news and live news updates.
