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Adani Defence buys Air Works stake for Rs 400 cr
The Business Guardian
|December 24, 2024
Adani Defence Systems and Technologies Limited (ADSTL), a wholly owned subsidiary of Adani Enterprises, has executed a Share Purchase Agreement (SPA) to acquire an 85.8 per cent stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL).
According to ADSTL, the transaction, signed on December 23, 2024, is valued at an enterprise value of Rs400 crore. This acquisition is a key step in Adani Defence's strategy to expand its presence in the growing maintenance, repair, and overhaul (MRO) sector.
The agreement was finalized between ADSTL, AWIEPL, and its existing shareholders, marking a transformative development for Adani's expansion into the MRO services for the aviation sector.
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