Adani Defence Systems and Technologies Limited (ADSTL), a wholly owned subsidiary of Adani Enterprises, on Monday, said that it will acquire an 85.8 per cent stake in Air Works, India’s largest private-sector maintenance, repair, and overhaul (MRO) company, for an enterprise value of Rs 400 crore.
"Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works, India's largest private sector MRO company with the largest pan-India footprint," the conglomerate said in a statement.
Acquisition enhances Adani's capabilities in defence MRO sector
The acquisition will enhance Adani's capabilities in the defence MRO sector, solidifying its position in India's airborne defence ecosystem. This strategic move marks a pivotal step in Adani's growth trajectory, laying the foundation for its expansion into the civil aviation services domain.
"The Indian aviation industry stands at a transformative juncture, now the third-largest globally and on track to induct over 1,500 aircraft in the coming years," said Adani Airports Director Jeet Adani.
"This growth aligns seamlessly with the government's vision to connect every corner of our nation, creating unprecedented opportunities in aviation services. For us, creating a presence in the MRO sector is more than just a strategic step -- it's a commitment to building an integrated aviation services ecosystem that strengthens the backbone of India's aviation infrastructure. Together, we are excited to play a pivotal role in shaping the future of India's skies," he said.
Ashish Rajvanshi, CEO, Adani Defence & Aerospace said, "This landmark acquisition represents a pivotal step in Adani Defence & Aerospace's mission to strengthen India's MRO capabilities."
"Our vision is to deliver a full-spectrum MRO offering -- spanning line, base, component, and engine maintenance -- to meet the needs of both commercial and defence aviation sectors. At a time when Aatmanirbharta in defence is a national imperative, we stand fully committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector.
"This is our pledge to the nation -- to build capabilities that secure our skies and strengthen our sovereignty," he said.
Notably, Adani Defence & Aerospace, a part of the Adani Group, is into designing, development, and manufacturing of state-of-the-art defence products.
About Air Works
Air Works offers an end-to-end bouquet of aviation services spanning line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics as well as asset management services to its Indian and global customers. Operating across 35 cities with a team of over 1,300 professionals, Air Works specialises in servicing both fixed-wing and rotary-wing aircraft.
The company undertakes base maintenance for narrowbody and turboprop aircraft, as well as rotary aircraft from its facilities at Hosur, Mumbai, and Kochi and with regulatory approvals from civil aviation authorities of more than 20 countries.
In addition to being a market leader in civil aviation, Air Works has built significant capabilities in defence MRO, executing projects for key platforms of Indian Navy and Indian Air Force.
(With agencies input)
Also Read: Fixed Deposits for senior citizens: Public, private banks providing higher interest in December
Also Read: World Economic Forum in Davos: Check list of CMs, Union Ministers likely to attend event
Latest Business News
