Adani group to amass 85.8 per cent stake in Air Works for enterprise worth of Rs 400 crore – India TV
Adani Defence Programs and Applied sciences Restricted (ADSTL), an entirely owned subsidiary of Adani Enterprises, on Monday, mentioned that it’ll purchase an 85.8 per cent stake in Air Works, India’s largest private-sector upkeep, restore, and overhaul (MRO) firm, for an enterprise worth of Rs 400 crore.
“Adani Defence Programs & Applied sciences Ltd (ADSTL) has signed a share buy settlement to amass 85.8 per cent shareholding in Air Works, India’s largest non-public sector MRO firm with the most important pan-India footprint,” the conglomerate mentioned in an announcement.
Acquisition enhances Adani’s capabilities in defence MRO sector
The acquisition will improve Adani’s capabilities within the defence MRO sector, solidifying its place in India’s airborne defence ecosystem. This strategic transfer marks a pivotal step in Adani’s development trajectory, laying the inspiration for its growth into the civil aviation providers area.
“The Indian aviation trade stands at a transformative juncture, now the third-largest globally and on observe to induct over 1,500 plane within the coming years,” mentioned Adani Airports Director Jeet Adani.
“This development aligns seamlessly with the federal government’s imaginative and prescient to attach each nook of our nation, creating unprecedented alternatives in aviation providers. For us, making a presence within the MRO sector is greater than only a strategic step — it is a dedication to constructing an built-in aviation providers ecosystem that strengthens the spine of India’s aviation infrastructure. Collectively, we’re excited to play a pivotal function in shaping the way forward for India’s skies,” he mentioned.
Ashish Rajvanshi, CEO, Adani Defence & Aerospace mentioned, “This landmark acquisition represents a pivotal step in Adani Defence & Aerospace’s mission to strengthen India’s MRO capabilities.”
“Our imaginative and prescient is to ship a full-spectrum MRO providing — spanning line, base, part, and engine upkeep — to fulfill the wants of each business and defence aviation sectors. At a time when Aatmanirbharta in defence is a nationwide crucial, we stand totally dedicated to scaling home capabilities to serve each our armed forces and the broader aviation sector.
“That is our pledge to the nation — to construct capabilities that safe our skies and strengthen our sovereignty,” he mentioned.
Notably, Adani Defence & Aerospace, part of the Adani Group, is into designing, growth, and manufacturing of state-of-the-art defence merchandise.
About Air Works
Air Works gives an end-to-end bouquet of aviation providers spanning line upkeep, heavy checks, inside refurbishment, portray, redelivery checks, avionics in addition to asset administration providers to its Indian and world clients. Working throughout 35 cities with a crew of over 1,300 professionals, Air Works specialises in servicing each fixed-wing and rotary-wing plane.
The corporate undertakes base upkeep for narrowbody and turboprop plane, in addition to rotary plane from its services at Hosur, Mumbai, and Kochi and with regulatory approvals from civil aviation authorities of greater than 20 international locations.
Along with being a market chief in civil aviation, Air Works has constructed vital capabilities in defence MRO, executing tasks for key platforms of Indian Navy and Indian Air Drive.
(With companies enter)
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