Adani Defence Systems To Obtain 85% Stake In Air Works India For Rs 400 Crore

Adani Defence Systems and Technologies Ltd. will acquire an 85.8% stake in Air Works India (Engineering) Pvt., according to a share purchase agreement that was executed on Monday.

Adani Defence Systems is a wholly owned subsidiary of Adani Enterprises Ltd., which intimated the National Stock Exchange and the BSE of this transaction through an exchange filing.

"For us, creating a presence in the maintenance, repair and overhaul 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," Jeet Adani, director of Adani Airports, said.

This transaction does not fall under related-party transactions. Air Works India is one of the country's largest MRO companies in the private sector.

"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," Ashish Rajvanshi, chief executive officer of Adani Defence & Aerospace, said. "In a time when atma nirbharta 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."