Adani Enterprises Subsidiary Increases Stake in Air Works to 99.98%
Adani Defence Systems & Technologies Ltd (ADSTL), a subsidiary of Adani Enterprises, increased its stake in Air Works India (Engineering) Pvt Ltd to 99.98% by acquiring an additional 14.2%. The acquisition was completed based on an enterprise value of ₹400 crore.
The acquisition of a significant stake in Air Works enhances Adani Enterprises' position in the aviation MRO industry, which could lead to future growth and synergies.
The acquisition increases the company's stake in a strategic subsidiary, expanding its presence in the aviation MRO sector, which is a positive development.
Adani Defence Systems & Technologies Ltd (ADSTL), a wholly owned subsidiary of Adani Enterprises Limited, has successfully completed the acquisition of an additional 14.2% effective shareholding in Air Works India (Engineering) Private Ltd (Air Works).
This acquisition, executed under the terms of a Share Purchase Agreement (SPA), increases ADSTL's stake in Air Works from 85.76% to 99.98%. The transaction was completed with a cash consideration based on an enterprise value of ₹400 crore, subject to closing adjustments.
Air Works is engaged in the Maintenance, Repair, and Overhaul (MRO) of aircraft and is India's largest privately-owned aviation services and MRO company, established in 1951. For FY 2024-25, Air Works reported a turnover of ₹571 crore. This move aims to expand the company's footprint in the Aircraft Services & MRO industry. The acquisition does not fall under related party transactions.
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Adani Enterprises Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Adani Enterprises Limited. Read the original for the full detail.