Adani Defence Acquires Majority Stake in Air Works India

Adani Defence Systems and Technologies Limited (ADSTL), a subsidiary of Adani Enterprises, has signed a Share Purchase Agreement (SPA) to acquire an 85.8% stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL). The transaction, valued at Rs 400 crore, marks a significant step for Adani Defence in expanding its presence in the maintenance, repair, and overhaul (MRO) sector.

The agreement was finalized on December 23, 2024, between ADSTL, AWIEPL, and its existing shareholders. Air Works India, a leader in civil and defence aircraft maintenance with over seven decades of experience, will now become a key part of Adani Defence's aerospace and defence portfolio.

This acquisition is expected to significantly enhance Adani's capabilities in the Indian and global aerospace markets, particularly given the rising demand for MRO services in India. The terms of the agreement include the acquisition of an 85.8% stake in AWIEPL at a cost of Rs 400 crore, complying with SEBI regulations.

The acquisition will provide ADSTL with enhanced control over AWIEPL, including the right to appoint directors and influence strategic decisions. This move reinforces Adani Group's commitment to the Make in India initiative and building indigenous capabilities in high-value sectors like aerospace and defence.