Adani Defence Systems and Technologies Limited (ADSTL), a wholly-owned subsidiary of Adani Enterprises, has signed an agreement to acquire an 85.8% stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL) for ₹400 crore. This acquisition will strengthen ADSTL’s presence in the aerospace and defence sector.
The deal outlines that ADSTL will hold a majority stake in AWIEPL, a leading provider of aviation maintenance and repair services. The acquisition cost is based on an enterprise value of ₹400 crore, with no existing shareholding by ADSTL in AWIEPL. This strategic move is aligned with Adani’s ongoing expansion in defence and aviation.
Key Details of the Acquisition
- Parties Involved:
- Adani Defence Systems and Technologies Limited (ADSTL): A wholly owned subsidiary of Adani Enterprises.
- Air Works India (Engineering) Pvt. Ltd (AWIEPL): A leading player in the Indian aerospace and aviation services sector.
- The transaction does not involve any shareholding from existing parties.
- Acquisition Cost:
The acquisition is valued at an Enterprise Value of ₹400 Crore. This deal allows ADSTL to acquire an 85.8% stake in AWIEPL, solidifying its influence in the aerospace maintenance and repair market.
TOPICS:
Adani enterprises