Bharat Electronics Limited (BEL), a Government of India enterprise under the Ministry of Defence, has announced the incorporation of a new joint venture with Israel Aerospace Industries (IAI). The joint venture, named BEL IAI AeroSystems Private Limited, was officially approved by the Ministry of Corporate Affairs on September 25, 2024.
The new company will focus on providing product support, including repair, maintenance, and related activities, for the Medium-Range Surface to Air Missile (MRSAM) system used in India. This joint venture marks a significant step towards enhancing India’s defence capabilities in collaboration with a global leader like Israel Aerospace Industries.
According to the disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, BEL IAI AeroSystems has an authorized share capital of ₹8.2 crore and a paid-up share capital of ₹4.1 crore. BEL holds a 40% stake in the new entity, with 1,64,000 shares allocated.
The incorporation of this entity does not constitute a related party transaction, and the promoter group of BEL has no vested interest in the joint venture, other than that which arises out of the operational scope of BEL itself.
This joint venture strengthens the Indo-Israeli defence collaboration, reinforcing both nations’ commitment to advancing technology-driven defence solutions. Further approvals have been obtained from the Ministry of Defence, India and Israel’s Committee of Ministries for Social & Economic Affairs, ensuring compliance with international and governmental regulations.
This new initiative aligns with BEL’s strategy to diversify its defence product portfolio and increase its operational presence in critical systems used by the Indian military.
