Gautam Adani's Rs 400 cr acquisition! Adani Enterprises BUYS majority stake in…

Billionaire Gautam Adani-led Adani Enterprises has announced the acquisition of a majority stake in Air Works, which has operations spanning 35 cities and a workforce of over 1,300 personnel. It brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft, the Adani Group flagship company said in an exchange filing.

Updated Dec 23, 2024 17:54 IST

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Article Highlights

Adani Enterprises has announced buying a majority stake in a private sector MRO company
Air Works has operations spanning 35 cities and a workforce of over 1,300 personnel
"This growth aligns seamlessly with the Government’s vision to connect every corner of our nation," said Jeet Adani

Billionaire Gautam Adani-led Adani Enterprises has acquired a majority stake in India’s largest private sector Maintenance, Repair, and Overhaul (MRO) company. With this transaction, worth a whopping Rs 400 crore, the conglomerate looks at enhancing its capabilities in the defence MRO sector.

Adani Enterprises on Monday announced that its wholly owned subsidiary Adani Defence Systems & Technologies has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works , India’s largest private sector MRO company with the largest pan-India footprint.

Adani Enterprises' Acquisition

Air Works has operations spanning 35 cities and a workforce of over 1,300 personnel. It brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft, the Adani Group flagship company said. "This strategic move marks a pivotal step in Adani’s growth," it added.

Adani Airports Director Jeet Adani said that the Indian aviation industry is now the third largest globally and on track to induct over 1,500 aircrafts in the coming years. "This growth aligns seamlessly with the Government’s vision to connect every corner of our nation, creating unprecedented opportunities in aviation services."

Adani Defence & Aerospace's vision 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, according to CEO Ashish Rajvanshi.

What Does Air Works Do?

The company in which Adani Enterprises has picked up a majority stake in offers an end-to-end bouquet of aviation services spanning line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics as well as asset management services to its Indian and global customers.

Air Works undertakes base maintenance for narrowbody and turboprop aircraft, as well as rotary aircraft from its facilities at Hosur, Mumbai and Kochi and with regulatory approvals from civil aviation authorities of more than 20 countries. It has also built significant capabilities in defence MRO.

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Gautam Adani's Rs 400 cr acquisition! Adani Enterprises BUYS majority stake in…

Adani Enterprises' Acquisition

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