Adani Enterprises’ wholly owned subsidiary -- Adani Defence Systems & Technologies (ADSTL) has completed the acquisition of 14.2% effective shareholding in Air Works India (Engineering) (Air Works) in accordance with the terms of the Share Purchase Agreement (SPA). ADSTL already holds 85.76% in Air Works and this acquisition has increased the stake of ADSTL in Air Works to 99.98%.
The objective is to expand company’s footprint in the Aircraft Services & MRO industry. The cost of acquisition is at an enterprise value of Rs 400 crore.
Earlier, ADSTL had executed SPA with Punj Lloyd Aviation (PLAL) for acquisition of 14.2% effective shareholding in Air Works.
Adani Enterprises, the flagship company of the Adani Group, is one of India’s largest business organisations. The company has enhanced value for stakeholders by building prominent infrastructure assets and widening its presence across a range of sectors directed towards responsible nation-building.
| Company Name | CMP |
|---|---|
| Redington | 234.90 |
| Adani Enterprises | 2218.35 |
| Amrapali Industries | 17.53 |
| Rashi Peripheral | 455.25 |
| PDS | 301.45 |
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