Adani Enterprises Ltd.

Adani Enterprises’ wholly owned subsidiary -- Adani Defence Systems and Technologies (ADSTL) has signed a share purchase agreement to acquire 85.8% shareholding in Air Works, India’s largest private sector MRO company with the largest pan-India footprint.

Air Works 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. The company undertakes base maintenance for narrow-body 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. In addition to being a market leader in civil aviation, Air Works has built significant capabilities in defence MRO, executing projects for key platforms of Indian Navy and Indian Air Force. The cost of acquisition would be at enterprise value of Rs 400 crore. 

Adani Enterprises is the flagship company of Adani Group, one of India’s largest business organisations.