New Delhi: Adani Defence Systems & Technologies Ltd (ADSTL), a subsidiary of the Adani Group, has made a significant move in the aviation sector by signing a share purchase agreement to acquire an 85.8% stake in Air Works India (Engineering) Pvt. Ltd for an enterprise value of ₹400 crore.
This acquisition positions Air Works as a key player under the Adani umbrella, enhancing its capabilities in the Maintenance, Repair, and Overhaul (MRO) sector.
Air Work recognized as India’s largest private-sector MRO provider with operations across 35 cities and a workforce exceeding 1,300 employees. The company specializes in servicing both fixed-wing and rotary-wing aircraft and is equipped with regulatory approvals from civil aviation authorities in over 20 countries.
The acquisition is seen as a strategic step for Adani Defence to bolster its presence in both commercial and defence aviation sectors. Air Works has established significant capabilities in defence MRO, executing critical projects for the Indian Navy and Indian Air Force, which aligns with India’s push for self-reliance in defence capabilities under the Aatmanirbhar Bharat initiative.