Adani Enterprises Limited (AEL) has completed the acquisition of an 85.1 per cent stake in Air Works India (Engineering) Pvt Ltd (AWIEPL) through its wholly owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), the company announced in a stock exchange filing.
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Adani Enterprises Limited (AEL) has completed the acquisition of an 85.1 per cent stake in Air Works India (Engineering) Pvt Ltd (AWIEPL) through its wholly owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), the company announced in a stock exchange filing.
The all-cash transaction was valued at ₹400 crore for the 85.1 per cent stake in Air Works, with no equity exchanged. The acquisition is part of the Adani Group’s strategy to expand its business portfolio into the aircraft services and maintenance, repair, and overhaul (MRO) segment.
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Established in 1951, Air Works is India’s largest privately owned aviation services and MRO company, catering to original equipment manufacturers (OEMs), aircraft owners, lessors, and airlines, both domestic and international.
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The company is also active in the defence sector. In 2022, Air Works partnered with Boeing to perform maintenance checks on three P-8I long-range maritime patrol and anti-submarine warfare aircraft operated by the Indian Navy. The maintenance was carried out at its Hosur facility.
Air Works operates in 35 cities across India, with major maintenance centres in Hosur, Mumbai, and Kochi. It employs a skilled workforce of approximately 1,300 professionals.
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