Adani Defence & Aerospace To Acquire Air works India (Engineering) For ₹400 Crore
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, announced on December 23, 2024, positions Air Works as a key player under the Adani umbrella, enhancing its capabilities in the Maintenance, Repair, and Overhaul (MRO) sector.
Air Works is 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.
Jeet Adani, Director at Adani Airports, emphasised that this acquisition is not merely a business expansion but also a commitment to building an integrated aviation services ecosystem that strengthens India's aviation infrastructure. The Indian aviation industry is currently the third largest globally and is expected to induct over 1,500 aircraft in the coming years, creating substantial opportunities for MRO services.
Ashish Rajvanshi, CEO of Adani Defence & Aerospace, highlighted that this acquisition would enable the company to offer comprehensive MRO services across both commercial and defence sectors, thereby enhancing its operational capabilities and contributing to national security.
This strategic move marks a pivotal moment for Adani Defence & Aerospace as it seeks to integrate Air Works' expertise into its broader strategy of developing a robust aerospace and defence portfolio in India.
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