Reliance Infra shares hit 5% upper circuit after Dassault jet deal; First Falcon 2000 delivery in 2028
Reliance Infrastructure
surged 5% to hit the upper circuit at Rs 386 on the BSE on Wednesday after the company announced a major aviation partnership. Its subsidiary,
Reliance Aerostructure Limited
, has joined hands with French aerospace giant Dassault Aviation to manufacture Falcon 2000 business jets in India.
This marks the first time Dassault will assemble its Falcon aircraft outside France. With this move, India joins an exclusive group of countries—including the United States, France, Canada, and Brazil—that produce business jets for global markets.
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The first 'Made in India' Falcon 2000 is expected to take flight by 2028, catering to both corporate and military segments.
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The announcement was made at the Paris Air Show and includes plans to establish a final assembly line at Dassault Reliance Aerospace Limited (DRAL) in Nagpur, Maharashtra. This facility will serve as a global centre of excellence for the Falcon series and is expected to support future assembly programs for the Falcon 6X and 8X as well.
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Anil D. Ambani, Founder Chairman, Reliance Group and Eric Trappier, Chairman and CEO, Dassault Aviation both reiterated the new agreement shows the French giant's intent to meet its 'Make in India' commitments. "This collaboration is a powerful expression of our commitment to Prime Minister Shri Narendra Modi's vision of 'Atmanirbhar Bharat' and 'Make in India for the World',' Ambani added.
'It marks the ramp-up of DRAL, in line with the strategic vision shared with our partner Reliance,' said Trappier.
The partnership includes the transfer of key production processes to DRAL, such as assembly of the Falcon 2000 fuselage, wings, and front section, along with front fuselage work for the Falcon 8X and Falcon 6X. Dassault also plans facility upgrades to support these advanced assembly lines.
DRAL, a joint venture formed in 2017, has already delivered over 100 major Falcon 2000 sub-sections from its Mihan facility in Nagpur. The new assembly line will significantly scale up its capabilities and require the recruitment of several hundred engineers and technicians over the next decade.
Just last week, Reliance Defence, another subsidiary of Reliance Infrastructure, had inked a Rs 10,000 crore agreement with Germany's Diehl Defence. The partnership will focus on the local production of the Vulcano 155mm precision-guided munition system—an advanced artillery shell designed for long-range, high-accuracy strikes.
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In a separate development, Reliance Infrastructure also announced the allotment of 1.25 crore fully paid-up equity shares at Rs 240 per share, amounting to Rs 300 crore. This includes a premium of Rs 230 per share and is part of an accelerated warrant conversion process.
The capital was raised by exercising warrants, with the remaining 75% of the issue price now fully paid. This is part of a preferential issue of 12.56 crore warrants worth Rs 3,014.40 crore announced in October 2024, under SEBI (ICDR) Regulations.
The company stated that 1.25 crore shares have been issued to Risee Infinity Private Limited, a promoter group entity.
The capital infusion is expected to enhance the company's financial flexibility and support its long-term growth plans. Reliance Infrastructure said the fresh funds will enable it to capitalise on emerging opportunities and drive sustained value creation.
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