Another masterstroke by Gautam Adani in defence sector, acquires THIS 75-year-old aviation company for Rs..., the company is...
The stock market was expected to open flat on July 2, although the GIFT Nifty was trading 31 points higher in early signs. But one stock from the Adani Group saw some strong movement. That is because Adani Enterprises Limited has completed the purchase of 85.1 per cent stake in Air Works India (Engineering) Private Limited (AWIEPL) through its subsidiary, Adani Defence Systems and Technologies Limited.
The company shared this update with the stock exchange on the evening of July 1. The Adani Group bought the stake for Rs. 400 crore. This deal was originally announced on December 23, 2024. Adani expands further into defence sector
With this acquisition, the Adani Group is looking to grow its business in the defence sector. Air Works India is involved in aircraft services like maintenance, repair, and overhaul (MRO), and Adani plans to expand its presence in this area through the deal.
Adani Enterprises' share had closed at Rs. 2621 on July 1. What Adani defence & aerospace does
Adani Defence & Aerospace is a part of the Adani Group. This company makes drones, anti-submarine warfare systems, and other aerospace-related equipment.
To expand its defence business, the Adani Group has also teamed up with a US-based company called Sparton to build anti-submarine warfare (ASW) systems for the Indian Navy. The story of air works
Air Works, based in Gurugram, is a 74-year-old company that was started in 1951. It is India's largest privately owned aviation services and MRO (Maintenance, Repair, and Overhaul) company.
Air Works provides aviation services to both Indian and international airlines. It also handles maintenance work for the defence sector, making it an important player in the aerospace industry.
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