Adani Enterprises’ Subsidiary Signs Deal to Acquire Majority Stake in Air Works

Adani Enterprises informed the stock exchanges that the company’s subsidiary, Adani Defence Systems & Technologies Ltd (ADSTL), has signed a share purchase agreement to acquire an 85.8% stake in Air Works, India’s largest private-sector Maintenance, Repair, and Overhaul (MRO) company.

Details of the Acquisition

Air Works boasts the largest pan-India footprint, offering comprehensive aviation services, including line maintenance, heavy checks, interior refurbishment, aircraft painting, avionics, redelivery checks, and asset management services. The company serves both Indian and global customers with regulatory approvals from civil aviation authorities of over 20 countries.

Air Works operates base maintenance facilities for narrow-body, turboprop, and rotary aircraft in Hosur, Mumbai, and Kochi. Beyond its leadership in civil aviation MRO, Air Works has established significant capabilities in defence MRO, executing key projects for platforms used by the Indian Navy and the Indian Air Force. This acquisition aligns with Adani’s vision to strengthen its footprint in the aviation and defence sectors while contributing to India’s Atmanirbhar Bharat initiative.

Commenting on this acquisition, the Director of Adani Airports, Mr Jeet Adani, said, “The Indian aviation industry stands at a transformative juncture, now the third largest globally and on track to induct over 1,500 aircraft in the coming years. This growth aligns seamlessly with the Government’s vision to connect every corner of our nation, creating unprecedented opportunities in aviation services. For us, creating a presence in the MRO sector is more than just a strategic step, it’s a commitment to building an integrated aviation services ecosystem that strengthens the backbone of India’s aviation infrastructure. Together, we are excited to play a pivotal role in shaping the future of India’s skies.”

Mr Ashish Rajvanshi, CEO of Adani Defence & Aerospace, stated, “This landmark acquisition represents a pivotal step in Adani Defence & Aerospace’s mission to strengthen India’s MRO capabilities.”

He further added, “Our vision is to deliver a full-spectrum MRO offering—spanning line, base, component, and engine maintenance—to meet the needs of both commercial and defence aviation sectors. In a time when Aatmanirbharta in defence is a national imperative, we stand fully committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector. This is our pledge to the nation, to build capabilities that secure our skies and strengthen our sovereignty.”

On December 24, 2024, Adani Enterprises share price opened at ₹2,355.20, up from its previous close of ₹2,338.95. At 10:30 AM, the share price of Adani Enterprises was trading at ₹2,389.00, up by 2.14% on the NSE.

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