Adani Group Acquisition Update: Company Announces Rs 400 Crore Stake Purchase - Details

Adani Defence & Aerospace (ADSTL) has signed a binding agreement to acquire an 85.8 per cent stake in Air Works India (Engineering) Pvt. Ltd., India’s largest private-sector Maintenance, Repair, and Overhaul (MRO) company, for an enterprise value of Rs 400 Crore. The deal marks a significant move in Adani’s strategic expansion in India’s aviation and defence sectors.

Air Works, with over 1,300 professionals and operations spanning 35 cities, is a market leader in providing comprehensive aviation services, including line maintenance, heavy checks, avionics, interior refurbishment, and asset management. The company serves both Indian and global customers, maintaining a strong presence in the civil aviation sector while also offering substantial capabilities in defence MRO. It has secured regulatory approvals from over 20 countries and has executed projects for the Indian Navy and Air Force.

“This acquisition represents a pivotal step in Adani Defence & Aerospace's mission to strengthen India’s MRO capabilities,” said Ashish Rajvanshi, CEO of Adani Defence & Aerospace. “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 are committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector.”

Jeet Adani, Director of Adani Airports, highlighted the broader significance of the acquisition: “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 for aviation services. 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.”