Adani Enterprises Limited has completed the acquisition of an 85.1% stake in Air Works India (Engineering) Pvt Ltd. The stake was acquired through its wholly owned subsidiary, Adani Defence Systems and Technologies Ltd. The transaction is valued at ₹400 crore.
The deal was executed as an all-cash transaction. No equity shares were exchanged as part of the agreement. The acquisition was initially announced on December 23, 2024, and has now been closed.
Air Works India was founded in 1951 and is headquartered in Gurugram. It is one of the oldest aviation MRO (maintenance, repair, and overhaul) companies in the country. The company handles both civil and defence aircraft services.
Air Works has operations in 35 Indian cities. It runs key maintenance centres in Hosur, Mumbai, and Kochi. The company has a workforce of around 1,300 employees.
In 2022, Air Works conducted maintenance checks on 3 Indian Navy P-8I aircraft. The project was done in partnership with Boeing and took place at the Hosur facility. The company has continued to serve both government and private clients.
For FY 2021–22, the company recorded revenue of ₹293 crore. This rose to ₹354 crore in FY 2022-23. In FY 2023-24, revenue slightly increased to ₹356 crore, as per the company’s filings.
Read More: Adani Enterprises to Raise ₹10 Billion via 2–5 Year Public Bond Sale Next Week!
The acquisition is part of Adani Group’s expansion into aviation services. It adds aircraft servicing and MRO capabilities under Adani Defence. The company has not disclosed any integration plans yet.
As of 10:03 AM on July 2, 2025, Adani Enterprises share price was at ₹2,624, a 0.08% increase. The stock is up 1.09% over the past 6 months and down 16.72% over the past year.
With this acquisition, Adani Defence gains majority control of a large private MRO player. Air Works continues to operate with a network spanning multiple cities and clients across aviation and defence segments.
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Published on: Jul 2, 2025, 10:08 AM IST
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