Latest news with #AirWorks
India.com
12 hours ago
- Business
- India.com
Another masterstroke by Gautam Adani in defence sector, acquires THIS 75-year-old aviation company for Rs..., the company is...
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.
United News of India
a day ago
- Business
- United News of India
Adani buys 85pc stake in Air Works for Rs 400 crore
Mumbai, July 2 (UNI) Adani Enterprises Limited (AEL) has completed the acquisition of an 85.1% stake in Air Works India (Engineering) Pvt Ltd (AWIEPL) through its wholly owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), the company officially announced in a stock exchange filing. The all-cash transaction was valued at Rs 400 crore for the 85.1% stake in Air Works, where no equity was exchanged. The acquisition is part of Adani Group's plans to expand its business portfolio into the aircraft services and maintenance, repair, and overhaul (MRO) segment. Air Works, which was established in 1951, is India's largest privately-owned aviation services and MRO company which caters to original equipment manufacturers (OEMs), aircraft owners, lessors, and airlines, both domestically and internationally. The company is also involved in defence sector maintenance. In 2022, Air Works entered into a partnership with Boeing to carry out maintenance checks on three P-8I long-range maritime patrol and anti-submarine warfare aircraft used by the Indian Navy. The maintenance was conducted at the Hosur facility. Air Works has a presence in 35 cities across India, with key maintenance centres located in Hosur, Mumbai, and Kochi, besides a skilled workforce of around 1,300 employees. UNI XC RN
India.com
a day ago
- Business
- India.com
Gautam Adani's another BIG move, signs Rs 4000000000 cash deal for…, acquires 85% stake in…
Gautam Adani- File image Adani Enterprises Limited (AEL) has successfully completed the acquisition of an 85.1% stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL) through its wholly owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), the company disclosed in a stock exchange filing. The deal was valued at Rs 400 crore, is an all-cash transaction with no equity exchange involved. The acquisition was originally announced on December 23, 2024. Adani Group Expansion Plan The Adani Group has been planning to expand in the aircraft services and maintenance, repair, and overhaul (MRO) segment. Gurugram based Air Works was established in 1951. It is India's largest privately-owned aviation services and MRO company. It operates in original equipment manufacturers (OEMs), aircraft owners, lessors, and airlines. The company also handles defence sector maintenance. In 2022, Air Works had partnered with Boeing to carry out maintenance checks on three P-8I long-range maritime patrol and anti-submarine warfare aircraft used by the Indian Navy. Air Works Operations Air Works is in 35 cities of India and maintenance centres are in Hosur, Mumbai, and Kochi. There are around 1300 employees with the company. Air Works had registered revenue of Rs 293 crore in FY 2021-22 and it increased to Rs 354 crore in FY 2022–23 with a year-on-year rise of 21 per cent. In FY 2023-24, the revenue was Rs 356 crore which was a marginal increase compared to the previous year, according to the exchange filing.
Economic Times
a day ago
- Business
- Economic Times
Adani Enterprises shares in focus after Adani Defence acquires 85% stake in MRO firm Air Works
Shares of Adani Enterprises are likely to be in focus on Wednesday after the company announced the completion of its acquisition of an 85.1% stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL). The acquisition was made through its wholly owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), for a total consideration of Rs 400 crore. ADVERTISEMENT The all-cash deal, initially announced on 23 December 2024, marks Adani Group's entry into the aircraft maintenance, repair, and overhaul (MRO) segment, as it looks to strengthen its presence in aviation services. Founded in 1951 and based in Gurugram, Air Works is India's largest privately-owned MRO company. It provides services to original equipment manufacturers (OEMs), aircraft owners, lessors, and commercial airlines, both in India and overseas. Air Works also operates in the defence sector. In 2022, the company partnered with Boeing to carry out maintenance checks on three P-8I maritime patrol and anti-submarine warfare aircraft used by the Indian Navy. These checks were performed at its facility in company has a presence in 35 cities across India, with major maintenance hubs in Hosur, Mumbai, and Kochi. It employs around 1,300 to the stock exchange filing, Air Works posted revenue of Rs 293 crore in FY22, which rose to Rs 354 crore in FY23 and slightly increased to Rs 356 crore in FY24. ADVERTISEMENT The acquisition underscores Adani Group's ongoing efforts to diversify its portfolio, with defence and aviation services emerging as new areas of strategic focus. ADVERTISEMENT According to Trendlyne, the average target price for Adani Enterprises stands at Rs 3,180, implying a 21% potential upside from current levels. The stock holds a 'Strong Buy' rating from 2 the previous session, Adani Enterprises shares closed 0.05% higher at Rs 2,620.2. While the stock has declined 18% in the past 12 months, it has gained 1,562% over the past five years. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
a day ago
- Business
- Time of India
Adani Enterprises shares in focus after Adani Defence acquires 85% stake in MRO firm Air Works
Shares of Adani Enterprises are likely to be in focus on Wednesday after the company announced the completion of its acquisition of an 85.1% stake in Air Works India (Engineering) Pvt. Ltd (AWIEPL). The acquisition was made through its wholly owned subsidiary, Adani Defence Systems and Technologies Limited (ADSTL), for a total consideration of Rs 400 crore. The all-cash deal, initially announced on 23 December 2024, marks Adani Group's entry into the aircraft maintenance, repair, and overhaul (MRO) segment, as it looks to strengthen its presence in aviation services . Founded in 1951 and based in Gurugram, Air Works is India's largest privately-owned MRO company. It provides services to original equipment manufacturers (OEMs), aircraft owners, lessors, and commercial airlines, both in India and overseas. Air Works also operates in the defence sector. In 2022, the company partnered with Boeing to carry out maintenance checks on three P-8I maritime patrol and anti-submarine warfare aircraft used by the Indian Navy. These checks were performed at its facility in Hosur. The company has a presence in 35 cities across India, with major maintenance hubs in Hosur, Mumbai, and Kochi. It employs around 1,300 people. Live Events According to the stock exchange filing, Air Works posted revenue of Rs 293 crore in FY22, which rose to Rs 354 crore in FY23 and slightly increased to Rs 356 crore in FY24. The acquisition underscores Adani Group's ongoing efforts to diversify its portfolio, with defence and aviation services emerging as new areas of strategic focus. Adani Enterprises shares price target According to Trendlyne, the average target price for Adani Enterprises stands at Rs 3,180, implying a 21% potential upside from current levels. The stock holds a 'Strong Buy' rating from 2 analysts. In the previous session, Adani Enterprises shares closed 0.05% higher at Rs 2,620.2. While the stock has declined 18% in the past 12 months, it has gained 1,562% over the past five years. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
