Latest news with #PrimeAero
Time of India
12-08-2025
- Business
- Time of India
Adani Enterprises shares in focus as Adani Defence & Aerospace to acquire 100% stake in Indamer Technics
Synopsis Adani Enterprises shares are set to be in focus as Adani Defence & Aerospace, in partnership with Prime Aero, is acquiring Indamer Technics Private Limited (ITPL), a prominent MRO company. This acquisition, executed through a joint venture, aims to bolster Adani's presence in the rapidly expanding Indian aviation sector. Analysts predict a potential upside of 39% for Adani Enterprises shares.
Time of India
11-08-2025
- Business
- Time of India
Adani Defence, Prime Aero form joint venture to acquire AAR Indamer MRO at Mihan
Nagpur: Adani Defence and Aerospace has formed a joint venture entity with Prime Aero, a company headed by NCP leader Praful Patel's son Prajay, to acquire AAR Indamer Technics Private Limited. Coincidentally, Prajay is also a director in AAR Indamer. Together, Adani Defence and Prajay's company Prime Aero Services LLP have formed a new entity, Horizon Aero Solutions Limited, to buy AAR Indamer now. AAR Indamer runs an aircraft maintenance, repair, and overhaul (MRO) depot in Mihan-SEZ in the city. Indamer started operations in 2021, emerging as the second MRO depot in the SEZ. The facility caters to Airbus aircraft. A couple of years ago, the company also announced plans to take up the overhaul of helicopters. Currently, it caters to Indigo Airlines, Vistara and Air India. A press release issued by Adani Group says, "Adani Defence and Aerospace, in partnership with Prime Aero, signed a binding agreement to acquire a 100% stake in Indamer Technics Private Limited. The investment is made through Horizon Aero Solutions Limited, a 50:50 venture between Adani Defence and Aerospace along with Prajay Patel-owned Prime Aero." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo Indamer's facility in Nagpur spans over 1.20 lakh square meters. Adani Group sees it as a strategic acquisition, expanding its business into the aircraft maintenance business. The facility has a capacity to accommodate 15 aircraft bays across 10 hangars. It has approvals from DGCA, FAA, and other global civil aviation regulators, the press release said. "With Indian aircraft carriers set to induct more than 1,500 aircraft, we are at the cusp of a new era of aviation. The acquisition is the next step towards the company's push to establish India as a premier global MRO destination. The plan is to create a single-point aviation services platform," said Jeet Adani, director of Adani Airports. Commenting on the development, Adani Defence and Aerospace CEO Ashish Rajvanshi said the acquisition further strengthens the company's capabilities in the MRO segment. Nagpur's location at the centre of the country also adds value by bolstering the MRO's pan-India footprint. "The collaboration brings together deep-rooted engineering excellence and growth capital," commented Prajay. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Economic Times
11-08-2025
- Business
- Economic Times
Adani Defence joins Prime Aero to buy Indamer Technics
Synopsis Adani Defence & Aerospace, in collaboration with Prime Aero, is set to acquire Indamer Technics Pvt Ltd (ITPL), an aircraft maintenance, repair, and overhaul (MRO) company, through their joint venture, Horizon Aero Solutions Ltd. This acquisition expands Adani Group's MRO network, aiming to establish India as a leading global MRO destination, leveraging ITPL's strategic location and certifications. Adani Defence & Aerospace, in partnership with Prime Aero, has agreed to wholly acquire Indamer Technics Pvt Ltd (ITPL), an aircraft maintenance, repair, and overhaul (MRO) company, deepening its presence in the fast-growing domestic aviation services details of the transaction were not deal will be executed through Horizon Aero Solutions Ltd, an equal joint venture between Adani Defence and Prime Aero, owned by Prajay acquisition further expands Adani Group's MRO network. Adani Defence & Aerospace last year acquired Air Works to become India's largest private MRO operator at a time when homegrown carriers are expected to induct over 1,500 aircraft in the next few years."The Indian aviation industry has witnessed an unprecedented acquisition is the next step in our push to establish India as a premier global MRO destination," said Jeet Adani, director, Adani Airports. According to Ashish Rajvanshi, CEO, ITPL's location at Nagpur in central India offers significant operational advantages and creates synergies with Air Works' up in 2018, ITPL operates a state-of-the-art greenfield facility in the MIHAN special economic zone in Nagpur. Spread over 30 acres, it features 15 aircraft bays across 10 hangars and is certified by India's DGCA, the US FAA, and other global regulators. The company's services include lease return checks, heavy C-checks, structural repairs, and aircraft painting for Indian and international airlines. Prajay Patel, director of Indamer Technics and Prime Aero, said the partnership combines engineering expertise with infrastructure and growth capital to create a "world-class MRO ecosystem" in India.
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Business Standard
11-08-2025
- Business
- Business Standard
Adani Defence to acquire 100% stake in Indamer Technics in MRO growth bid
Adani Defence & Aerospace on Monday announced that it has, in partnership with Prime Aero, signed a definitive agreement to acquire 100 per cent ownership of Indamer Technics Private Limited (ITPL), a private-sector Maintenance, Repair, and Overhaul (MRO) company. The investment will be made through Horizon Aero Solutions Limited, a 50-50 joint venture between Adani Defence & Aerospace and Prime Aero, which is owned by Prajay Patel, director of Indamer Technics, the company stated. ITPL operates a facility in Nagpur's MIHAN special economic zone, covering 120,000 square metres and housing 15 aircraft bays across 10 hangars, the company said, adding that ITPL is approved by India's Directorate General of Civil Aviation (DGCA), the United States Federal Aviation Administration (FAA), and other international regulators. It provides services including lease return checks, heavy C-checks, structural repairs, and aircraft painting for Indian and global clients, the statement added. MRO expansion drive This comes months after the Adani group acquired an 85.1 per cent stake in Air Works India, India's largest privately-owned aviation services and MRO company, in a ₹400 crore deal. The developments come as part of the company's plan to expand in the aircraft services and MRO segment. 'Following the addition of Air Works to our portfolio, this acquisition further strengthens our capabilities and footprint in the MRO segment and reinforces our position as the largest private-sector MRO player in the country," said Ashish Rajvanshi, chief executive officer (CEO) of Adani Defence & Aerospace. 'We are excited to partner with Adani Defence & Aerospace to take Indamer Technics to new heights. This collaboration brings together deep-rooted engineering excellence with robust infrastructure and growth capital," said Patel, director of Indamer Technics and Prime Aero.
