Adani Enterprises’ arm to acquire additional 14.2% stake in Air Works
Post completion of acquisition under SPA, the stake of ADSTL in Air Works will increase to 99.98%
Adani Enterprises’ wholly owned subsidiary -- Adani Defence Systems & Technologies (ADSTL) has executed a Share Purchase Agreement (SPA) with Punj Lloyd Aviation (PLAL) to acquire additional 14.2% stake in Air Works India (Engineering) (Air Works). ADSTL already holds 85.76% in Air Works. Post completion of acquisition under SPA, the stake of ADSTL in Air Works will increase to 99.98%.
Adani Enterprises, the flagship company of the Adani Group, is one of India’s largest business organisations. The company has enhanced value for stakeholders by building prominent infrastructure assets and widening its presence across a range of sectors directed towards responsible nation-building.
