Adani Defence & Aerospace announced on Monday that it has signed a binding agreement to acquire Air Works, India’s largest private-sector maintenance, repair, and overhaul (MRO) company, for an enterprise value of Rs 400 crore.

The Adani Group has reaffirmed its commitment to Bihar's development and announced investments in various sectors including infrastructure, smart metering and cement in addition to its investment in gas distribution,

Adani Defence Systems & Technologies Ltd. (ADSTL) has signed a share purchase agreement to acquire 85.8% shareholding in Air Works, India’s largest private sector MRO company with the largest pan-India footprint.

Adani Defence Systems & Technologies Ltd is acquiring an 85.8% stake in Air Works India for ₹400 crore, enhancing its presence in aviation. The acquisition aims to expand capabilities in civil and defence MRO services.

The acquisition by Adani Defence is seen as an effort to consolidate and expand its presence in both commercial and defence aviation sectors.

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,” said Jeet Adani, Director, Adani Airports in an official release here.

Air Works, which has a workforce of more than 1,300 personnel, handles MRO work for commercial as well as defence aircraft

Adani Defence has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works. Ashish Rajvanshi, CEO, Adani Defence & Aerospace, said, “This landmark acquisition represents a pivotal step in Adani Defence & Aerospace’s mission to strengthen India’s MRO capabilities.