Adani Enterprises Limited announced that its wholly-owned subsidiary, Adani Defence Systems & Technologies Ltd (ADSTL), has executed a Share Purchase Agreement (SPA) on March 1, 2026, to acquire a 14.2% stake in Air Works India (Engineering) Private Ltd (Air Works) from Punj Lloyd Aviation Ltd (PLAL). ADSTL currently holds an 85.76% stake in Air Works. Following the completion of this acquisition under the SPA, ADSTL's shareholding in Air Works will increase to 99.98%. The company received this information on March 1, 2026. The agreement details specify that ADSTL will acquire the 14.2% shareholding from PLAL. ADSTL is a wholly-owned subsidiary of Adani Enterprises, and Air Works is a subsidiary of ADSTL. The transaction is not considered a related party transaction and will be conducted at arm's length.
