Adani Defence Systems and Technologies Limited (ADSTL), through its venture Horizon Aero Solutions Limited, in partnership with Prime Aero Services LLP, has signed a definitive agreement to acquire a 100% stake in Indamer Technics Private Limited (ITPL), India's pioneering private-sector MRO provider. Horizon is a 50-50 partnership between ADSTL and Prime Aero, a company owned by Prajay Patel, the director of Indamer Technics.
Strategically located at Nagpur in the MIHAN special economic zone (SEZ), ITPL has set up a stateof-the-art greenfield facility on the 30-acre site. The facility has the capacity to accommodate 15 aircraft bays across 10 hangars. ITPL is approved by DGCA, FAA (USA) and other global civil aviation regulators. The company offers a comprehensive suite of MRO services, including Lease Return Checks, Heavy C-Checks, Structural Repairs, and Aircraft Painting to leading Indian and global customers.
"The Indian aviation industry has witnessed an unprecedented transformation, becoming the 3rd largest in terms of passenger traffic. With the Indian carriers set to induct more than 1500 aircraft in the coming years, we are on the cusp of a new era in aviation" said Mr. Jeet Adani, Director, Adani Airports. "This acquisition is the next step in our push to establish India as a premier global MRO destination. It also reinforces our commitment to building an integrated aviation services ecosystem that strengthens India's aviation infrastructure. Our goal is to create a single-point aviation services platform that is driven by world-class quality standards and customer satisfaction. As we have stated before, we are determined to play a pivotal role in shaping the future of India's skies."
"This acquisition marks another critical milestone in fulfilling Adani Defence & Aerospace's vision to deliver a full-spectrum MRO offering to meet the needs of both commercial and defence aviation sectors," said Mr. Ashish Rajvanshi, CEO, Adani Defence & Aerospace. "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. The strategic location of Nagpur, at the center of the country, adds immense value to our operations by bolstering our pan-India footprint and providing us substantial capacity to scale up our business. Together with Air Works, this acquisition unlocks significant synergies between the two companies, creating enhanced value for our stakeholders through integrated solutions and operational excellence."
"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 Mr. Prajay Patel, Director of Indamer Technics and Prime Aero. "Our shared vision is to build a world-class MRO ecosystem out of India, delivering exceptional value to customers and stakeholders globally."
Shares of Adani Enterprises Limited was last trading in BSE at Rs. 2283.30 as compared to the previous close of Rs. 2178.05. The total number of shares traded during the day was 208017 in over 9105 trades.
The stock hit an intraday high of Rs. 2301.10 and intraday low of 2183.05. The net turnover during the day was Rs. 472451425.00. |
