Adani Defence Systems & Technologies Ltd (ADSTL) has entered into a share purchase agreement to acquire an 85.8% stake in Air Works, the largest private sector maintenance, repair and overhaul (MRO) company in India.
Adani Enterprises Limited informed the stock exchange on Monday that the purchase will cost an enterprise value of Rs 400 crore.
“Creating a presence in the MRO sector is more than just a strategic step—it’s a commitment to building an integrated aviation services ecosystem that strengthens the backbone of India’s aviation infrastructure. Together, we are excited to play a pivotal role in shaping the future of India’s skies,” said Jeet Adani, director, Adani Airports.
The group handles seven premier airports, including Mumbai, Ahmedabad and Lucknow, which together serve 33% of the nation’s aviation cargo and 25% of its passengers. The eighth airport in its portfolio is an upcoming greenfield airport in Navi Mumbai, which is being developed in a public-private partnership and will be operational next year.
“Our vision is to deliver a full-spectrum MRO offering—spanning line, base, component, and engine maintenance—to meet the needs of both commercial and defence aviation sectors. In a time when Aatmanirbharta in defence is a national imperative, we stand fully committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector,” said Ashish Rajvanshi, CEO, Adani Defence & Aerospace.
Air Works Group was founded in 1951 and is the largest MRO in India, employing roughly 1,500 people and having the greatest pan-India network spanning 27 cities.
It includes lessors, commercial airlines, military clients, business aviation firms and international aviation OEMs. Heavy checks, line maintenance, cabin and interior solutions, exterior finishing and painting, avionics upgrades, integrations and retrofits, end-of-lease/redelivery checks, maintenance training and asset management services are among the 50 types of aircraft for which it provides services to both domestic and international customers.
