Adani Enterprises Limited has informed the Exchange regarding ' Intimation for signing of Share Purchase Agreement by Horizon Aero Solutions Limited, a step subsidiary of the Company with Indamer Technics Private Limited and its existing shareholders'.
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Awaiting price reaction for this filing.
Adani Enterprises' step subsidiary Horizon Aero Solutions Limited (HASL) has signed a Share Purchase Agreement on 11 August 2025 to acquire 100% of Indamer Technics Private Limited (ITPL), an aircraft Maintenance, Repair and Overhaul (MRO) company based in Nagpur. HASL itself is a 50-50 joint venture between Adani Defence & Aerospace and Prime Aero Services LLP (owned by Indamer's director Prajay Patel). Indamer runs a 30-acre greenfield facility in the MIHAN SEZ in Nagpur with 10 hangars and 15 aircraft bays, approved by DGCA and FAA. This is Adani's second MRO acquisition after Air Works, positioning the group as the largest private-sector MRO player in India. The deal is a related-party transaction (through HASL) and is being carried out at arm's length. No financial terms or deal value were disclosed in the filing.
Strengthens Adani Enterprises' aviation services and defence aerospace portfolio, adding scale to its MRO ambitions at a time when Indian carriers are set to induct over 1,500 aircraft. Positive strategic move for long-term value creation, though near-term stock impact may be limited as the deal is at the subsidiary level with no financials shared.