Adani Defence to acquire 100% stake in Indamer Technics in MRO growth bid

Adani Defence & Aerospace on Monday announced that it has, in partnership with Prime Aero, signed a definitive agreement to acquire 100 per cent ownership of Indamer Technics Private Limited (ITPL), a private-sector Maintenance, Repair, and Overhaul (MRO) company.

 

The investment will be made through Horizon Aero Solutions Limited, a 50-50 joint venture between Adani Defence & Aerospace and Prime Aero, which is owned by Prajay Patel, director of Indamer Technics, the company stated.

 

ITPL operates a facility in Nagpur’s MIHAN special economic zone, covering 120,000 square metres and housing 15 aircraft bays across 10 hangars, the company said, adding that ITPL is approved by India’s Directorate General of Civil Aviation (DGCA), the United States Federal Aviation Administration (FAA), and other international regulators.

 

It provides services including lease return checks, heavy C-checks, structural repairs, and aircraft painting for Indian and global clients, the statement added.

 

The company, however, did not disclose the amount at which the deal is proposed to be executed. 

 

MRO expansion drive

 

This comes months after the Adani group acquired an 85.1 per cent stake in Air Works India, India's largest privately-owned aviation services and MRO company, in a ₹400 crore deal.

 

The developments come as part of the company's plan to expand in the aircraft services and MRO segment.

 

“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," said Ashish Rajvanshi, chief executive officer (CEO) of Adani Defence & Aerospace.

 

“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 Patel, director of Indamer Technics and Prime Aero.