Dassault Aviation to take majority control of JV with Reliance Infra

French aerospace company Dassault Aviation will raise its stake in Dassault Reliance Aerospace Ltd (DRAL) from 49% to 51%, making the joint venture its subsidiary, Reliance Infrastructure Ltd said in a stock exchange filing on Friday.

Reliance Aerostructure Ltd (RAL), a wholly-owned unit of Reliance Infra, will transfer 2% of its holding in DRAL to Dassault Aviation for a consideration of ₹175.96 crore, based on an independent valuation.

The deal is expected to be completed by November 1, 2025.

Currently, RAL holds 51% in DRAL while Dassault Aviation owns 49%.

Post-transaction, Reliance Infra’s shareholding will drop to 49% and DRAL will be reclassified as an associate company, the filing said.

The restructuring will make DRAL a subsidiary of Dassault Aviation, ensuring guarantees, warranties and service commitments for customers in India and worldwide.

Dassault, which manufactures Rafale fighter jets and Falcon business aircraft, has designated DRAL as its Centre of Excellence for Falcon aircraft.

In June, Dassault and RAL had agreed to manufacture Falcon 2000 business jets in India for global markets with a final assembly line in Nagpur, Maharashtra.

The first ‘Made in India’ Falcon 2000 is targeted to fly in 2028.

Falcon jets are among the most successful executive aircraft in their category, with Dassault holding an order backlog of 75 units as of June 30, 2025.

As of March 31, 2025, DRAL reported a turnover of ₹69.93 crore, contributing 0.23% to Reliance Infra’s consolidated turnover, and a net worth of ₹47.13 crore, accounting for 0.33% of the group’s net worth.

Shares of Reliance Infrastructure closed at ₹280 on the BSE.