Adani Defence Systems acquires 100% stake in Indamer Technics via JV with Prime Aero

Adani Defence Systems and Technologies Ltd (ADSTL), through its step-down subsidiary Horizon Aero Solutions Limited acquired a 100% stake in Indamer Technics Private Limited on Monday, August 11.

ADSTL, the defence arm of Adani Enterprises inked a definitive agreement to make the investment in Indamer Technics Pvt Ltd via Horizon Aero Solutions Ltd, a 50-50 joint venture between the former and Prime Aero.

Prime Aero is owned by Prajay Patel who is also the director of Indamer Technics, Adani Enterprises said in a regulatory filing.

“The partnership brings together Adani’s infrastructure and scale with Indamer Technics’ extensive technical expertise, reinforcing the platform’s position as India’s largest private MRO (Maintenance, Repair and Overhaul) network,” the filing stated.

Indamer Technics is a company engaged in the business of MRO of aircrafts and is strategically located in Nagpur’s MIHAN special economic zone.

Commenting on the acquisition, Ashish Rajvanshi, CEO of Adani Defence & Aerospace: “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.”

Indamer’s 30-acre facility has the capacity to accommodate 15 aircraft bays across 10 hangars and is approved by DGCA, FAA (USA) and other global civil aviation regulators.

“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,” Rajvanshi stated.

Indamer offers a comprehensive suite of MRO services, including lease return checks, heavy c-checks, structural repairs, and aircraft painting to Indian and global customers, the filing said.

“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 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,” Patel added.

Shares of Adani Enterprises closed 4.23% higher at ₹2,270.2 apiece on the National Stock Exchange (NSE) on Monday. However, the announcement was made after the market closed.