Adani Enterprises Ltd (AEL) through its step-down subsidiary Horizon Aero Solutions Ltd (HASL) has completed the acquisiton of 100% stake in Indamer Technics Pvt Ltd., marking a significant expansion of its footprint in the aircraft services and maintenance, repair and overhaul (MRO) industry.
Following the buyout of shares from ITPL and its existing shareholders, Indamer Technics has become a step-down subsidiary of AEL, the company said in a regulatory filing. The enterprise value of the acquisition is pegged at ₹330 crore.
The acquisition aligns with AEL’s broader strategy to build an integrated aviation services platform, capitalising on the rapid growth in India’s civil aviation sector and increasing demand for domestic MRO capabilities.
Indamer Technics is among India’s leading private-sector MRO players. It operates a state-of-the-art 30-acre facility at the MIHAN Special Economic Zone in Nagpur and offers a comprehensive suite of MRO services such as lease return checks, heavy c-checks, structural repairs, and aircraft painting to major Indian and global airline customers.
ITPL facility has the capacity to accommodate 15 aircraft bays across 10 hangars. ITPL is approved by DGCA, FAA (USA) and other global civil aviation regulators. The company reported a turnover of ₹138 crore for FY25.
Separately, AEL announced the incorporation of Navi Mumbai Power Distribution Ltd (NMPDL) as a wholly owned subsidiary of an existing arm of AdaniConneX Pvt Ltd. The new entity will undertake the business of electric power generation and distribution.
Through AdaniConneX, AEL indirectly holds a 50% stake in NMPDL, further strengthening its presence in the energy and infrastructure ecosystem.