Adani Enterprises Limited (AEL) announced the successful completion of the acquisition of 100% stake in Indamer Technics Private Limited (ITPL) through its step-down subsidiary, Horizon Aero Solutions Limited (HASL). The transaction, finalized on February 13, 2026, was valued at an Enterprise Value of approximately INR 330 crore. This strategic move aims to significantly expand AEL’s footprint within the high-growth Aircraft Services & Maintenance, Repair, and Overhaul (MRO) industry.
Acquisition of Indamer Technics Finalized
Further to its previous intimation dated August 11, 2025, Adani Enterprises Limited confirms that its step-down subsidiary, Horizon Aero Solutions Limited (“HASL”), has successfully completed the purchase of 100% shareholding in Indamer Technics Private Limited (“ITPL”). Consequently, ITPL has officially become a step-down subsidiary of AEL. The completion notice was received by the Company on February 13, 2026, at 7:51 p.m.
Transaction Details and Valuation
The acquisition was executed via a cash consideration. The total cost associated with the acquisition is detailed as an Enterprise Value of approximately INR 330 crore. The transaction was confirmed to have been conducted at arm’s length, with no related party involvement being reported. HASL has acquired the entirety of the shareholding, resulting in 100% control over ITPL.
Target Entity Profile and Strategic Rationale
Indamer Technics Private Limited (ITPL) is recognized as one of India’s prominent private sector MRO companies. It specializes in the Maintenance, Repair, and Overhaul (MRO) of aircraft, operating from a 30-acre facility in the MIHAN SEZ, Nagpur. The audited turnover for ITPL for the Financial Year 2024-25 stood at INR 138 crore, marking significant growth from INR 76 crore in FY 2023-24 and INR 42 crore in FY 2022-23.
The primary object of this acquisition is to strategically expand the Company’s footprint and capabilities within the specialized Aircraft Services & MRO industry, aligning with Adani’s broader infrastructure and logistics ambitions.
Source: BSE
