Adani Enterprises acquires Alpha Design for Rs400cr

Adani Enterprises on Thursday announced acquisition of aerospace and defence player Alpha Design Technologies Pvt Ltd for Rs400cr in an all-cash deal.

Dec 14, 2018 09:12 IST India Infoline News Service

Adani Enterprises Ltd on Thursday announced acquisition of aerospace and defence player Alpha Design Technologies Pvt Ltd for Rs400cr in an all-cash deal.

The acquisition strengthens Adani’s positioning in the defence sector. Alpha Design Technologies provides Adani Defence and Aerospace a strong tier-1 capabilities for building a base for graduating to platform capabilities.

Established in 2003, ADTPL is in the business of defence electronics, avionics, aero-structure assemblies, space and satellite systems and simulators among others. The company has posted consolidated turnover of Rs218cr for 2017-18, Adani informed in a statement on the stock exchanges on Thursday.

Its key customers include global OEMs, defence PSUs and research establishments such as DRDO besides Indian Armed forces and ISRO.

Adani Enterprises Ltd is currently trading at Rs155.35 down by Rs0.45 or 0.29% from its previous closing of Rs155.80 on the BSE.
The scrip opened at Rs156 and has touched a high and low of Rs156.55 and Rs154.20 respectively.

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