Intimation relating to Share Purchase Agreement executed by a subsidiary entity
M&A
▲ Positive Development
LOW RISK
📅 Filed on BSE: 16 Jul 2026, 11:00 PM IST · BSE ID: 9c839ed8-ade9-44a2-8bcd-b371afd42b30
View Original BSE Filing (PDF)
💡
In Simple Terms
Adani Enterprises' subsidiary is buying the rest of a flight training company, making it fully owned, to expand aviation services.
🤖 AI Summary
- Adani Defence Systems & Technologies Limited (ADSTL) will acquire the remaining 44.6% stake in Flight Simulation Solutions Private Limited (FSSPL).
- Upon completion, ADSTL's stake in FSSPL will increase from 55.40% to 100%, making FSSPL a wholly-owned subsidiary.
- ADSTL's effective stake in Flight Simulation Technique Centre Private Limited (FSTC), an FSSPL subsidiary, will also rise from 72.80% to 100%.
- FSSPL, engaged in flight training services, reported consolidated revenue of INR 235 Crore for FY 2025-26.
- The acquisition, for cash consideration, is expected to be completed within two months at an enterprise value of INR 820 Cr for FSTC.
🔢 Key Numbers — exact figures from BSE filing, not rounded
FSSPL Consolidated Revenue (FY 2025-26)
INR 235 Crore
FSSPL Consolidated Revenue (FY 2024-25)
INR 240 Crore
FSSPL Consolidated Revenue (FY 2023-24)
INR 215 Crore
ADSTL Stake in FSSPL (Pre-acquisition)
55.40%
ADSTL Stake in FSSPL (Post-acquisition)
100%
ADSTL Effective Stake in FSTC (Pre-acquisition)
72.80%
ADSTL Effective Stake in FSTC (Post-acquisition)
100%
Enterprise Value for FSTC
INR 820 Cr
🏢 How This Affects the Company
This acquisition expands Adani Defence Systems & Technologies Limited's footprint in the Aviation Services industry, specifically in integrated flight training services for pilots. Full ownership of FSSPL, and consequently FSTC, integrates their operations more closely into ADSTL's aerospace portfolio.
The cost of acquisition remains at an enterprise value of INR 820 Cr for FSTC, which is a cash consideration. FSSPL reported a consolidated revenue of INR 235 Crore for FY 2025-26, which will be fully consolidated into ADSTL's financials post-acquisition.
Consolidating 100% ownership of FSSPL and FSTC streamlines operations and decision-making for ADSTL in the pilot training sector. It allows for full control over FSTC's DGCA and EASA approved pilot training organization.
👥 What This Means For Shareholders
✅
Action Required
No direct action is required from shareholders concerning this acquisition intimation.
👤
Who Is Affected
Shareholders of Adani Enterprises Ltd will be indirectly affected as a wholly-owned subsidiary is making an acquisition for cash consideration, impacting the consolidated financials and business segments.
🔍
Management Signal
The decision to increase stake to 100% indicates management's intent to deepen its involvement and control within the Aviation Services and flight training sector.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Completion of FSSPL acquisition — verify within 2 months as per stated timeline.
Q2 FY27 results — monitor consolidation of FSSPL's financials.
Future updates on integration of FSSPL and FSTC into ADSTL's operations.
LOW RISK
The acquisition is an increase in existing stake, indicating familiarity with the target entity.
💡 Investor Takeaway
Adani Defence Systems & Technologies Limited (ADSTL) will acquire the remaining 44.6% stake in FSSPL, increasing its ownership to 100%. This makes FSSPL a wholly-owned subsidiary, with ADSTL's effective stake in FSTC also reaching 100%. FSSPL reported INR 235 Crore in consolidated revenue for FY 2025-26, with the acquisition cost for FSTC remaining at an enterprise value of INR 820 Cr.
⚖️ Strengths & Concerns
✅ Positives
- Full acquisition of FSSPL and its subsidiary FSTC provides 100% control over an established DGCA and EASA approved pilot training organization.
- FSSPL and its subsidiaries generated consolidated revenue of INR 235 Crore in FY 2025-26, adding to ADSTL's revenue base.
📅 Company Track Record
Adani Enterprises has been actively expanding its portfolio through acquisitions in 2026. Prior acquisitions include Madhuvanti Build Estate for INR 765.25 crores in June 2026 and 100% of Portus Ventures Private Limited for INR 1.40 lakhs in June 2026, both executed by subsidiaries.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is Adani Defence Systems & Technologies Limited acquiring?
Adani Defence Systems & Technologies Limited (ADSTL) is acquiring the remaining 44.6% stake in Flight Simulation Solutions Private Limited (FSSPL).
What will be ADSTL's stake in FSSPL after the acquisition?
Upon completion of the transaction, ADSTL's stake in FSSPL will increase from 55.40% to 100%, making FSSPL a wholly-owned subsidiary of ADSTL.
What is the enterprise value for Flight Simulation Technique Centre Private Limited (FSTC)?
The cost of acquisition remains at an enterprise value of INR 820 Cr for FSTC, a subsidiary of FSSPL.
What was FSSPL's consolidated revenue for FY 2025-26?
Flight Simulation Solutions Private Limited (FSSPL) had a consolidated revenue of INR 235 Crore for the fiscal year 2025-26.
What is the expected timeline for the completion of this acquisition?
The indicative time period for completion of the acquisition is within 2 months from the date of the filing.
Questions based on this BSE filing only. For information purposes.