Adani Group has signed a definitive agreement to acquire Air Works for INR 400 crores as a part of its growing defence portfolio. This acquisition is just one among the many that the Adani Group has purchased over the past few years. Air Works has six investors and received its first external funding from GTI Group and Punj Lloyd in 2007. All existing investors, including the Menon family, the founders of the group, will exit the company following the transaction. Earlier this year, Air Works partnered with Mach Technik to expand line maintenance in DXB, but despite the expansion, the
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