The latest acquisition allows Adani Group to foray into defence technologies like anti-submarine warfare fleet, military drones and more.
The Adani Group is all set to acquire a substantial stake in Alpha Design Technologies Pvt with an initial investment of more than Rs 400 crore in an all-cash deal and is optimistic towards further expansion in the coming months.
Alpha Design Technologies Pvt Ltd (ADTL), a Bengaluru based high-tech firm, has been known for providing Indian and international organizations with technical support for a wide range of products, local assembly, manufacturing facilities and technology integration services.
The company is also engaged in the development of products such as drones, helicopters and simulators. It is also a major supplier of light combat aircraft (LCA) programs.
ADTL has proposed to the Navy that it can participate in a continuing contract of Rs. 210 billion to upgrade an anti-submarine warfare fleet by working with the Adani Group. Three people aware about the latest development informed Economic Times that initially Adani Elbit Defense Systems’ plant in Hyderabad will work with Israel’s Elbit Systems to produce the Hermes 900 drone that was originally used in the export market.
The acquisition is considered to be very important as it will allow the Adani Group to foray into the Indian defense manufacturing market while witnessing real-time access to the country’s export market also.