ADANI ENTERPRISE SUBSIDIARY TO ACQUIRE PUNJ LLOYD'S DEFENSE UNIT

Adani Defence Systems and Technologies Ltd (ADSTL), a wholly owned subsidiary of

has executed an agreement with Punj Lloyd Ltd for the acquisition of it's defence unit located in Malanpur, Madhya Pradesh. The agreement involves the transfer of Punj Lloyd’s Malanpur-based defence manufacturing facility to ADSTL through a slump sale. This agreement marks a strategic step in strengthening presence in the defence manufacturing sector, with the Malanpur unit expected to enhance it's production capabilities and expand it's footprint in the domestic defence ecosystem. With a market cap of Rs 2.41 lac crore, has seen a profit growth of 78% CAGR over the past 3 years. With such new acquisitions on hand, the company's market cap and profits are expected to grow in the future.