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Adani Enterprises' wholly owned subsidiary Adani Defence Systems and Technologies has acquired control of Alpha Design Technologies, a defence electronics and avionics manufacturer. The deal value was not disclosed.
Adani Defence & Aerospace acquired a 25% stake in Bengaluru-based Alpha Design Technologies for an estimated 400 crore ($55.9m). The transfer of shares was actioned after signing the agreement in New Delhi on December 13, 2018.
Adani Enterprises Ltd acquired Alpha Design Technologies Pvt Ltd for ₹400 crore in an all-cash deal, strengthening its position in the defence sector.