Adani Enterprises’ wholly-owned subsidiary Adani Defence Systems and Technologies Ltd. signed a deal on Friday to buy a 50% stake in Bengaluru-based General Aeronautics Pvt. Ltd.
In an exchange filing, Adani Defence Systems and Technologies said it will "use its military drone and AI/ML capabilities and engage with General Aeronautics to provide end-to-end solutions for the domestic agricultural industry."
Adani’s joint venture with Israeli business Elbit Systems was picked in the first tentative list under the production-linked incentive (PLI) system for drones and drone components, and the deal is anticipated to close by July 31.
General Aeronautics is an end-to-end agri solutions company that was founded in 2016.
It uses artificial intelligence and analytics to provide robotic drones and drone-based solutions for crop protection, crop health, precision farming, and yield monitoring in the agriculture sector.
After the stocks of the ports-to-power conglomerate’s listed companies boosted his fortunes, billionaire Gautam Adani went on an acquisition binge.
Adani Health Ventures was formed last week, marking the Adani group’s first venture into healthcare (AHVL).
The new company will be involved in healthcare-related operations such as the establishment of medical and diagnostic facilities, as well as research centres.
Only four days prior, the Adani family had signed binding agreements to buy Holcim Ltd of Switzerland’s entire share in two Indian cement companies, Ambuja Cements Ltd and ACC Ltd.
The combined value of the Holcim stock and open offer consideration for the two cement companies is estimated to be over $10.5 billion, making this Adani’s largest acquisition to date.
The company is also attempting to break into the news media industry.
Adani Enterprises announced plans to buy a 49 percent share in Quintillion Business Media, the parent company of business news site BQPrime, earlier this month.
Stay tuned and updated with Aviationa2z.
