Adani acquires Alpha Design for Rs 400 crore
Adani Defence Systems, a wholly-owned arm of Adani Enterprises, has acquired Alpha Design Technologies (ADTL) for Rs 400 crore, according to regulatory filing.
"Adani Defence Systems and Technologies Ltd...has acquired stake in Alpha Design Technologies," Adani Enterprises said in a BSE filing.
Alpha Design Technologies provides Adani tier-I capability in defence and aerospace.
Commenting on the cost of acquisition, the company said it was for "Rs 400 crore", and acquired "1,33,16,909 equity shares of Rs 10 each at a premium of Rs 290.37 per share".
Alpha Design specialises in design, development and production of defence electronics and avionics equipment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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