New Delhi: Adani Enterprises Ltd on Tuesday said its wholly owned subsidiary Adani Defence Systems and Technologies Ltd (ADSTL), along with Horizon Aero Solutions Ltd (HASL), has completed the acquisition of a 39% effective shareholding in Flight Simulation Technique Centre Pvt. Ltd (FSTC) on December 30, 2025.
The company disclosed the development in a regulatory filing to stock exchanges.
HASL is a subsidiary of ADSTL, with 50% held by ADSTL and the remaining 50% by Prime Aero Services LLP. The acquisition follows the share purchase agreements signed in November 2025 with FSTC, its parent Flight Simulation Solutions Pvt. Ltd (FSS), and existing shareholders.
The transaction has been executed through a cash consideration and values FSTC at an enterprise value of ₹820 crore. Adani said the acquisition does not fall under related-party transactions. The group also plans to acquire an additional 33.8% stake in FSTC by January 2026, subject to completion timelines outlined earlier.
FSTC operates in the aerospace and flight training segment and is a DGCA- and EASA-approved pilot training organisation. Established in 2011, the company provides integrated pilot training services and operates 11 flight simulators along with a fleet of 17 training aircraft. Its audited turnover stood at ₹195 crore in FY25, up from ₹184 crore in FY24 and ₹165 crore in FY23, reflecting steady growth in demand for aviation training services.
Adani said the acquisition is aimed at expanding the footprint of ADSTL and HASL in the aviation services industry, a segment expected to see sustained growth as India ramps up aircraft induction and pilot requirements amid rising air traffic. The move aligns with the group’s broader strategy of building end-to-end capabilities across defence, aerospace and aviation infrastructure.