New Delhi: Adani Enterprises Ltd on Tuesday said its defence subsidiary has signed a memorandum of understanding (MoU) with Brazilian aerospace major Embraer SA to explore the development of a regional transport aircraft ecosystem in India, following a sharp movement in the company’s share price.
In a regulatory filing, the company said a news report on a potential collaboration between the Adani Group and Embraer led to market speculation, prompting the clarification under Regulation 30(11) of SEBI’s disclosure norms.
Adani Enterprises confirmed that Adani Defence Systems and Technologies Ltd, a wholly owned subsidiary, has executed a non-binding MoU with Embraer. The two companies will jointly work out the scope and structure of cooperation, after which any definitive agreements, if required, will be signed.
However, the company stressed that at this stage there is no material event or information that warrants disclosure under Regulation 30, and the observed price movement in the stock on January 27 was purely market-driven.
The proposed collaboration is in line with Adani Group’s broader push to expand its presence in defence manufacturing and aerospace, aligned with India’s ‘Make in India’ and defence indigenisation goals. Embraer is a global player in regional and military transport aircraft.
Adani Enterprises said it would make appropriate disclosures in compliance with applicable regulations as and when developments become material.