Companies

Adani buys 50% stake in drone start-up General Aeronautics

Our Bureau | | Updated on: May 28, 2022
Image for representational purpose only

Image for representational purpose only | Photo Credit: mailfor

Deal is likely to be completed by July 31

Adani Enterprises’ subsidiary, Adani Defence Systems and Technologies Ltd has signed a definitive agreement to acquire 50 per cent stake in General Aeronautics Private Ltd. 

In its regulatory filing, Adani said: “With reference to the captioned subject, we would like to inform you that Adani Defence Systems and Technologies Ltd — a wholly owned subsidiary of Adani Enterprises Ltd —has signed definitive agreement to acquire 50 per cent stake in General Aeronautics Private Limited on May 27, 2022.”

General Aeronautics provides commercial robotic drones and drone-based solutions for crop protection, crop health, precision farming, and yield monitoring using artificial intelligence and analytics for the agricultural sector.

It added, “Adani Defence Systems and Technologies Limited shall leverage its military drone and AI /ML capabilites and work with General Aeronautics for providing end to end solutions for domestic agricultural sector.”

The deal is likely to be completed on or before July 31.

Focus on drone industry

This acquisition comes in the backdrop of the focus on the Indian drone industry. On Friday, Prime Minister Narendra Modi invited investors from all over the world to invest in India’s drone industry.

He said while inaugurating the Bharat Drone Mahotsav in New Delhi, “I hope there will be more experiments in the usage of drones in the future. I am again inviting investors from the country and all over the world. I am also appealing to experts in the industry, to make drones more accessible to people. I want to appeal to youngsters that new drone startups should come up

Published on May 27, 2022
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