Adani Enterprises to acquire 50% stake in General Aeronautics

Adani Defence Systems and Technologies Limited, a wholly-owned subsidiary of Adani Enterprises Limited has signed a definitive agreement to acquire 50 percent stake in General Aeronautics Private Limited.

General Aeronautics Private Limited 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.

The Indian multinational conglomerate said in an exchange filing: “The Adani Defence Systems and Technologies Limited shall leverage its military drone and AI/ ML capabilities and work with General Aeronautics for providing end-to-end solutions for the domestic agricultural sector.”

The acquisition is expected to be completed by July 31, 2022. The acquisition comes at a time Prime Minister Narendra Modi has invited investors from all over the world to invest in India's drone industry.

PM Modi pointed out that drones were being used in many government schemes such as SVAVITMA (for land mapping). With the help of drones, 65 lakh property cards have been generated and expended to property holders. He further said that in the coming days, drones will find applicability in all sectors from defence to disaster management, and from farming to sports.

While inaugurating the Bharat Drone Mahotsav in New Delhi, Modi said, “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.”