Adani Enterprises Acquires Punj Lloyd's Malanpur Defence Manufacturing Unit

Adani Enterprises' wholly owned subsidiary, Adani Defence Systems and Technologies Ltd (ADSTL), executed a business transfer agreement on February 28, 2026, to acquire Punj Lloyd Ltd's defence manufacturing unit in Malanpur, Madhya Pradesh, through a slump sale. The transaction involves no share issuance and is not a related party deal. This acquisition aims to strengthen Adani's defence manufacturing capabilities by integrating existing infrastructure amid growing government support for indigenization and an expanding defence budget.