Adani Enterprises Limited has successfully completed the acquisition of a 39% effective shareholding in Flight Simulation Technique Centre Pvt. Limited (FSTC) on December 30, 2025. The acquisition was executed through the company's subsidiaries as part of its strategic expansion into the aviation services sector.

Acquisition Structure and Timeline

The acquisition was completed through Adani Defence Systems and Technologies Limited (ADSTL), a wholly owned subsidiary of Adani Enterprises, and Horizon Aero Solutions Limited (HASL), which is a subsidiary of ADSTL with 50% shareholding held by ADSTL and 50% by Prime Aero Services LLP. The transaction details are outlined below:

Target Company Profile

Flight Simulation Technique Centre Pvt. Limited, established in 2011, operates as a Directorate General of Civil Aviation (DGCA) and European Union Aviation Safety Agency (EASA) approved pilot training organization. The company provides integrated flight training services to pilots with comprehensive infrastructure and equipment.

FSTC's Operational Capabilities

• Training Infrastructure: 11 flight simulators
• Aircraft Fleet: 17 training aircraft
• Services: Comprehensive pilot training programs
• Regulatory Approvals: DGCA and EASA certified

Financial Performance

FSTC has demonstrated consistent revenue growth over the past three years, reflecting strong demand for aviation training services:

The company's revenue growth trajectory shows an increase from ₹165.00 crores in FY 2022-23 to ₹195.00 crores in FY 2024-25, representing steady business expansion.

Strategic Impact

The acquisition aligns with Adani Enterprises' strategy to expand ADSTL's and HASL's footprint in the aviation services industry. The transaction is structured as an arm's length deal and does not fall within related party transactions. No governmental or regulatory approvals were required for this acquisition.

Regulatory Compliance

The acquisition details have been disclosed in compliance with Regulation 30 of SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company received information about the completion on December 30, 2025, at 10:17 PM and filed the regulatory disclosure on December 31, 2025.

Adani Enterprises Limited has successfully completed the first phase of its strategic acquisition in the aviation training sector, with its subsidiaries acquiring a 39% effective shareholding in Flight Simulation Technique Centre Private Limited (FSTC) on December 30, 2025.

Acquisition Completion Details

The completion marks a significant milestone in Adani's expansion into aerospace services:

Transaction Structure

The acquisition was executed through two subsidiaries of Adani Enterprises:

1. Adani Defence Systems and Technologies Limited (ADSTL) - A wholly-owned subsidiary of AEL
2. Horizon Aero Solutions Limited (HASL) - A subsidiary of ADSTL (50% held by ADSTL and 50% by Prime Aero Services LLP)

These entities signed share purchase agreements with Flight Simulation Solutions Pvt. Limited (FSS), FSTC (a subsidiary of FSS), and their existing shareholders in November 2025.

Target Company Profile

FSTC represents a well-established player in India's aviation training sector:

Financial Performance Track Record

FSTC has demonstrated consistent revenue growth over the past three years:

Strategic Rationale

The acquisition aligns with Adani Enterprises' diversification strategy and aims to expand ADSTL's and HASL's footprint in the Aviation Services industry. As a DGCA and European Union Aviation Safety Agency (EASA) approved pilot training organization, FSTC provides comprehensive integrated flight training services to pilots.

The transaction is structured as a non-related party transaction and requires no additional governmental or regulatory approvals. With the balance 33.8% stake expected to be acquired by January 2026, Adani Enterprises will gain majority control of this established aviation training platform.

Market Position

This move positions Adani Enterprises strategically within India's growing aviation ecosystem, complementing its existing airport operations and establishing a presence in the critical pilot training segment. The acquisition provides access to FSTC's established infrastructure of 11 flight simulators and 17 training aircraft, along with its regulatory certifications from both Indian and European aviation authorities.