Adani Enterprises Executes Business Transfer Agreement To Acquire Punj Lloyd's Defence Unit On February 28, 2026

Ahmedabad: Adani Enterprises has moved to expand its defence footprint, formalising the transfer of a defence manufacturing unit from Punj Lloyd Ltd through a slump sale arrangement.

Signs Business Transfer Deal

Adani Defence Systems and Technologies Ltd (ADSTL), a wholly owned subsidiary of Adani Enterprises Limited, executed a Business Transfer Agreement on February 28, 2026, with Punj Lloyd Ltd. The agreement covers the transfer of a Defence Unit of Punj Lloyd Ltd situated at Malanpur, Madhya Pradesh. The company said it received intimation of the execution of the agreement at 12:27 AM IST on March 1, 2026, and has disclosed the development under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Acquisition Through Slump Sale

The transaction involves the acquisition by ADSTL of the Malanpur-based Defence Unit by way of slump sale. The filing clarifies that the agreement is specifically for the transfer of the Defence Unit at Malanpur through this route. No shares are being issued as part of the transaction, and therefore, details such as issue price or class of shares are not applicable. The disclosure also notes that ADSTL does not hold any shareholding in Punj Lloyd Ltd in relation to this agreement.

Not A Related Party Transaction

The company stated that the transaction does not fall within related party transactions. ADSTL is a wholly owned subsidiary of Adani Enterprises Limited, and no additional special rights, such as board appointments or capital structure restrictions, have been detailed beyond the transfer itself. Other disclosures, including nominee appointments or potential conflicts of interest, have been marked as not applicable in the filing.

Strengthens Defence Portfolio

With the addition of the Malanpur unit, Adani Enterprises is consolidating its defence manufacturing presence through its subsidiary ADSTL. The move signals continued focus on building capabilities in the defence segment. The company has requested stock exchanges to take the information on record.

Disclaimer: This article is based solely on the stock exchange filing dated March 1, 2026, by Adani Enterprises Limited and does not include any information beyond the referenced document.