Adani's arm forms defence subsidiary with Bulgarian firm Armaco

Adani's arm forms defence subsidiary with Bulgarian firm Armaco

The JV in which Adani's arm will have a 56 per cent stake, will be called Armada Defence Systems Limited.

FPJ Web DeskUpdated: Saturday, January 21, 2023, 04:50 PM IST
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Through an exchange filing, Indian conglomerate Adani Enterprises has announced a joint venture between its subsidiary Agneya Systems Limited (ASL) and Bulgaria's Armaco JSC.

The JV in which Adani's arm will have a 56 per cent stake, will be called Armada Defence Systems Limited, and will supply products for the Indian Armed Forces, under the Atmanirbhar Bharat initiative.

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