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Gautam Adani in Defense Sector: Asia’s richest billionaire Gautam Adani is going to step into another sector. Adani Enterprises has entered into a joint venture deal with Bulgarian Armco JSC to foray into the defense business. Adani Group said that the subsidiary company Agyeya Systems Limited (ASL) has entered into a deal with Armaco JSC in the ratio of 56:44.
Adani Group said that while ASL holds 56 per cent stake, Armaco JSC holds the remaining 44 per cent. In a regulatory filing, Adani Enterprises said that under the Atmanirbhar Bharat mission, the company will manufacture a variety of products and parts for the Indian forces and move the country towards a self-reliant mission.
Gautam Adani bought shares at Rs 10
According to the document shared by the company, Adani Enterprises has bought 5600 equity shares in it at Rs 10 per share. The business will be conducted in the joint venture. As per the exchange filing, the company is registered in Gujarat and has its place of business in Ahmedabad. Now this company will do business together with Adani Group.
Gautam Adani is bringing the biggest FPO
Adani Enterprises, owned by Gautam Adani, the world’s third-richest person, is all set to raise $2.5 billion through a follow-on offer later this month. Although its date has not yet been revealed, but it is expected that this FPO may come before the budget. This will be the biggest FPO in the country.
These people will compete in defense
In the defense sector, Gautam has taken many group entries before Adani, in which companies like Tata, Mahindra & Mahindra, Bharat Forge and others have stepped into this sector. In such a situation, Gautam Adani can compete with these groups.
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