'Adani Defence Systems' acquires 'Alpha Design Technologies' for Rs 400 crore

Adani Defence Systems, a wholly-owned arm of Adani Enterprises, has acquired Alpha Design Technologies (ADTL) for Rs 400 crore, according to a regulatory filing.

"Adani Defence Systems and Technologies Ltd...has acquired a stake in Alpha Design Technologies," Adani Enterprises said in a BSE filing.

Alpha Design Technologies provides Adani tier-I capability in defence and aerospace.

Commenting on the cost of acquisition, the company said it was for "Rs 400 crore", and acquired "1,33,16,909 equity shares of Rs 10 each at a premium of Rs 290.37 per share".

Alpha Design specialises in design, development and production of defence electronics and avionics equipment.