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An announcement from Punj Lloyd Ltd. ( (IN:PUNJLLOYD) ) is now available.
Punj Lloyd Ltd., currently under corporate insolvency resolution and in liquidation, has completed the transfer of its Defence Unit to Adani Defence Systems and Technologies Ltd. under a business transfer agreement dated 28 February 2026. In parallel, subsidiary Punj Lloyd Aviation Ltd. has initiated the transfer of its shares in Air Works India (Engineering) Pvt. Ltd. to the same Adani group entity, marking a significant divestment of defence and aviation assets as part of the court-approved resolution plan led by Adani Infra (India) Ltd.
The completion of these transactions crystallises Adani’s acquisition plan for key Punj Lloyd businesses, reshaping ownership in India’s defence and aerospace services space while helping monetise assets for creditors of the insolvent company. These moves are expected to streamline Punj Lloyd’s remaining operations under the insolvency process and further consolidate Adani’s position in defence manufacturing and aviation engineering support.
More about Punj Lloyd Ltd.
Punj Lloyd Ltd. is an Indian engineering and construction company with interests spanning energy, infrastructure and defence projects. Through its subsidiaries, the group has also held stakes in aviation-related engineering services, positioning it as a diversified player with exposure to strategic defence and aerospace sectors.
Current Market Cap: 748.4M INR
For a thorough assessment of PUNJLLOYD stock, go to TipRanks’ Stock Analysis page.