Mahindra Group forms Novavayu Aerospace Ltd to serve India's defense
Business
Mahindra Group just set up Novavayu Aerospace Ltd. (NAL), a new company focused on making aircraft and aerospace products for India's defense sector.
NAL was incorporated and is fully owned by Mahindra Defence Systems Ltd. with its headquarters in Mumbai.
NAL starts with ₹1Cr authorized capital
NAL is starting out with ₹1 crore in authorized capital and will work primarily on defense manufacturing.
This move fits Mahindra's plan to step up its game in aerospace tech.
With NAL now part of Mahindra's layered subsidiary structure, the group hopes to strengthen its role in the country's growing defense industry.