Mahindra & Mahindra launches Novavayu Aerospace to build aircraft
Business
Mahindra & Mahindra just launched Novavayu Aerospace Limited (NAL), a new subsidiary focused on making aircraft and aerospace products.
Incorporated under Mahindra Defence Systems, NAL officially got its certificate on July 30.
It's a move aimed at expanding Mahindra's presence in the defense and aerospace scene.
NAL owned by Mahindra & Mahindra
NAL was incorporated with an authorized share capital of ₹1 crore, fully owned by Mahindra & Mahindra through its defense arm.
While NAL will undertake the manufacture of aircraft, aerospace products and related services and activities, it's clear this is part of Mahindra's plan to step into aircraft manufacturing, adding to their lineup of armored vehicles, naval systems, and surveillance tech.