Mumbai, April 29, 2026: Aeroflex Enterprises Limited has approved the sale of its 68% equity stake in subsidiary M.R. Organisation Limited (MRO) to Ingersoll-Rand Industrial U.S., Inc. for a cash consideration of ₹22,742 lakh (approximately ₹227.42 crore). The decision was approved by the company’s Board of Directors at a meeting held on April 29, 2026. The transaction forms part of Aeroflex’s strategic exit from the compressor parts and services business operated through MRO.
The Board also approved the execution of a Share Purchase and Subscription Agreement involving Ingersoll-Rand Industrial U.S., Inc., M.R. Organisation Limited and its shareholders.
Upon completion of the transaction, MRO will cease to be a subsidiary of Aeroflex Enterprises.
According to the company’s disclosure, the transaction is expected to be completed within 120 days from the signing of the agreement, subject to customary closing conditions.
For FY2024-25, MRO reported turnover of ₹78.25 crore, contributing 13.53% to Aeroflex’s consolidated turnover. The subsidiary’s net worth stood at ₹60.38 crore, accounting for 7.34% of the company’s consolidated net worth.
Ingersoll-Rand Industrial U.S., Inc., the buyer in the transaction, is part of the global Ingersoll Rand group and operates in compressed air solutions, including air compressors, nitrogen generators and PET compressors, with a presence spanning over 160 years.
Aeroflex clarified that the transaction is not a related-party deal. The company also stated that shareholder approval for the divestment had already been obtained through an extraordinary general meeting held on January 27, 2026, in compliance with Regulation 37A of SEBI’s Listing Obligations and Disclosure Requirements Regulations.