Dassault buys additional 2% stake in JV with Anil Ambani's Reliance Aerospace to take majority control
By Unnikrishnan | 05 Sep 2025
France’s Dassault Aviation has invested Rs176 crore (about $20 million) to acquire an additional 2 per cent stake in its joint venture with Anil Ambani’s Reliance Aerospace and take majority control, with a 51 per cent stake.
The deal, which is expected to close by 1 November, will leave Reliance Anil Ambani Group with a 49 per cent ownership in Dassault Reliance Aerospace Ltd (DRAL), Reliance Infrastructure said in a stock exchange filing on Friday.
With the completion of the transaction, DRAL, which currently manufactures parts for the Rafale fighter aircraft used by the Indian Air Force, and also some components for Dassault's Falcon 2000 business jets, will cease to be a subsidiary of Reliance Infrastructure and become an associate company of the French aircraft maker.
With a turnover of Rs69.93 crore in FY25 and a net worth of Rs47.13 crore, Dassault Reliance Aerospace accounted for about 0.23 per cent of Reliance Infra’s consolidated revenues, and about 0.33 per cent of consolidated net worth as of 31 March 2025.
Dassault Aviation has been expanding its footprint in India since securing the Rafale fighter jet deal with the government in 2016.
With a controlling stake in DRAL, Dassault will be in a better position to ensure guarantees, warranties and service commitments for the customers of its Falcon aircraft in India and across the world.
Dassault has already designated DRAL, at the MIHAN special economic zone in Nagpur, Maharashtra, as a Centre of Excellence (CoE) for the Falcon business jet programme. It is also the first final assembly line for Falcon aircraft outside France.
The Falcon is one of the most successful aircraft in the premium business jet category. As of 30 June 2025, Dassault Aviation reported an order backlog of 75 Falcon aircraft.
Dassault’s move to take majority control in DRAL marks a shift in strategy of its India operations and comes at a time when the French company is sharpening its India focus.
The transfer of the 2 per cent equity to Dassault also comes at a time when Reliance Infrastructure’s promoter Anil Ambani is under investigation by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) in connection with an alleged bank fraud.
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