Hindustan Aeronautics Ltd (HAL) said in a BSE filing dated October 2, 2026, that it has signed an agreement for the HATSOFF acquisition, buying CAE Canada’s 50% stake at nil consideration. The transfer will make HATSOFF Helicopter Training Pvt. Ltd. a wholly-owned subsidiary of HAL.

HAL already owns half of the helicopter simulator training company, which currently operates as a 50:50 joint venture with CAE. The agreement covers the remaining 3,84,04,205 equity shares, each with a face value of Rs 10. The stated face value is distinct from the acquisition consideration, which HAL disclosed as nil.

The company expects the acquisition to be completed tentatively within 60 days of signing the Share Transfer Agreement. Full ownership will take effect upon transfer of the shares; the filing reports the agreement rather than a completed acquisition.

Full management control and transaction terms

HAL said the acquisition is intended to give it full management control and streamline decision-making by converting HATSOFF into a wholly-owned subsidiary. HATSOFF’s helicopter training business aligns with HAL’s main line of business.

  • HAL has received administrative approval from MOD-DDP, with due concurrence from DIPAM, Ministry of Finance, to acquire CAE’s entire stake in the joint venture.
  • HAL identified HATSOFF as a related party under SEBI’s listing regulations because of its existing 50% holding.
  • The company explicitly disclosed that the transaction is not at arm’s length.

Training business reports Rs 80.95 crore turnover

Incorporated on January 16, 2008, HATSOFF provides simulator-based helicopter pilot training for military and civil customers. Its customers include pilots from the IAF, Army, Navy, Coast Guard and BSF, along with civil helicopter operators such as Pawan Hans Limited and Global Vectra.

The company reported FY 2025-26 turnover of Rs 80.95 crore, compared with Rs 69.55 crore in FY 2024-25 and Rs 66.49 crore in FY 2023-24. Its authorised capital stands at Rs 76.84 crore and paid-up capital at Rs 76.80 crore, according to the details submitted by HAL to the exchanges.