Kay Power and Paper has incorporated a new subsidiary by the name of Satara Aerospace and Defence Industrial Park. The subsidiary company was incorporated on 05 June 2024.

Satara Aerospace and Defence Industrial Park, the wholly-owned subsidiary of the company, will carry on the business of development of an industrial park with all infrastructure facilities in terms of development of land, civil structure, roads, water, transportation, power, warehousing, logistics, built-to-suit factory buildings, construction services. It would also include operation and maintenance (O&M) for manufacturing/ business units for setting up units to produce components for defence, aerospace, and atomic energy and other business units to carry out industrial or commercial activities in accordance with the scheme.

The paid up share capital is Rs 10,00,000, divided into 1,00,000 equity shares. 100 percent of the paid-up share capital of Satara Aerospace and Defence Industrial Park is held by Kay Power and Paper.