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Aequs Raises Rs 448 crore in Funding Round Led by Singapore-based Amansa Capital

Other investors include Steadview Capital, Catamaran, Sparta Group, and other individual investors. Capital to fund entry into new Advanced Technology Products vertical and existing operations.

Bengaluru, October 30, 2023: Precision manufacturing company Aequs Pvt. Ltd., has raised $54 million (Rs 448 crore) in a fresh round of equity funding led by Singapore-based Amansa Capital, which brings on board five new investors.

Apart from Amansa, the current round includes leading global investment firm Steadview Capital, Catamaran, the family office of Infosys founder N. R, Narayana Murthy, Sparta Group LLC., the investment office of Desh Deshpande, and other individual investors. This follows an earlier round of Rs 225 crore in April 2023 led by Amicus Capital, which has also participated in the current round through its affiliates.

Aequs, which operates a precision manufacturing platform in Aerospace and other verticals, will use the growth capital to launch a new Advanced Technology Products (ATP), vertical to manufacture high precision components for some of the world’s renowned consumer electronics companies. Being the largest Aerospace precision components manufacturer in India, Aequs currently derives almost 100% of its revenues from exports. It supplies precision components and assemblies to most global Aerospace companies such as Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton, and Honeywell.

Aequs has built a globally acknowledged aerospace-focused forgings-to-assembly integrated manufacturing ecosystem at India’s first Aerospace SEZ in Belagavi, Karnataka. It operates the largest aerospace machining capacity in India of over 1.2 million machining hours per year at this campus. Apart from operating 12 aerospace-focused, fully owned and JV units in (Belagavi), US (Paris, Texas), and France (Cholet), Aequs has five more operating units in Karnataka’s Koppal and Hubballi cities, for its non-aerospace businesses.

Aravind Melligeri, Chairman & CEO remarked: “Aequs has always believed in the Indian manufacturing story and for the past 15 years focused on maximizing in-country value add on the products it makes across the industry verticals it operates in. We are excited to partner with investors who have a deep understanding of the Indian capital markets, which I believe will bring immense value to Aequs. These partnerships will also help in tapping emerging opportunities due to the realignment of global supply chains and their relocation to India in many instances.”

Over the years, Aequs has made significant investments in building best-in-class manufacturing infrastructure and capabilities across industry verticals. It is well positioned to capture the surging interest from global customers in Indian manufacturing given its proven track record in precision engineering and large capacities on the ground.

AMBIT Private Ltd. was the exclusive investment banker for this transaction.

About Aequs Private Limited:

Founded in 2006 and nurtured as a unique, diversified contract manufacturing company, Aequs (www.aequs.com), provides vertically integrated product solutions across the Aerospace, Toys, and Consumer Durable Goods industries. By leveraging its manufacturing ecosystems, it reliably delivers supply chain efficiencies to its global customer base. Aequs currently operates manufacturing facilities across India, France, and the United States of America, and engages a workforce of over 4,000.

Contacts:

C Chitti Pantulu 

Aequs Private Limited

Aequs Special Economic Zone

T: +91 831 2499000 Ext: 5251  

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