Aequs Secures INR 448 Crore Funding Led by Amansa Capital of Singapore
- ByStartupStory | October 30, 2023
Aequs Pvt. Ltd., a precision manufacturing company, has successfully secured $54 million (approximately Rs 448 crore) in a fresh round of equity funding. This round was led by Singapore-based Amansa Capital and marked the entry of five new investors into the company’s investment portfolio.
Apart from Amansa Capital, the round included notable participants such as 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 various individual investors. It’s worth noting that Amicus Capital, which led an earlier round of Rs 225 crore in April 2023, also participated in this round through its affiliates.
Aequs is renowned for operating a precision manufacturing platform, primarily in the aerospace sector and other verticals. The company intends to utilize this growth capital to introduce a new vertical, Advanced Technology Products (ATP), aimed at manufacturing high-precision components for globally renowned consumer electronics companies. As 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 leading global aerospace companies, including Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton, and Honeywell.
Aequs has established a highly regarded aerospace-focused forgings-to-assembly integrated manufacturing ecosystem located in India’s first Aerospace Special Economic Zone (SEZ) in Belagavi, Karnataka. This ecosystem boasts the largest aerospace machining capacity in India, with over 1.2 million machining hours per year. Aequs operates 12 aerospace-focused, fully owned and joint venture units in Belagavi, the United States (Paris, Texas), and France (Cholet). Additionally, it has five more operating units in Karnataka’s Koppal and Hubballi cities, which cater to its non-aerospace businesses.
Aravind Melligeri, Chairman & CEO of Aequs, expressed enthusiasm about the company’s ongoing journey and collaborations, particularly with investors who possess a deep understanding of the Indian capital markets. These partnerships are expected to enhance Aequs’s ability to tap into emerging opportunities resulting from the realignment of global supply chains and their relocation to India.
Over the years, Aequs has made substantial investments in establishing top-tier manufacturing infrastructure and capabilities across various industry verticals. The company is well-positioned to seize the increasing interest from global customers in Indian manufacturing, thanks to its proven track record in precision engineering and significant on-ground capacities.
AMBIT Private Ltd. played a key role as the exclusive investment banker for this transaction.
About Aequs Private Limited:
Founded in 2006, Aequs has grown into a diverse contract manufacturing company, offering vertically integrated product solutions across multiple industries, including aerospace, toys, and consumer durable goods. By leveraging its manufacturing ecosystems, Aequs delivers supply chain efficiencies to its global customer base. The company currently operates manufacturing facilities in India, France, and the United States of America, employing a workforce of over 4,000.
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