Private Equity

PE Fund Investments

Precision manufacturing co. Aequs raises Rs.448-Cr led by Amansa Capital

Press Release  

Belagavi, Karnataka-based contract manufacturing firm Aequs has raised INR 448 crore (USD 54 million) led by Amansa Capital (a Singapore-based fund that is active in both public and private markets). The round saw participation from Steadview Capital, Catamaran Ventures (the family office of Infosys founder N R Narayana Murthy), Sparta Group LLC (the investment office of Desh Deshpande) and other angel investors. Amicus Capital, which led the previous INR 225 crore investment in April 2023, also participated. Ambit was the exclusive investment banker for the transaction. Founded in 2006 by its Chairman & CEO Aravind Melligeri (who is also the Co-founder and Board Member of outsourced engineering services firm Quest Global), Aequs operates a precision manufacturing platform in Aerospace and other verticals. It has built a aerospace-focused forgings-to-assembly integrated manufacturing ecosystem at India's first Aerospace SEZ in Belagavi. It operates the largest aerospace machining capacity in India of over 1.2 million machining hours per year at this campus. It supplies precision components and assemblies to many global Aerospace companies such as Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton, and Honeywell. Apart from operating 12 aerospace-focused units in (Belagavi), US (Texas), and France (Cholet), Aequs has five more operating units in Karnataka's Koppal and Hubballi cities, for its non-aerospace businesses. Aequs currently derives almost 100% of its revenues from exports. It will use the new funds to launch a new Advanced Technology Products (ATP) vertical to manufacture high precision components for some of the world's renowned consumer electronics companies.