Precision Manufacturer Aequs Raises Rs 448 Cr In Funding Round Led By Amansa Capital
Aequs, a precision manufacturing company, has raised Rs 448 crore (approximately USD 54 million) in a recent equity funding round. The funding effort was led by Singapore-based Amansa Capital.
The funding round saw participation from notable investors, including Steadview Capital, Catamaran (the family office of Infosys founder N R Narayana Murthy) and Sparta Group LLC (the investment office of Desh Deshpande), along with several individual investors. This follows a previous funding round in April 2023, where Aequs secured Rs 225 crore with the support of Amicus Capital.
Aequs, known for its precision manufacturing operations primarily in the aerospace industry, is now set to embark on a new venture in the Advanced Technology Products (ATP) vertical. The funding will play a pivotal role in facilitating this expansion, as Aequs aims to produce high-precision components catering to globally renowned consumer electronics companies.
The company currently holds the distinction of being the largest aerospace precision components manufacturer in India. It relies heavily on exports, with approximately 100 per cent of its revenue originating from international markets. Aequs supplies precision components and assemblies to some of the most prominent global aerospace entities, including Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton and Honeywell.
In a statement, Aravind Melligeri, Chairman and 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.”
Aequs has gained international recognition for its aerospace-focused forgings-to-assembly integrated manufacturing ecosystem, primarily located in India's first Aerospace Special Economic Zone (SEZ) in Belagavi, Karnataka.
With over 1.2 million machining hours annually, Aequs operates the largest aerospace machining capacity in India. The company also extends its reach across multiple locations, with fully owned and joint venture units in Belagavi, the United States (Paris, Texas), and France (Cholet). In addition to these, Aequs operates five more units in Karnataka, specifically in Koppal and Hubballi, to cater to its non-aerospace business endeavors.
