Date: October 09, 2026
Investment / Strategic Actions
Aequs Limited has made a further investment of INR 15,75,00,000 (₹15.75 crore) in Ajna Aerospace & Defence Private Limited (AADPL), a Joint Venture of the Company, through a rights issue.
Ajna Aerospace & Defence Private Limited has allotted 45,00,000 partly paid-up equity shares to Aequs Limited on a rights basis at an issue price of INR 100 per equity share. Out of the total issue price of INR 100 per share, INR 35 per equity share (aggregating to INR 15,75,00,000) has been paid by the Company. The remaining 65% of the issue price (INR 65 per share) shall be paid through one or more subsequent calls to be made by AADPL within 12 months from the date of allotment (October 09, 2026).
There will be no change in the percentage of shareholding of Aequs Limited in AADPL, which will continue to remain as a Joint Venture of the Company.
Target Entity Details
Name: Ajna Aerospace & Defence Private Limited (AADPL)
Industry: Manufacturing of Unmanned Aerial Vehicles (UAVs), Unmanned Aircraft Systems (UAS), and other autonomous or remotely operated aerial platforms, including related subsystems, components, payloads, software, hardware, and accessories for defence, security, industrial, and civilian applications.
Financial Details (as on March 31, 2026, Audited):
- Turnover: INR 0.02 Crore
- Loss after tax: INR 0.99 Crore
- Net worth: INR 28.84 Crore
Background: AADPL was incorporated on October 22, 2025, to carry out the business of: (i) sourcing, acquiring, and licensing intellectual property rights for unmanned aerial vehicles from overseas licensors and owners; (ii) developing own IP; and (iii) manufacturing, assembling, testing, marketing, and selling UAVs and related products in India and internationally.
Geographic Presence: India
Transaction Details
Consideration: Cash
Related Party Status: AADPL is a Joint Venture of Aequs Limited, making this a related party transaction. However, except for the shares held by Aequs Limited and Mr. Rajeev Kaul (Co-Founder & Managing Director of Aequs) serving as Nominee Director in AADPL, the promoter/promoter group/group companies of Aequs Limited have no interest in AADPL. The transaction is conducted at arm's length.
Purpose of Investment: For capital expenditure, operational expenditure, and other general corporate and business requirements of AADPL.
Governmental Approvals: Not Applicable
Time Period for Completion: Not Applicable