Key Details of the MoU

Parties Involved:

  • Melstarr Aviations Tech Private Limited ("MATPL"), a wholly owned subsidiary of Melstar Information Technologies Limited
  • Andhra Pradesh Economic Development Board, Government of Andhra Pradesh ("APEDB")

Execution Date: October 23, 2026

Purpose: To facilitate the establishment of a Maintenance Training Organization in the State of Andhra Pradesh at Orvakal, Kurnool District.

Project Details:

  • Estimated investment: Approximately ₹20 crore
  • Land requirement: 5 acres
  • Location: Orvakal, Kurnool District, Andhra Pradesh
  • Employment generation: Approximately 25 direct employment opportunities and 25 indirect employment opportunities in auxiliary industries

Key Terms and Conditions:

  • The MoU is non-binding in nature and does not confer any legally enforceable rights upon either party
  • Validity period: 12 months from the date of signing (October 23, 2026, to October 22, 2027)
  • MATPL will contribute its strengths in investment, technology, planning, design and equipment for setting up the proposed facility
  • APEDB shall facilitate and promote investment in Andhra Pradesh, including assistance in discussions with the Union Government where required
  • Actual allotment of land, incentives and other benefits shall be subject to prescribed processes, applicable government policies, rules and regulations, and requisite approvals
  • Where tender or competitive bidding process is applicable, MATPL shall be required to participate in such process
  • APEDB shall not be involved in tender or competitive bidding processes and shall not be liable for the same
  • The MoU contains confidentiality and non-disclosure provisions
  • The MoU may be amended by mutual written agreement of the parties
  • No special rights relating to appointment of directors, subscription to shares, or restriction on changes in capital structure

Relationship Status:

  • MATPL is a wholly owned subsidiary of Melstar Information Technologies Limited and therefore a group company
  • APEDB is not related to the promoter or promoter group
  • The MoU does not constitute a related-party transaction

Regulatory Compliance:

  • Disclosure made under Regulation 30 of SEBI Listing Regulations
  • Reference to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Financial Impact: The proposed investment of ₹20 crore is not a legally enforceable commitment under the non-binding MoU. Actual financial impact will be subject to future approvals and processes.