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.