Aequs Executes First Tranche Investment in UAV Joint Venture Ajna Aerospace

Aequs Limited signed a Letter of Subscription (LOS) on February 27, 2026, for its initial investment tranche in Ajna Aerospace & Defence Private Limited (AADPL), pursuant to January 16, 2026 Joint Venture and Shareholders' Agreements with Accel India VIII (Mauritius) Ltd, Vagus Defence Tech & Aerospace Fund I, and AADPL.

Target Entity Profile

AADPL (CIN: U30400KA2025PTC209996), incorporated October 22, 2025, manufactures Unmanned Aerial Vehicles (UAVs), Unmanned Aircraft Systems (UAS), and autonomous aerial platforms for defense, security, industrial, and civilian applications. Focus includes IP sourcing/licensing, development, manufacturing, assembly, testing, marketing, and sales domestically/internationally.

No historical financials available as a newly incorporated entity.

Investment Details

Securities Subscribed (cash consideration totaling INR 10,01,00,000):

10,000 equity shares (INR 10 face value + INR 90 premium each)

9,91,000 Seed Compulsorily Convertible Preference Shares (INR 10 face value + INR 90 premium each)

Post-subscription, Aequs holds 33.33% on fully diluted basis. Completion targeted by March 31, 2026; no regulatory approvals required.

Strategic Objectives

This inorganic opportunity expands Aequs's aerospace portfolio into UAV technologies, aligning with growth strategies through JV arrangements.

Shares of Aequs Limited was last trading in BSE at Rs. 142.30 as compared to the previous close of Rs. 142.90. The total number of shares traded during the day was 22264 in over 246 trades.

The stock hit an intraday high of Rs. 143.65 and intraday low of 140.95. The net turnover during the day was Rs. 3170234.00.

Source : Equity Bulls

Keywords

Aequs INE947N01017 Aerospace Defense LOS Investment UAV JV