Latest news with #Aequs
The Hindu
29-07-2025
- Automotive
- The Hindu
SQuAD Forging wins NADCAP certification
SQuAD Forging India Private Limited, a manufacturer of forged components for the aerospace industry, has earned the prestigious NADCAP accreditation for its forging process or metallic material manufacturing. SQuAD is a joint venture company of Aequs Limited, a Belagavi-based company that is a leading producer and processor of complex metallic material. This certification positions SQuAD among a select few forging facilities worldwide to achieve this global standard to date. The Performance Review Institute, U.S., awarded the certification following a rigorous audit. The assessment covered the entire forging value chain, from raw material procurement, billet preparation, heating, coating, tooling and trimming, to inspection, qualification and final shipment. Commenting on the achievement, Executive Chairman and CEO of Aequs Arvind Melligeri said: 'The NADCAP Forging Certification is a strong technical validation of SQuAD's advanced capabilities within the Aequs ecosystem at the Belagavi Aerospace Cluster. It reinforces our ability to deliver a fully vertically integrated solution for finished aerospace components, encompassing forging, precision machining, surface treatment and aerostructure assemblies. This milestone reflects our commitment to meeting the highest global standards while driving efficiency and value across the supply chain.' SQuAD specializes in the forging of small to medium-sized aero-structural parts for engines, landing gear and braking system components in aluminium, steel, titanium or nickel-based alloys. Its facilities at the Belagavi Manufacturing Cluster house a 10,000 tonnes hydraulic press and a 1,200 tonnes screw press and other associated lines to make these components. SQuAD's NADCAP accreditation aligns with its AS9100 accreditation and customer-specific requirements of the global aviation and defense sectors. It paves the way for stronger engagement with key aerospace customers, including Airbus, Boeing, Safran, while enabling new opportunities with other OEMs and contractors. The certification also entitles SQuAD to appear in the NADCAP Qualified Manufacturers List (QML), a vital reference for aerospace procurement teams seeking suppliers with proven quality assurance capabilities, said a release from Vice-President, Marketing and Communications, Aequs Private Limited, C. Chitti Pantulu.
Time of India
08-07-2025
- Business
- Time of India
Karnataka to push for two defence corridors in meeting with Defence Minister Rajnath Singh
Karnataka Minister for Large and Medium Industries M B Patil on Tuesday said he, along with Chief Minister Siddaramaiah , would meet Defence Minister Rajnath Singh in New Delhi to request the sanctioning of two defence corridor projects for the state. The Chief Minister is scheduled to meet Singh in the national capital on Wednesday evening. "As the country's leading contributor to the aerospace and defence sector, Karnataka deserves two defence corridors-one in the Kolar-Chikkaballapura region and the other in the Hubballi-Belagavi belt . We will present this request during our meeting with Rajnath Singh," Patil said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Speaking to reporters, he said there was a need for one corridor each in south and north Karnataka, pointing out that leading companies such as Aequs already operate in Belagavi. Noting that Karnataka should have been granted a defence corridor when Tamil Nadu and Uttar Pradesh were allotted theirs, Patil said even the central government had realised this oversight, and Rajnath Singh himself had acknowledged it. Live Events He added that the matter was also discussed during Rajnath Singh's participation in the Global Investors Meet-Invest Karnataka 2025. "We are not against projects being sanctioned for other states. We are only demanding what Karnataka rightfully deserves," he said. Patil also mentioned that the Chairman of Hindustan Aeronautics Limited ( HAL ) had recently met him and assured government support for land requirements. Highlighting Karnataka's 65 per cent contribution to the country's aerospace and defence sector, Patil said the state ranks first nationally and third globally in this domain. "The state is home to major players such as HAL, Safran, Boeing, Airbus, Collins, and Lockheed Martin. We already have an aerospace park near the Devanahalli airport. To further strengthen our position, the government now proposes another aerospace and defence park nearby. Farmers who lose their land will be compensated under the Land Acquisition Act, 2013," he said. Farmer representatives and organisations have been protesting against the Karnataka Industrial Areas Development Board's (KIADB) notification for acquiring fertile land in Devanahalli for the proposed park. CM Siddaramaiah will meet the farmers' representatives on July 15 to clarify the government's stand. He had recently cited legal constraints, as the final notification for acquisition had already been issued. In response to a question, Patil urged actor Prakash Raj to raise his voice against land acquisition in other states as well, just as he has done in Karnataka over the Devanahalli project. "Here in Devanahalli, the government plans to acquire just 1,282 acres for the proposed hi-tech aerospace and defence park. In contrast, neighbouring Andhra Pradesh has acquired 10,000 acres from Madakasira to Penukonda for a similar project and is offering the land free of cost," he said. Additionally, he said the Chandrababu Naidu-led Andhra Pradesh government has acquired another 45,000 acres for industrial use. "It's been widely reported that Andhra Pradesh has allotted land to companies such as Infosys , Cognizant, and TCS at just 99 paise per acre. Does Prakash Raj not see these developments?" he asked. Patil further noted that the Tamil Nadu government has been actively expanding industries in Hosur, just 50 km from Bengaluru, and also plans to build an international airport there. For such projects, land is being allotted at highly subsidised rates. If Andhra succeeds in attracting the aerospace and defence park, companies in this sector may shift operations there, resulting in massive losses for Karnataka, he warned. Clarifying his remarks, Patil said he "held no personal grudge" against Prakash Raj.
The Hindu
04-06-2025
- Business
- The Hindu
Aequs files for an IPO on a confidential basis
Aequs Limited, Belagavi-based aerospace company, has decided to issue an Initial Public Offer on a confidential basis. A pre-filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) on a confidential basis has been filled with the stock markets regulator, SEBI, and stock exchanges. It was announced on Tuesday. (June 3, 2025). The Board of Directors of Aequs Ltd. recently passed a resolution for approval to change its status to a public company and rename it from 'Aequs Private Limited' to 'Aequs Limited', as per its regulatory filing. The company is reportedly planning to launch an IPO worth $200 million, as per sources and past media reports. The offer will comprise both a fresh issue of equity shares and an offer for sale (OFS) component, according to company's regulatory filings. The company declined to comment. The book running leading managers to the IPO reportedly are Kotak Mahindra Capital, JM Financial and IIFL Capital. Aequs had received significant equity infusion over the years from its promoters to scale operations of the company. Additionally, it has attracted global investors such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N. R. Narayana Murthy), Sparta Group and the investment office of Desh Deshpande, as per publicly available information. The total income of the company was around Rs. 988 crore in FY24 and the total operating income was Rs. 970 crore in FY24. The company derives financial flexibility from continued promoter's support, the report said. ,p Aequs runs manufacturing operations across three countries – India, France, and the USA, to provide supply chain efficiencies to its global customer base in multiple industry verticals. Further, it operates three manufacturing clusters (Belgavi, Hubballi & Koppal) in Karnataka, India. Media reports mentioned that Aequs along with Tata Electronics, Motherson Group & Jabil are now producing mechanical components for Apple products. This is the only manufacturing facility outside of the Americas for Tramontina. Apart from making products for Tramontina worldwide, said a release.
Time of India
03-06-2025
- Business
- Time of India
Aequs files IPO papers via confidential filing route; seeks to raise up to $200 million
Aequs, a contract manufacturing firm for consumer durable goods and aerospace parts, has filed draft papers with the markets regulator Sebi through a confidential pre-filing route , with an aim to raise around USD 200 million. The offer will comprise both a fresh issue of equity shares and an Offer For Sale (OFS) component. In a pubic announcement on Tuesday, Aequs said it has pre-filed a Draft Red Herring Prospectus (DRHP) for an IPO on a confidential basis with the stock markets regulator Sebi and stock exchanges. Accordingly to people familiar with the development, the company is planning to launch an IPO worth USD 200 million. To manage the offering, the company has appointed Kotak Mahindra Capital, JM Financial and IIFL Capital. Live Events The board of directors of Aequs recently passed a resolution for approval to change its status from a private entity to a public company. Aequs had received significant equity infusion over the years from its promoters to scale up operations. Additionally, it has attracted global investors such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N R Narayana Murthy), Sparta Group and the investment office of Desh Deshpande. Aequs provides a fully vertically integrated, precision manufacturing ecosystem for the aerospace and consumer sectors. It runs manufacturing operations across three countries, India, France, and the USA, to provide supply chain efficiencies to its global customer base in multiple industry verticals. Further, it operates three manufacturing clusters (Belgavi, Hubballi & Koppal) in Karnataka. Founder and CEO Aravind Melligeri has decades of experience in the aerospace segment and has been the co-founder of Quest Global Engineering. On the financial front, the company's total income was around Rs 988 crore in FY24, and the total operating income was Rs 970 crore. Aequs has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the DRHP until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans. Earlier this month, Groww filed its IPO papers through the same route. In recent months, commerce enablement platform Shiprocket, Tata Capital, edtech unicorn PhysicsWallah and Imagine Marketing, the parent company of wearables brand boAt, also chose confidential filings. In 2024, food delivery giant Swiggy and retail chain Vishal Mega Mart floated their IPOs following similar filings. Online hotel aggregator OYO had used this route in 2023 but did not proceed with its IPO. Tata Play, formerly Tata Sky, was the first Indian company to utilise the confidential filing option in December 2022 and received Sebi's observation letter in April 2023, though it later withdrew from the public issue. Market experts note that the confidential pre-filing route offers companies greater flexibility and reduces the pressure to go public quickly. Unlike the traditional route, which requires companies to launch their IPOs within 12 months of receiving Sebi's approval, the pre-filing route extends this window to 18 months from the receipt of final comments. Additionally, firms can modify the primary issue size by up to 50 per cent until the updated DRHP stage. PTI
Economic Times
03-06-2025
- Business
- Economic Times
Aequs files IPO papers via confidential filing route; seeks to raise up to $200 million
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Aequs, a contract manufacturing firm for consumer durable goods and aerospace parts, has filed draft papers with the markets regulator Sebi through a confidential pre-filing route , with an aim to raise around USD 200 offer will comprise both a fresh issue of equity shares and an Offer For Sale (OFS) a pubic announcement on Tuesday, Aequs said it has pre-filed a Draft Red Herring Prospectus (DRHP) for an IPO on a confidential basis with the stock markets regulator Sebi and stock to people familiar with the development, the company is planning to launch an IPO worth USD 200 manage the offering, the company has appointed Kotak Mahindra Capital, JM Financial and IIFL board of directors of Aequs recently passed a resolution for approval to change its status from a private entity to a public had received significant equity infusion over the years from its promoters to scale up operations. Additionally, it has attracted global investors such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N R Narayana Murthy), Sparta Group and the investment office of Desh provides a fully vertically integrated, precision manufacturing ecosystem for the aerospace and consumer sectors. It runs manufacturing operations across three countries, India, France, and the USA, to provide supply chain efficiencies to its global customer base in multiple industry verticals. Further, it operates three manufacturing clusters (Belgavi, Hubballi & Koppal) in and CEO Aravind Melligeri has decades of experience in the aerospace segment and has been the co-founder of Quest Global the financial front, the company's total income was around Rs 988 crore in FY24, and the total operating income was Rs 970 has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the DRHP until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO this month, Groww filed its IPO papers through the same route. In recent months, commerce enablement platform Shiprocket, Tata Capital, edtech unicorn PhysicsWallah and Imagine Marketing, the parent company of wearables brand boAt, also chose confidential filings. In 2024, food delivery giant Swiggy and retail chain Vishal Mega Mart floated their IPOs following similar hotel aggregator OYO had used this route in 2023 but did not proceed with its IPO. Tata Play, formerly Tata Sky, was the first Indian company to utilise the confidential filing option in December 2022 and received Sebi's observation letter in April 2023, though it later withdrew from the public experts note that the confidential pre-filing route offers companies greater flexibility and reduces the pressure to go public quickly. Unlike the traditional route, which requires companies to launch their IPOs within 12 months of receiving Sebi's approval, the pre-filing route extends this window to 18 months from the receipt of final comments. Additionally, firms can modify the primary issue size by up to 50 per cent until the updated DRHP stage. PTI
