Aequs Limited has announced a further investment in its joint venture, Aequs Cookware Private Limited (ACPL), through a rights issue. The company subscribed to 18,16,761 equity shares at a price of ₹51.19 per share, resulting in a total investment of ₹9,29,99,995.59. The transaction was approved by the Audit Committee on March 18, 2026, and was conducted on an arm's length basis.

Investment Details

The investment is part of the utilization of the IPO proceeds as specified in the prospectus of Aequs Limited dated December 5, 2025. The funds will be utilized by ACPL for its operational requirements and for other general corporate purposes. ACPL is in the business of manufacturing cookware appliances, kitchenware appliances, and all types of cooking utensils.

Financials of Aequs Cookware

ACPL reported an audited turnover of ₹16 Crore and a loss after tax of ₹5.57 Crore as on March 31, 2025. The net worth of the entity stood at ₹4.87 Crore. The joint venture was incorporated on June 20, 2024, and operates solely in India.

Shareholding and Background

There will be no change in the percentage of shareholding of Aequs Limited in ACPL following this investment. The company will continue to hold 50% of the share capital, maintaining ACPL as a joint venture. The consolidated total income for ACPL was ₹16 Crore in FY 2024-25, compared to nil in the previous two financial years.

The Aequs group and the Indian Institute of Technology Dharwad (IIT-D) have jointly established an advanced research and development ecosystem for materials science and manufacturing innovation at the IIT-D campus. The collaboration, announced on May 15, 2026, from Dharwad, Karnataka, represents a significant step in deepening industry-academia engagement within India's precision manufacturing landscape.

Facility Capabilities and Objectives

The newly operationalized facility is equipped to support a range of advanced scientific and industrial functions. Key capabilities of the R&D ecosystem include:

• Advanced material characterization
• Failure analysis
• Manufacturing process simulation and optimization
• Enabling deeper industry-academia collaboration in precision-driven manufacturing domains

The initiative lays the foundation for a dedicated "IIT Dharwad – Aequs Research and Development Center" to be established in the coming days, aimed at accelerating applied research, fostering innovation, and bridging the gap between laboratory science and industrial application.

Leadership Perspectives

Senior leadership from both organizations highlighted the strategic significance of the partnership.

Melligeri further noted that the collaboration will enhance IIT Dharwad's applied research capabilities and industry engagement, while enabling Aequs to deliver cutting-edge products to its customers. Prof. Desai described the initiative as "a model for deep academia-industry integration in emerging areas of materials science and advanced manufacturing," emphasizing the direct exposure it provides to students and researchers facing real-world manufacturing challenges.

Impact on Manufacturing Quality and Training

The center is enabling detailed insights into material behavior and failure mechanisms, contributing to measurable improvements across critical manufacturing parameters:

• Improved product quality
• Enhanced reliability
• Reduced failure rates
• More efficient manufacturing processes

These outcomes are particularly significant for high-precision industries where material performance is critical. Beyond research, the facility is actively conducting hands-on training programs for engineers, researchers, and students, strengthening capabilities in advanced analysis of metals and non-metals.

Operational Support and Oversight

Aequs continues to support the center through technical assessments, equipment performance monitoring, and maintenance oversight, ensuring high standards of scientific rigor and operational excellence. This ongoing involvement underscores the company's commitment to sustaining the quality and relevance of the research conducted at the facility.

Aequs is a vertically integrated precision component manufacturer with capabilities across the aerospace and consumer sectors, operating through engineering-led manufacturing ecosystems for global OEM customers. IIT Dharwad is one of India's premier institutions for engineering education and research, committed to advancing innovation, scientific discovery, and industry collaboration across key technology domains.