Aequs Limited has signed a strategic non-binding Memorandum of Understanding with the Government of Karnataka on March 26, 2026, marking a significant step in the company's manufacturing expansion plans. The agreement encompasses the proposed expansion of manufacturing facilities across multiple locations in Karnataka, demonstrating the company's commitment to strengthening its operational footprint in the state.

Investment and Timeline Details

The comprehensive expansion plan involves substantial financial commitment and strategic positioning across key industrial areas in Karnataka.

Manufacturing Facilities and Locations

The expansion strategy focuses on two primary manufacturing hubs, each targeting specific product segments to maximize operational efficiency and market reach.

Aequs Special Economic Zone, Belagavi

The Belagavi facility will concentrate on manufacturing aerospace precision engineering products, leveraging the company's expertise in high-precision manufacturing. This location will serve as a key hub for aerospace components, supporting both domestic and international markets.

Hubballi Durable Goods Cluster

The Hubballi facilities, located in Itigatti and Gamanagatti Industrial Area, will focus on manufacturing enclosures for consumer electronic products. This strategic positioning allows the company to tap into the growing consumer electronics market while benefiting from the industrial cluster advantages.

Government Support and Facilitation

The MOU establishes a framework for comprehensive government support to facilitate the expansion process. The Government of Karnataka has committed to providing facilitation and support in obtaining necessary permissions, registrations, approvals, clearances, and incentives from concerned state departments. This support will be provided as per the prevailing policies, rules, and regulations of the State Government.

Strategic Benefits and Rationale

The partnership with Karnataka's industrial department offers several strategic advantages for Aequs Limited:

• Priority access to approvals, permissions, and utility allocation
• Enhanced coordination between government departments
• Access to financial incentives and concessional charges
• Streamlined regulatory processes for faster project implementation

The expansion aligns with Aequs Limited's growth strategy in aerospace precision engineering and consumer electronics manufacturing, positioning the company to capitalize on increasing demand in both sectors while strengthening its manufacturing capabilities in Karnataka.

Aequs Limited has announced the resignation of its Chief Financial Officer, Mr. Dinesh Iyer, who will step down from his role effective June 30, 2026. The resignation was formally submitted on March 24, 2026, citing personal reasons as the primary factor behind the decision.

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations by filing the necessary intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to both the National Stock Exchange of India Limited and BSE Limited, ensuring compliance with listing requirements.

Transition and Handover Process

In his resignation letter addressed to the Board of Directors, Mr. Iyer confirmed that there are no material reasons for his resignation beyond personal circumstances. He has committed to extending full cooperation during the notice period to ensure a smooth transition and proper handover of his responsibilities.

The outgoing CFO expressed gratitude to the management and Board of Directors for their guidance, support, and trust during his tenure with the company. He acknowledged the privilege of serving Aequs and extended his best wishes for the company's continued success.

Company Information

Aequs Limited, formerly known as Aequs Private Limited, operates with its registered office located at Aequs Tower, Whitefield Main Road, Mahadevapura Post, Bengaluru. The company maintains its corporate office at Aequs SEZ in Hattargi Village, Hukkeri Taluk, Belagavi, Karnataka. The regulatory filing was signed by Company Secretary and Compliance Officer Ravi Mallikarjun Hugar.