Aequs Limited has submitted its Monitoring Agency Reports for the quarter ended March 31, 2026, to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The reports, issued by CARE Ratings Limited, cover the utilization of proceeds from both the Pre-Initial Public Offer Placement and the Initial Public Offer. The Monitoring Agency confirmed that there is no material deviation in the utilization of proceeds as stated in the objects of the issue.

Pre-IPO Offer Utilization

The Pre-IPO offer, conducted from November 5, 2025, to November 10, 2025, raised ₹144.0 crore through the issuance of 11,615,713 equity shares. The funds were allocated across four main categories: repayment of borrowings, capital expenditure, funding inorganic growth, and issue expenses. As of March 31, 2026, ₹124.89 crore had been utilized, leaving ₹19.11 crore unutilized.

The unutilized proceeds of ₹19.11 crore are deployed in fixed deposits with Axis Bank (₹5.00 crore), cash credit accounts of subsidiaries including Aequs Toys Private Limited (₹13.41 crore) and Aequs Engineered Plastics Private Limited (₹0.37 crore), and the monitoring account maintained with HDFC Bank (₹0.33 crore).

IPO Proceeds Utilization

The Initial Public Offer, conducted from December 3, 2025, to December 5, 2025, raised ₹670.0 crore through the issuance of 54,047,958 equity shares. The proceeds were allocated towards repayment of borrowings, capital expenditure, funding inorganic growth, and issue expenses. As of March 31, 2026, ₹481.32 crore had been utilized, with ₹188.68 crore remaining unutilized.

The unutilized proceeds of ₹188.68 crore are deployed in fixed deposits created by Aequs Limited with HDFC Bank (₹86.62 crore), by subsidiary ASMIPL with Axis Bank (₹45.62 crore), and by subsidiary ACPPL with HDFC Bank (₹35.00 crore). Additionally, ₹0.59 crore is maintained in the HDFC account of Aequs Toys Private Limited, ₹0.30 crore in the monitoring account, and ₹20.56 crore in the IPO bank account proposed to be used for offer expenses.

Key Implementation Details

The repayment of borrowings for both the company and its subsidiaries has been completed as per the offer document timeline. For capital expenditure, ₹17.09 crore has been utilized for the purchase of CNC and Turnmill Centre machinery from DN Solutions Co. Ltd., Korea, and ACE Designers Limited, India. The company invested ₹0.10 crore in equity and ₹9.91 crore in Compulsorily Convertible Preference Shares of Ajna Aerospace & Defence Private Limited on March 5, 2026, as part of its inorganic growth strategy.

The Monitoring Agency noted that unutilized IPO funds have been parked in subsidiary bank accounts, which the offer document does not explicitly specify. The Board of Directors has taken note of this observation. The reports have been made available on the company's website and can be accessed at https://www.aequs.com/investor/ .

Aequs Limited has submitted its quarterly compliance certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The regulatory filing was made on April 07, 2026, to both the National Stock Exchange of India Limited and BSE Limited, demonstrating the company's adherence to mandatory disclosure requirements.

Regulatory Compliance Details

The certificate was issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, by KFin Technologies Limited, which serves as the Registrar and Share Transfer Agent for Aequs Limited. This quarterly submission is a mandatory requirement for all listed companies to ensure transparency in securities transactions.

Certificate Submission Process

The submission was signed by Ravi Mallikarjun Hugar, Company Secretary and Compliance Officer of Aequs Limited, with membership number A20823. The digital signature was applied on April 07, 2026, at 12:20:29 +05'30', ensuring the authenticity and timeliness of the regulatory filing.

KFin Technologies Limited, through Deputy Vice President Ganesh Chandra Patro, certified that all details of securities dematerialized and rematerialized during the quarter ended March 31, 2026, have been properly furnished to stock exchanges where Aequs Limited shares are listed.

Depository Notifications

Separate certificates were issued to both major depositories in India:

• National Securities Depository Limited (NSDL): Certificate reference KFIN/QGML/NSDL/74(5) E/1 dated April 01, 2026
• Central Depository Services (India) Limited (CDSL): Certificate reference KFIN/QGML/CDSL/74(5) E/1 dated April 01, 2026

Both certificates confirm compliance with SEBI regulations and proper reporting of dematerialization and rematerialization activities during the specified quarter.

Company Information

Aequs Limited, formerly known as Aequs Private Limited, operates with Corporate Identity Number L80302KA2000PLC026760. The company maintains its registered office at Aequs Tower, No. 55, Whitefield Main Road, Mahadevapura Post, Bengaluru - 560048, Karnataka, while its corporate office is located at Aequs SEZ, No. 437/A, Hattargi Village, Hukkeri Taluk, Belagavi – 591243, Karnataka.

This quarterly compliance filing demonstrates Aequs Limited's commitment to maintaining regulatory standards and ensuring transparent reporting of securities transactions to relevant authorities and depositories.