Aequs Limited saw its promoter, Melligeri Private Family Foundation, release a pledge on 1,00,51,307 equity shares on October 8, 2026. The move was executed to enable the company to complete certain regulatory requirements.

The disclosure was made under Regulation 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The foundation holds these shares through Mellwood Trustee Services Private Limited. The company stated that the release of the pledge is for a temporary short period.

Shareholding details

The promoter entity holds 14.99% of the total share capital of Aequs. Following the release of the encumbrance, the entire holding is now unencumbered. The table below outlines the specific changes in the promoter's pledged status.

Lock-in period context

It is important to note that out of the 1,00,51,307 equity shares held by the promoter, 1,00,43,807 shares remain locked in for a period of 12 months pursuant to the company's Initial Public Offering (IPO). This lock-in restriction remains in effect despite the release of the financial pledge.

The filing was submitted to both the National Stock Exchange of India and BSE Limited. Ravi Mallikarjun Hugar, Company Secretary and Compliance Officer, signed the disclosure on October 9, 2026.

Aequs Limited has made a further investment of ₹15.75 crore in Ajna Aerospace & Defence Private Limited (AADPL), a joint venture of the company. The investment was executed through the allotment of 45,00,000 partly paid-up equity shares on a rights basis.

The transaction falls under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. AADPL allotted the shares at an issue price of ₹100 per equity share. Out of this total price, Aequs paid ₹35 per share, aggregating to the stated investment amount of ₹15.75 crore as application money.

Payment structure and future obligations

The shares allotted are partly paid-up, implying that the full issue price has not yet been discharged. The remaining balance of ₹65 per equity share, which constitutes 65% of the issue price, remains payable by Aequs. This outstanding amount is subject to one or more subsequent calls to be made by AADPL within 12 months from the date of allotment, October 9, 2026.

Strategic focus and entity profile

AADPL operates in the manufacturing sector, specifically focusing on Unmanned Aerial Vehicles (UAVs), Unmanned Aircraft Systems (UAS), and other autonomous or remotely operated aerial platforms. The company’s scope includes related subsystems, components, payloads, software, hardware, and accessories for defence, security, industrial, and civilian applications.

Incorporated on October 22, 2025, AADPL is a newly formed entity established to source and license intellectual property rights for UAVs from overseas licensors, develop proprietary IP, and manufacture and sell these systems in India and internationally. The company reported a turnover of ₹0.02 crore and a loss after tax of ₹0.99 crore for the financial year ending March 31, 2026.

What the numbers show

The investment highlights a significant capital commitment to an early-stage venture with minimal current revenue generation. While AADPL recorded a net worth of ₹28.84 crore as of March 31, 2026, its operational scale remains nascent, evidenced by the negligible turnover of ₹0.02 crore against a loss of ₹0.99 crore. The structure of the deal, where only 35% of the issue price is paid upfront, indicates a phased funding approach typical for startups requiring sustained capital infusion over time rather than immediate lump-sum deployment.