Aequs Limited Board Approves Amendments to Articles of Association
Aequs Limited's board approved two key amendments to Articles of Association on January 10, 2026: deletion of Part B provisions that were meant to exist only until IPO listing, and insertion of Article 117A granting director nomination rights to shareholders holding at least 26% stake. Both changes require postal ballot approval from shareholders and regulatory clearances.
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Aequs Limited announced that its Board of Directors held a meeting on January 10, 2026, approving significant amendments to the company's Articles of Association in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board considered and approved two major amendments that require shareholder approval through postal ballot.
Key Board Resolutions
The board meeting addressed two primary amendments to strengthen the company's governance framework following its public listing.
| Amendment Type: | Details |
|---|---|
| Part B Deletion: | Removal of Part B from Articles of Association |
| Article 117A Insertion: | Director nomination rights for qualifying shareholders |
| Approval Required: | Postal ballot by shareholders |
| Regulatory Compliance: | Subject to statutory approvals under applicable laws |
Deletion of Part B Articles
The first amendment involves the complete deletion of Part B of the Articles of Association. According to the company's disclosure, Part B was specifically designed to co-exist with Part A only until the commencement of listing and trading of equity shares following the initial public offering on recognized Indian stock exchanges. Since the company's equity shares are now listed, the board determined that Part B provisions are no longer necessary and approved their deletion.
Director Nomination Rights Amendment
The board approved the insertion of Article 117A, which establishes director nomination rights for significant shareholders. This amendment aligns with provisions from the terminated Shareholders' Agreement dated October 12, 2023, and its Amendment Agreement dated May 12, 2025.
Proposed Article 117A Provisions
The new article grants specific rights to qualifying shareholders:
| Parameter: | Requirement |
|---|---|
| Minimum Shareholding: | 26% of Share Capital on Fully Diluted Basis |
| Nomination Right: | One Director on the Board |
| Shareholding Calculation: | Individual or joint with Affiliates |
| Duration: | Until shareholding remains above 26% threshold |
The provision states that any shareholder, individually or jointly with affiliates, holding at least twenty-six percent of the share capital on a fully diluted basis shall have the right, but not obligation, to nominate one director to the board. This right continues as long as the shareholding threshold is maintained.
Regulatory Framework and Next Steps
Both amendments fall under the disclosure requirements of Regulation 30 of SEBI Listing Regulations. The company has provided detailed information in compliance with Schedule III of the Listing Regulations and SEBI Master Circular dated November 11, 2024. The amendments require approval from shareholders through postal ballot and any additional regulatory or statutory approvals as mandated under applicable laws.
The disclosure was signed by Ravi Mallikarjun Hugar, Company Secretary and Compliance Officer, and submitted to both NSE (scrip symbol: AEQUS) and BSE (scrip code: 544634) on January 10, 2026.
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