Narayana Murthy's Catamaran, Amansa Capital and others back Aequs in Rs 448 crore fundraise

Precision manufacturing company Aequs Pvt has raised $54 million (Rs 448 crore) in an equity funding round led by Singapore-based Amansa Capital.

Precision manufacturing company Aequs Pvt has raised $54 million (Rs 448 crore) in an equity funding round led by Singapore-based Amansa Capital. Apart from Amansa, global investment firms like Steadview Capital, Catamaran Venture, the family office of Infosys founder NR Narayana Murthy, Sparta Group LLC, the investment office of Desh Deshpande, and other individual investors have also backed the company.

Murthy's wife Sudha Murty and Deshpande's wife Jayashree Deshpande are sisters. The fundraise comes at a time when Deshpande and Jayashree have been promoting an entrepreneurial ecosystem in Karnataka’s Hubballi. Ambit Private Ltd. was the exclusive investment banker for this transaction.

Based out of Belagavi in Karnataka, Aequs, which operates a precision manufacturing platform in Aerospace and other verticals, said it will use the growth capital to launch a new Advanced Technology Products (ATP) vertical that will manufacture high precision components for some world renowned consumer electronic companies.

The latest capital infusion comes months after Aequs had raised Rs 225 crore in April in a funding round led by Amicus Capital.

The increased interest in Aequs is understandable since it is one of the largest Aerospace precision components manufacturers in India, Aequs currently derives almost 100 percent of its revenues from exports.

It supplies precision components and assemblies to most global Aerospace companies such as Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton, and Honeywell.

Aequs has also built an aerospace-focused forgings-to-assembly manufacturing ecosystem in India’s first Aerospace special economic zone (SEZ) in Karnataka’s Belagavi.

With over 1.2 million machining hours per year at its campus, Aequs operates the largest aerospace machining capacity in India.

Apart from operating 12 aerospace-focused, fully owned and JV units in (Belagavi), US (Texas), and France (Paris, Cholet), Aequs has five more operating units in Karnataka’s Koppal and Hubballi cities, for its non-aerospace businesses.

“We are excited to partner with investors who have a deep understanding of the Indian capital markets, which I believe will bring immense value to Aequs. These partnerships will also help in tapping emerging opportunities due to the realignment of global supply chains and their relocation to India in many instances,” said Aravind Melligeri, chairman & CEO, Aequs.