Aequs shareholders approve ₹650 crore promoter warrant issue

Aequs shareholders approved the company’s approximately ₹650 crore promoter warrant issue at an extraordinary general meeting on October 22, 2026, according to voting results filed on October 23. The decision supplies the shareholder consent that was still pending when the board approved the financing proposal in September.

The special resolution passed with 98.6831% of votes cast in favour, the company’s filing and accompanying scrutinizer’s report record. It covers a preferential issue of warrants convertible into equity shares to Mellwood Trustee Services Private Limited, trustee of the Melligeri Private Family Foundation, a promoter of Aequs.

Under the September 25 board terms, the issue comprises up to 28,071,690 warrants priced at ₹231.55 each. A minimum ₹325 crore is payable at subscription and allotment, with the balance due when the warrants are exercised. The company’s September release sets December 31, 2027 as the deadline for conversion into shares.

Aequs stated that the proceeds would support capacity expansion across aerospace and consumer manufacturing, including its Hosur facility, investments in subsidiaries and joint ventures, and general corporate purposes. That release does not disclose a separate allocation to space manufacturing.

The Indian manufacturer has a corporate office in Belagavi, Karnataka. Its assembly business lists domestic Indian Space Research Organisation programmes among its activities; The Economic Times documented its acquisition of satellite and spacecraft component maker Simulations Design in February 2015.

Update to our September 26 report: the earlier financing proposal awaited the October 22 shareholder vote. The newly filed results establish that approval; the October 23 voting disclosure does not report warrant allotment or receipt of the subscription money.