Belagavi-based aerospace components manufacturer Aequs Pvt Ltd on Monday said it has secured $54 million (Rs 448 crore) in an equity funding round led by Singapore-based Amansa Capital.
The round also saw participation from Steadview Capital, Catamaran, the family office of Infosys founder N. R, Narayana Murthy, Sparta Group and the investment office of Desh Deshpande amongst others.
Aequs’ latest fundraise comes in over six months after it raised Rs 225 crore from mid-market private equity firm Amicus Capital in April.
Notably, Amicus Capital also participated in the current round through its affiliates, the company said in a statement.
Ambit Pvt Ltd. was the exclusive financial advisor for this transaction.
The fresh capital utilised to fund Aequs’ entry into new advanced technology products vertical and to fund its existing operations.
“These partnerships will also help us in tapping emerging opportunities due to the realignment of global supply chains and their relocation to India in many instances,” said Aravind Melligeri, chairman and chief executive officer, Aequs, while commenting on the funding round.
Founded in 2006, Aequs operates a precision manufacturing platform in aerospace and other verticals. It specializes in precision machining, forging, sheet metal fabrication, aero-structure assemblies and special processing for the aerospace and allied industries.
In terms of its clientele, the company counts aerospace companies such as Airbus, Boeing, Bombardier, Safran, Collins, Spirit, Eaton, and Honeywell, amongst others as part of its portfolio. The company currently employs a workforce of over 4,000.
It operates an aerospace special economic zone (SEZ) at Belagavi. Additionally, apart from twelve aerospace-focused units in Belagavi, US, and France Aequs has five more operating units in Karnataka’s Koppal and Hubballi, for its non-aerospace businesses.
In FY22, the company managed to clock Rs 529 crore in net sales, while its earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Rs 20 crore, according to VCCEdge, the data research platform of VCCircle.
Meanwhile, Amansa Capital is a Singapore-based investment firm, which counts startups like meat brand Licious and insurtech startup Turtlemint amongst others, as part of its portfolio. In May, VCCircle reported that the firm invested Rs 150 crore in non-banking lender SBFC Finance in a pre-IPO funding round.