Aequs Boosts Stake in Ajna Aerospace Joint Venture with INR 15.75 Crore Investment

INR 15.75 crore total paid capital infusion for 4.5 million partly paid-up shares.
INR 65 per share remains payable within 12 months for general corporate and operational requirements.

Reader Takeaway: Continued financial backing for AADPL aids UAV product development but adds future capital commitment obligations.

What just happened

Aequs Limited has executed a rights issue participation in its joint venture, Ajna Aerospace & Defence Private Limited (AADPL). The company was allotted 45,00,000 partly paid-up equity shares at an issue price of INR 100 per share. Aequs has already paid INR 35 per share, totaling INR 15.75 crore, with the remaining balance of INR 65 per share to be called upon by AADPL within the next year.

Why this matters

This investment reinforces Aequs Limited’s commitment to the high-growth aerospace and defense sector. The joint venture, incorporated in late 2025, focuses on the end-to-end lifecycle of Unmanned Aerial Vehicles (UAVs)—from licensing intellectual property to manufacturing subsystems. The funds are earmarked for both capital and operational expenditure, essentially acting as fuel for the startup phase of the JV.

What changes now

Following this transaction, the shareholding percentage of Aequs Limited in AADPL remains unchanged. The company’s primary obligation shifts to ensuring the remaining capital commitment is met by October 2026, depending on the operational demands of the joint venture.

Context metrics

As of the audit on March 31, 2026, Ajna Aerospace & Defence reported a turnover of INR 0.02 crore, a net worth of INR 28.84 crore, and a loss after tax of INR 0.99 crore. These figures underscore the venture's early-stage status.

What to track next

Investors should watch for updates on the commercialization of AADPL’s UAV products and whether the entity meets its performance milestones, which will dictate the timing of the remaining INR 65 per share capital call.