Aequs board approved ₹650 crore preferential warrant issue to promoter trust

Aequs Limited, a Belagavi-based precision manufacturer, approved a preferential issue of up to 2,80,71,690 warrants (convertible into equity shares) to Mellwood Trustee Services Pvt. Ltd. (trustee of the Melligeri Private Family Foundation) for about ₹650 crore, according to a company communication. The issue is stated to be subject to shareholders’ approval and other statutory/regulatory approvals; proceeds are intended to fund aerospace and consumer capacity expansion including development of its Hosur facility, plus general corporate purposes and supporting borrowing for expansion.