Corporate actions28 Sep 2026 · Fri
AEQUSAequs
Board approves ₹650 crore warrant issue to a promoter group trust
The promoter entity will pay ₹231.55 per warrant, with half due upfront. Shareholders vote on 22 October.
Price, Friday's close₹246.05▲ 1.34%
Last 5 days
- Sector
- Aerospace
What happened
- Aequs's board approved a preferential issue of 2,80,71,690 warrants to Mellwood Trustee Services, the trustee of the Melligeri Private Family Foundation, which is part of the promoter group.
- The price is ₹231.55 per warrant (₹10 face value plus a ₹221.55 premium), or about ₹650 crore in total.
- Half, about ₹325 crore, is payable when the warrants are allotted and the rest when they are converted into shares. The warrants can be exercised within 18 months of allotment, and conversion must be completed by 31 December 2027.
- The company plans to use the money to expand capacity in its aerospace and consumer businesses, including its Hosur facility, to invest in subsidiaries and joint ventures, and for general corporate purposes.
- The issue needs shareholders' approval at an extraordinary general meeting on 22 October 2026, as well as other regulatory approvals.
Why it matters
When the warrants are converted, Aequs will issue new shares to the promoter group, raising its stake. Aequs shares closed at ₹246.05 on Friday, compared with the warrant price of ₹231.55.
Good to know: A warrant is a right to buy a company's shares later at a fixed price. In a preferential issue, a company sells securities to chosen investors instead of to the public.
Key facts
- Warrants
- 2,80,71,690
- Price per warrant
- ₹231.55
- Total size
- About ₹650 crore
- Paid upfront
- About ₹325 crore (50%)
- Shareholder vote
- EGM, 22 Oct 2026
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