Aequs Limited has signed a non-binding Memorandum of Understanding (MoU) with the Government of Karnataka to facilitate the expansion of its manufacturing facilities. The agreement, dated March 26, 2026, aims to enhance operations in the Aequs Special Economic Zone in Belagavi and the Hubballi Durable Goods Cluster in Itigatti and Gamanagatti Industrial Area, Hubballi.
The MoU outlines a proposed cumulative investment of approximately ₹2,856 crore over five years, starting from FY 2026. This investment includes both existing and new capital infusions aimed at boosting the production of aerospace precision engineering products and enclosures for consumer electronic products.
The partnership with the Karnataka government is expected to secure priority in obtaining necessary approvals, permissions, and utility allocations, alongside financial incentives and concessional charges. This strategic collaboration is designed to ensure better coordination between various governmental departments, thereby facilitating smoother project execution.
The Government of Karnataka will provide the required facilitation and support for obtaining permissions, registrations, approvals, clearances, and incentives from the relevant state departments, in line with the state’s prevailing policies and regulations.
This initiative marks a significant step for Aequs in expanding its manufacturing capabilities in India, leveraging governmental support to enhance its operational footprint in key industrial zones.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).