Aravind S. Melligeri, Executive Chairman and CEO, Aequs Limited.
Aravind S. Melligeri of Aequs Limited, a Belagavi-based manufacturer of engine systems, landing systems and cargo and interior systems for global aerospace OEMs such as Airbus, Boeing, Safran and Collins Aerospace, said India requires more aerospace systems and equipment firms as the global market for these systems is huge.
Mr. Melligeri, who is the Executive Chairman and CEO of Aegus, told The Hindu, “We currently touch/manufacture 5,000 aircraft parts, with each aircraft having 20,000-30,000 different machine parts. This represents a huge market opportunity for us. India needs 10 more Aequs-type companies.”
Mr Melligeri said India must ultimately focus on building a national aircraft. “We have the expertise to do it,” he said on the sidelines of the company’s IPO announcement here on Tuesday.
Airbus is Aequs’ majority customer and supplies several components to the plane maker, while Boeing, which came on board through an earlier acquisition in the US, currently accounts for 15% of the business, but Mr Melligeri says it is a growing part along with all other customers and industries.
He said the aerospace industry grew between 2003 and 2020 without any down cycle, and industries typically see that. However, the pandemic hit it hard and yet the market grew again in 2021.
Geopolitical challenges
However, geopolitical challenges such as the Russo-Ukraine war have adversely affected the growth of the Indian aerospace manufacturing sector. “Such challenges put pressure on the supply chain, for example titanium supplies from Russia have been under pressure and the US has also said it will not buy from Russia.”
We should have a mechanism to overcome these global supply challenges, especially when the aerospace industry is global and everyone wants to see planes fly, Mr. Melligeri noted, noting that businesses in Europe did not face titanium shortages because they were not subject to any restrictions on purchasing from Russia.
Consumer electronics
Aequs has also invested ₹600 crore in the consumer electronics business in the last 24 months at Hubballi to make laptop components, smart devices and multi-purpose wearables, he said.
Aequs’ initial public offering (IPO), which is scheduled to open on Wednesday, includes a fresh issue of shares totaling up to ₹670 crore and an offer for sale of up to 2,03,07,393 shares of a par value of ₹10 each. The price band of the offer was fixed at ₹ 118 to ₹ 124 per share.
On the allocation of proceeds, Mr Melligeri said: “We will invest ₹70 crore in the aerospace industry, ₹430 crore will go towards repayment of existing loans and the balance will be retained for general corporate purposes as well as to fund expansion and start new joint ventures.”
Published – 02 Dec 2025 22:08 IST
