Saturday, September 01, 2018

Indian aerospace component maker looks for private equity funding

Bengaluru: Aequs, an aerospace components maker and supplier of parts for the oil and gas industry, is looking at private equity partnerships to raise funds for expansion and plans to go public in the near future, said Aravind Melligeri, chairman and CEO.

“We are always looking at our position in the market and options to continue to increase the value to our business,” Mr. Melligeri said in an e-mail interview.

“This can involve private equity partnerships, which we have done in the other company I co-founded, QuEST Global Engineering. Of course, public listing may one day be considered,” he said.

India’s defence expenditure has increased at a CAGR of 9.7% from 2008-2016, reaching $42.83 billion in the fiscal year ended March 2018. The cumulative capital budget till the end of the 12th to 14th Five Year Plan (2012- 2027) for the Indian Air Force (IAF) is projected to be approximately $218 billion, out of which 69% is towards the acquisition of aircraft and aero engines, according to a report by the Confederation of Indian Industry.
31/08/18 Jay Shankar/The Hindu
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