Belagavi, January 17, 2026: Aequs Limited has executed definitive agreements to form a new joint venture focused on unmanned aerial vehicles, marking its entry into UAV intellectual property development and manufacturing across domestic and international markets.
The agreements were signed on January 16, 2026, with Accel India VIII (Mauritius) Ltd and Vagus Defence Tech & Aerospace Fund I. The joint venture entity will operate as Ajna Aerospace & Defence Private Limited.
Focus on UAV IP and End-to-End Manufacturing
The newly formed venture will undertake sourcing, acquisition and licensing of UAV-related intellectual property from overseas licensors, alongside the development of proprietary IP. The scope also includes manufacturing, assembly, testing, marketing and sale of UAVs and related products in India and overseas markets, in line with applicable laws.Equal Shareholding and Governance Structure
Aequs, Accel and Vagus will hold equal ownership in the joint venture. Each partner will have the right to nominate one director to the board of the JV company. Certain strategic and operational matters will require unanimous approval of all three shareholders. The agreements also provide for rights of first offer and first refusal among the partners.Share Issuance to Follow Separately
No equity has been issued under the executed agreements. Shares will be issued and allotted to the three partners under a separate share subscription agreement proposed to be executed at a later date.Transaction Details
| Particulars | Details |
|---|---|
| JV entity | Ajna Aerospace & Defence Private Limited |
| Partners | Aequs Limited, Accel India VIII (Mauritius) Ltd, Vagus Defence Tech & Aerospace Fund I |
| Date of execution | January 16, 2026 |
| Ownership structure | Equal shareholding among three partners |
| Board representation | One nominee director each |
| Current shareholding | Nil as of date of execution |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.