Aequs has made a further investment in Aequs Engineered Plastics (AEPPL), a wholly owned subsidiary of the Company, through a rights issue. AEPPL is engaged in the business of manufacturing of all sorts of plastic products, parts and toys.
The investment involves subscribing to 96,32,117 shares at a price of Rs 10 per equity share, representing a total investment of Rs 9.63 crore. This investment is a part of utilization of the IPO proceeds. These funds will be utilised to repay the Bank Loan and to meet working capital requirements.
Aequs provides a fully vertically integrated, precision manufacturing ecosystem for the aerospace and consumer sectors.