Aequs Ltd Enters Joint Venture with Accel India VIII, Vagus Defence Tech & Aerospace Fund I, and Ajna Aerospace & Defence

Aequs Limited has executed a Joint Venture Agreement and Shareholders Agreement with Accel India VIII (Mauritius) Ltd, Vagus Defence Tech & Aerospace Fund I, and Ajna Aerospace & Defence Private Limited. The joint venture aims to source, acquire, license intellectual property rights for unmanned aerial vehicles from overseas licensors and owners, develop and manufacture, assemble, test, market and sell unmanned aerial vehicles ('UAVs') and related products in India and internationally. Aequs, Accel and Vagus will have equal shareholding in the JV Company and will have special rights such as right to appoint directors, first right of refusal, and right of first offer in case of issuance of shares. This is not a related party transaction.