IDBI Capital Exits Two Deep-Tech Defence Firms, Significance for Maharashtra Venture Fund

IDBI Capital Markets & Securities Limited (ICMS), which manages the Maharashtra Defence and Aerospace Venture Fund (MDAVF), has announced successful exits from two of its portfolio companies: Sagar Defence Engineering Pvt. Ltd. and Zeus Numerix Pvt. Ltd. Both exits delivered strong internal rates of return and underscore MDAVF’s role in fostering technological innovation and self-reliance within India's defence and aerospace sectors. MDAVF, a SEBI-registered Category II Alternative Investment Fund, has invested approximately ₹415 crore in 23 micro, small, and medium-sized enterprises (MSMEs) in these fields. Sagar Defence Engineering is recognized for its Unmanned Marine Surface Vehicle (UMSV), an autonomous system enabling real-time ocean data collection and communication, supporting maritime security. Zeus Numerix, originating from IIT Bombay, specializes in advanced engineering simulation technologies and supports key Indian institutions like DRDO, ISRO, and BARC. These exits reflect the fund’s ongoing commitment to the Atmanirbhar Bharat vision by backing high-potential ventures that strengthen indigenous capabilities.