<?xml version="1.0" encoding="UTF-8"?>
<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">AEQUS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-07</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_AtTheTimeOfInstitutingScheme"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">AEQUS</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-07</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:StageOfOptionsToPurchaseSecuritiesAsPerSubPara10OfParaBAxis">in-capmkt:AtTheTimeOfInstitutingSchemeMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">AEQUS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Aequs Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">544634</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE947N01017</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Options to purchase securities ESOPS (Sub-para 10-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="MainI">2026-08-07</in-capmkt:DateOfBoardMeeting><in-capmkt:StartTimeOfTheMeeting contextRef="MainI">09:15:00</in-capmkt:StartTimeOfTheMeeting><in-capmkt:EndTimeOfTheMeeting contextRef="MainI">09:45:00</in-capmkt:EndTimeOfTheMeeting><in-capmkt:DateOfReport contextRef="MainI">2026-08-07</in-capmkt:DateOfReport><in-capmkt:StageOfDisclosureOfOptionsToPurchaseSecurities contextRef="I_AtTheTimeOfInstitutingScheme">At the time of instituting the scheme</in-capmkt:StageOfDisclosureOfOptionsToPurchaseSecurities><in-capmkt:BriefDetailsOfOptionsGranted contextRef="I_AtTheTimeOfInstitutingScheme">2,70,000 Options granted pursuant to ESOP 2025 to the eligible employee(s) of the Company.</in-capmkt:BriefDetailsOfOptionsGranted><in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021 contextRef="I_AtTheTimeOfInstitutingScheme">true</in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021><in-capmkt:DetailsOfSharesCoveredByOptions contextRef="I_AtTheTimeOfInstitutingScheme">2,70,000 shares of Rs. 10/- each</in-capmkt:DetailsOfSharesCoveredByOptions><in-capmkt:PricingFormulaForOptions contextRef="I_AtTheTimeOfInstitutingScheme">Exercise price is Rs 239.50 per option.</in-capmkt:PricingFormulaForOptions><in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised contextRef="I_AtTheTimeOfInstitutingScheme">Subject to fulfilment of vesting conditions as per ESOP 2025, options shall be exercised within three (3) years from the date of respective vesting.</in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised><in-capmkt:BriefDetailsOfSignificantTermsOfOptions contextRef="I_AtTheTimeOfInstitutingScheme">Stock Options granted shall have a Vesting period of minimum 1 (One) Year from the date of Grant and all Stock Options granted shall Vest as per the Vesting schedule specified in the grant letter. 

The grant of Stock Options is based upon the eligibility criteria as mentioned in ESOP 2025.

The Stock Options granted, once vested shall entitle the Stock Option holder to acquire equal number of Equity Shares, upon payment of exercise price and applicable taxes in accordance with terms and conditions of the ESOP 2025.</in-capmkt:BriefDetailsOfSignificantTermsOfOptions><in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions contextRef="I_AtTheTimeOfInstitutingScheme">Not Applicable, as this outcome is pertaining to grant of Options under the ESOP 2025.</in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions></xbrli:xbrl>
