Aequs Garners Rs 414 Crore From Anchor Investors Ahead Of IPO
Smallcap World Fund INC got the highest allocation of 12.08% or nearly 40 lakh shares.
(Photo: company website)
Aequs Ltd. has raised Rs 413.9 crore from anchor investors on Tuesday, ahead of its initial public offering (IPO). The company allotted 3.33 equity shares at Rs 124 per equity share to 33 anchor investors.
Smallcap World Fund INC got the highest allocation of 12.08% or nearly 40 lakh shares. While ICICI Prudential Innovation Fund got the second highest allotment of 9.66% or close to 32 lakh shares, at the third place there was SBI MNC fund with an allotment of 7.25% or approximately 24 lakh shares.
Ten domestic mutual funds have applied through 18 schemes, the manufacturing company said in an exchange filing on Tuesday. They have collectively netted 56.70% of the anchor portion.
SBI MNC fund, HDFC mutual fund, ICICI Mutual Fund, Axis Mutual Fund, Motilal Oswal Mutual Fund, BlackRock Global Funds, Bank of India Mutual Fund, Steadview Capital, Citigroup, Societe Generale were among the major fund houses in this category.
JM Financial Limited, IIFL Capital Services Limited, Kotak Mahindra Capital Company Limited are the book running lead managers to the issue.
About Aequs IPO
The Aequs IPO will open for bidding on Dec. 3 and close on Dec. 5. It contains a fresh issue worth up to Rs 670 crore and an offer for sale of over two crore shares of face value of Rs 10 apiece.
Price band for the IPO has been set at Rs 118 - Rs 124 per share, according to the company statement. The equity shares are proposed to be listed on the National Stock Exchange of India Ltd. and BSE Ltd.
Melligeri Private Family Foundation is the only promoter of the company offloading shares in the offer for sale. The other investors selling stake include Amicus Capital Pvt. Equity I LLP, Amicus Capital Partners India Fund II, Amicus Capital Partners India Fund I and Ravindra Mariwala.
Proceeds from the IPO fresh issue worth Rs 433 crore will be used for repayment or prepayment of certain outstanding borrowings and prepayment of penalties. As on Oct. 31, 2025, the aggregate outstanding borrowings stood at Rs 631 crore.
The company will use Rs 64 crore to purchase machinery and equipment, while the remaining funds will be used to fund inorganic growth through unidentified acquisitions and other general corporate purposes.
