Aequs IPO: Draft Papers Refiled To Raise Rs 720 Crore Via Fresh Issue — Check Details

Aequs Ltd. on Tuesday refiled its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include mix of fresh issues of shares worth Rs 720 crore and an offer-for-sale up to 3.18 crore shares by promoter selling shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 144 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.

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.

JM Financial Ltd., IIFL Capital Services Ltd. and Kotak Mahindra Capital the book-running lead managers for the issue and Kfin Technologies Ltd. will be the registrar of the issue.

Proceeds from the fresh issue worth Rs 419.24 crore will be used for repayment or prepayment of certain outstanding borrowings and prepayment of penalties. The company will use Rs 67.45 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.

The Bengaluru-based company is a manufacturer of aero-structure components and aero-engine components. However, over the years, it has expanded its product portfolio to include consumer electronics, plastics, and consumer durables for consumer clients.

Across its three manufacturing ecosystems in India and two dedicated aerospace facilities outside India, Aequs had an aggregate capacity of 29 lakh annual machining or molding hours for products within the Aerospace Segment and Consumer Segment, and over 200 computer numerical control machines for Aerospace Segment and 161 molding machines deployed for consumer products, each as of March 31, 2025.

The revenue from operations in fiscal 2025 fell 4.2% to Rs 924.61 crore in comparison to Rs 965.07 crore. The loss for the financial year 2025 widened to Rs 102.35 crore from Rs 14.24 crore reported in financial year ended March 2024.