Aggcon Equipment Files DRHP To Raise Funds Through IPO
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.
Aggcon Equipment Ltd. filed its preliminary papers with capital markets regulator SEBI on Thursday to raise funds via an initial public offering.
The public offer will include mix of fresh issues of shares worth Rs 32.04 crore and an offer-for-sale up to 54 lakh 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 66.4 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.
Jitendra Aggarwal and Renu Aggarwal are the promoters of the company offloading shares in the offer for sale.
Motilal Oswal Investment Advisors Ltd. is the book-running lead managers for the issue and MUFG Intime India Pvt. will be the registrar of the issue.
Proceeds from the fresh issue worth Rs 168 crore will be used for repayment or partial prepayment of certain outstanding borrowings and Rs 84.03 crore will be used for capital expenditure towards purchase of equipment and general corporate purpose.
The Haryana-based company is an infrastructure equipment company with over 22 years of experience. Its portfolio of equipment leasing services consisting of 337 fleets as on March 31, 2025, and having an average age of 2.91 years, spans across critical industries, including road construction, railways, waterways, power, earthmoving, and construction.
The company is working with major infrastructure sector companies in India. Additionally, it is one of the few players which only does rental services for construction equipment.
Aggcon Equipments' revenue from operations increased by 19.47% from Rs 137.29 crore in fiscal 2024 to Rs 164.02 crore in fiscal 2025, primarily due to an increase in the rental and freight income. Profit for the year increased by 35.64% from Rs 22.64 crore in fiscal 2024 to Rs 30.71 crore in fiscal 2025 primarily due to increase in total income and efficiency in expenses.
