Aequs Ltd.'s initial public offering will hit Dalal Street in the first week of December. The company submitted its red herring prospectus with the market regulator SEBI on Thursday.
The 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 2 crore shares of face value of Rs 10 apiece.
The price band and minimum lot size details of Aequs IPO will be disclosed via a public advertisement on Friday.
The company will seek investments from large institutions via the pre-IPO anchor round on Dec. 2.
Melligeri Private Family Foundation is the only promoter of the company offloading shares in the offer for sale. The other investors selling stake include domestic private equity firm Amicus Capital and Ravindra Mariwala.
Aequs will list on the NSE and BSE on Dec. 10.
About Aequs
Bengaluru-based Aequs is a manufacturer of aero-structure components and aero-engine components. The product portfolio includes components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for clients including Airbus, Boeing, Bombardier, Collins Aerospace, Spirit Aerosystems and Safran.
"We are one of the few manufacturers in India with niche metallurgy capabilities, specialiSing in precision machining of high-end alloys, including titanium alloys for our aerospace clients," the RHP said.
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.
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.
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