Aequs, a contract manufacturing company, announced on Tuesday that it has secured INR 414 crore from anchor investors ahead of its IPO. The company allotted 3.34 crore shares to 33 anchor investors at a price of ₹124 per share, raising a total of ₹413.92 crore.
Both Indian and global institutional investors participated in the anchor round, reflecting strong demand ahead of the IPO.
Major participants included SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Axis Mutual Fund, Motilal Oswal Mutual Fund, BlackRock Global Funds, Steadview Capital, and Citigroup, as noted in the BSE filing.
JM Financial, IIFL Capital, and Kotak Mahindra Capital are serving as the lead managers for the IPO.
Proceeds from the fresh issue will be used to repay loans taken by the company and its subsidiaries—AeroStructures Manufacturing India and Aequs Consumer Products. The funds will also support the purchase of new machinery and equipment for Aequs and AeroStructures, as well as future growth initiatives, including acquisitions, strategic expansion plans, and other business needs.
Last month, Aequs raised around INR 144 crore in a pre-IPO round from SBI Funds Management, DSP India Fund, and Think India Opportunities Fund.
The company originally filed confidential draft papers with Sebi in June and received approval to proceed with the IPO in September.
Founded in 2006 by Aravind Melligeri, Aequs is a contract manufacturing company that produces customized components for leading aerospace firms, including Airbus, Boeing, Safran, and Collins Aerospace.
Beyond aerospace, the company also supplies parts to the toy and consumer durables sectors. Aequs operates across India, France, and the United States.
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