IPO-bound
Aequs Ltd. (Aequs) has raised around Rs. 144 crore by allotting 11,615,713
equity shares (1.88% of the
pre-IPO Offer share capital of the company) to two entities of SBI Funds Management, one each of DSP
India Fund and Think Opportunities Master Fund at a price of Rs. 123.97 per
equity share as part of a pre-IPO placement deal.
The
placement happened pursuant to the resolution of Aequs Board dated November 10,
2025, in accordance with the terms and conditions as specified in the Share
Subscription Agreements (SSAs).
Aequs
is the only precision component manufacturer operating within a single special
economic zone in India to offer fully vertically integrated manufacturing
capabilities in the Aerospace Segment and a product portfolio comprising
consumer electronics, plastics, and consumer durables.
Aequs Ltd. had filed Updated Draft
Red Herring Prospectus (UDRHP) for an initial public offering comprising a
Fresh Issue of up to Rs. 720 crore and an Offer for Sale of up to 31,772,368
equity shares of face value of Rs. 10 each.
With the pre-IPO placement of Rs. 144 crore, the Fresh Issue in the IPO
will now be reduced to around Rs. 576 crore.
SBI Optimal Equity Fund - Long Term
was allotted 2,984,593 equity shares (0.48% of the pre-IPO Offer share capital
of the company) aggregating to Rs. 36.99 crore. SBI Emergent India Fund was
allotted 5,081,874 equity shares (0.82 of the pre-IPO Offer share capital of
the company) aggregating up to Rs. 62.99 crore. DSP India Fund - India Long /
Short Strategy Fund with Cash Management Option was allotted 3,226,587 equity
shares (0.52 of the pre-IPO Offer share capital of the company) aggregating to
Rs. 39.99 crore. Think India Opportunities Master Fund LP was allotted 322,659
equity shares (0.05 of the pre-IPO Offer share capital of the company)
aggregating to Rs. 4 crore.
The Equity Shares issued pursuant to
the Pre-IPO Placement shall be subject to lock-in, in accordance with
Regulation 17 and 16(1)(b) of the SEBI ICDR Regulations. Allottees are not connected in any manner
with the Company, Subsidiaries, Promoters, Promoter Group, Directors, Key
Managerial Personnel, Group Companies, and the directors or key managerial
personnel of the Subsidiaries or the Group Companies.
The book running lead managers to
the IPO are JM Financial Ltd. IIFL Capital Services Ltd. and Kotak Mahindra
Capital Company Ltd.
Aequs has attracted global investors
such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the
family office of Infosys founder N. R. Narayana Murthy), Sparta Group and the
investment office of Desh Deshpande, as per publicly available information.
The company's key clients include
Airbus, Boeing, Bombardier, Collins Aerospace, Spirit Aerosystems Inc, Safran,
GKN Aerospace, Mubea Aerostructures, Honeywell, Eaton and Sabca in the
Aerospace Segment, and, Hasbro, Spinmaster, Wonderchef, and Tramontina in the
Consumer Segment.