Aequs raises ₹144 crore from SBI Funds and DSP Via IPO Placement

Aequs, a contract manufacturing company has raised Rs 144 crore (around $16.2 million) via pre-IPO placement led by SBI Fund Management, with participation from DSP Mutual Fund and Think Investments. 

In a public announcement, the company said it issued 1.16 crore shares through a private placement to SBI Fund Management (via two funds), DSP Mutual Fund, and Think Investments at INR 123.97 per share to raise the funds.

After the pre-IPO placement, the company will reduce the size of its fresh issue by INR 144 crore.

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This update comes a little over a month after Aequs filed its revised DRHP for its IPO. According to the updated filing, the public issue includes a fresh issue of up to INR 720 crore and an offer for sale (OFS) of up to 3.18 crore equity shares.

The company plans to use the funds from the fresh issue to repay or prepay existing loans, purchase machinery and equipment, support future acquisitions, and meet general corporate needs.

In July, the IPO-bound company raised INR 128 Cr through a rights issue led by its holding company, Aequs Manufacturing Investments Pvt Ltd. The round also saw participation from existing investors, including Amicus Capital, Steadview Capital, Amansa Investments, as well as several family offices and angel investors.

About Aequs 

Founded in 2006 by Aravind Melligeri, Aequs provides manufacturing services to large enterprises. The company began by serving the aerospace industry and later expanded into other sectors, including toys and consumer durable products.

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It counts Airbus, Boeing, and Collins Aerospace among its key clients. On the financial side, Aequs reported a net loss of INR 102.3 Cr in FY25, a nearly sevenfold increase from INR 14.2 Cr in FY24. Its operating revenue fell 4.2% year-on-year, dropping to INR 924.6 Cr in FY25 from INR 965 Cr in the previous fiscal year.

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