Manufacturing firm Aequs raises ₹414 crore from anchor investors ahead of IPO

Aequs, a contract manufacturing company, said on Tuesday that it has raised ₹414 crore from anchor investors before its IPO.

The company gave 3.34 crore shares to 33 anchor investors at ₹124 per share, raising a total of ₹413.92 crore.

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Both Indian and global institutional investors took part in the anchor round. Some of the 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, according to a notice on the BSE website.

JM Financial, IIFL Capital, and Kotak Mahindra Capital are the lead managers for the IPO.

The funds raised from the new shares will be used to repay loans taken by the company and its two subsidiaries—AeroStructures Manufacturing India and Aequs Consumer Products. It will also help buy new machinery and equipment for the company and AeroStructures, and support future growth through acquisitions, strategic plans, and other business needs.

Last month, Aequs raised about ₹144 crore in a pre-IPO round from SBI Funds Management, DSP India Fund, and Think India Opportunities Fund.

The company first submitted confidential draft papers to Sebi in June and received approval in September to go ahead with the IPO.

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Aequs was founded in 2006 by Aravind Melligeri and is a contract manufacturer that makes customised parts for major aerospace companies like Airbus, Boeing, Safran, and Collins Aerospace. It also supplies products to the toy and consumer durables industries. The company operates in India, France, and the US.

Financially, the Bengaluru-based firm cut its net loss by over 76%, bringing it down to ₹16.9 crore in the first half of FY26 from ₹71.6 crore a year earlier. Its revenue also rose 17% to ₹537.1 crore, up from ₹458.9 crore in the same period of FY25.

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