This precision components maker might raise ₹144cr in pre-IPO placement

This precision components maker might raise ₹144cr in pre-IPO placement

Precision components maker Aequs Ltd is planning to raise up to ₹144 crore through a pre-IPO placement.

The move comes ahead of the company's filing of its red herring prospectus (RHP).

The initial public offering (IPO) structure consists of a fresh issue of equity shares worth up to ₹720 crore and an offer-for-sale (OFS) of up to 3.17 crore shares with a face value of ₹10 each.

Placement capped at 20% of the fresh issue amount

The funds raised via the pre-IPO round will be used to reduce the size of the fresh issue.

However, this placement is capped at 20% of the fresh issue amount.

The pricing for this round will be determined in consultation with book running lead managers (BRLMs).

Aequs's existing institutional shareholders include Amicus Capital Private Equity I LLP, Amicus Capital Partners, Amansa Investments Ltd, Steadview Capital Mauritius Ltd, Catamaran Ekam and Sparta Group LLC.