Aequs Files Updated DRHP, To Raise INR 720 Cr Via Fresh Issue

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Inc42
Tue Sept 30 18:34:27 IST 2025
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Contract manufacturing company Aequs has filed its updated draft red herring prospectus (UDRHP) with the SEBI for its initial public offering (IPO) about one week after receiving the markets regulator’s nod for its confidential filings. The Bengaluru-based company’s proposed public offering will comprise a fresh issue of equity shares worth up to INR 720 Cr and an offer-for-sale (OFS) component of up to 3.2 Cr equity shares.

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The OFS component would see Amicus Capital shed the largest amount of shares. Via its three funds – Amicus Capital Private Equity I, Amicus Capital Partners India Fund II and Amicus Capital Partners India Fund I – the PE firm would sell 2.7 Cr shares of Aequs.

Further, Melligeri Private Family Foundation would sell up to 13.1 Lakh shares and individual selling shareholder Ravindra Mariwala would sell up to 12.7 Lakh shares.

The company intends to utilise the capital raised from the fresh issue in the following manner:

  • Repay or prepay outstanding borrowings worth INR 419.2 Cr. In this, Aequs plans to repay/prepay borrowings worth INR 172 Cr for subsidiary AeroStructures Manufacturing India Pvt Ltd and INR 223.8 Cr for Aequs Consumer Products Pvt Ltd.
  • INR 67.5 Cr has been earmarked for purchase of machinery and equipment. While a large chunk of INR 60.6 Cr will be used by AeroStructures Manufacturing India Pvt Ltd, the remaining INR 6.9 Cr will be used by the parent company itself.
  • The remaining amount would be used to fuel unidentified acquisitions and general corporate purposes.

Founded in 2006 by Aravind Melligeri, Aequs is a diversified contract manufacturing company catering to aerospace, toys, and consumer durable goods. It supplies components to global giants like Airbus, Boeing, Safran, Dassault, and Collins Aerospace, and also manufactures parts for Apple MacBooks and watches. The company has facilities in India, France, and the US.


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