Aequs likely to raise ₹144 crore via pre-IPO placement ahead of listing

Precision components manufacturer Aequs Ltd may raise up to ₹144 crore through a pre-IPO placement ahead of filing its red herring prospectus, according to its UDRHP.

The IPO structure includes 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. Any funds raised through the pre-IPO round will reduce the size of the fresh issue, with the placement capped at 20 per cent of the fresh issue amount. Pricing will be decided in consultation with the book running lead managers (BRLMs).

Aequs’ 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. Together, these investors hold 25.54 per cent of the company’s pre-offer equity capital. The company intends to use the net proceeds from the fresh issue for debt repayment, capital expenditure, inorganic expansion through strategic acquisitions, and general corporate purposes.

As part of the OFS, Amicus Capital will divest the largest portion, offloading about 2.7 crore shares across its three funds. The Melligeri Private Family Foundation and individual investor Ravindra Mariwala will sell 13.1 lakh and 12.7 lakh shares, respectively.

JM Financial, IIFL Capital Services, and Kotak Mahindra Capital are the BRLMs for the offering.

Financially, the company reported a net loss of ₹102.3 crore in FY25, widening from a loss of ₹14.2 crore in the previous fiscal. Revenue declined 4.2 per cent year-on-year to ₹924.6 crore.

Published on October 5, 2025