Amicus Capital and Amansa Investments-backed Aequs files updated DRHP for IPO with fresh issue of Rs 720 crore

Precision component manufacturer Aequs, which is backed by private equity firm Amicus Capital and Amansa Investments, has filed its Updated Draft Red Herring Prospectus with the SEBI on September 30 to raise funds via initial public offering (IPO).

The company plans to raise Rs 720 crore via issuance of fresh shares, while existing shareholders including promoters and investors will be selling up to 3,17,72,368 equity shares via offer-for-sale (OFS).

The aerospace products maker may consider raising up to Rs 144 crore in pre-IPO round, which is a part of its fresh issue component.

The Confidential Draft Red Herring Prospectus (PDRHP) filed by Aequs has already received approval from the capital markets regulator on September 18 this year.

Investors Amicus Capital, Vasundhara Dempo Family Private Trust, Girija Dempo Family Private Trust, along with promoters Melligeri Private Family Foundation, and Aequs Manufacturing Investments will be selling shareholders in the OFS, apart from individual selling shareholders (Ravindra Mariwala, Sanjeev Mehra, and Edward Brown).

Promoters hold 65.73 percent stake in the company, while the remainder 31.65 percent shares are owned by investors including Amansa Investments, Amicus Capital, Steadview Capital Mauritius, and Sparta Group LLC.

Karnataka-based Aequs will spend Rs 419.2 crore of fresh issue proceeds for repaying borrowings, Rs 67.4 crore for purchase of machinery and equipment, and the remaining amount for funding its inorganic growth through unidentified acquisitions and general corporate purposes.

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The company that supplies aerospace products to Airbus, Boeing, Bombardier, Collins Aerospace, Spirit Aerosystems Inc, Safran, GKN Aerospace, Mubea Aerostructures Honeywell, Eaton and Sabca has posted loss of Rs 102.3 crore in the financial year ended March 2025, widening from loss of Rs 14.2 crore in previous year. Revenue during the same period declined 4.2 percent to Rs 924.6 crore, down from Rs 965 crore.

JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company are managing the Aequs IPO.