Aequs collects Rs 414 crore from anchor investors ahead of IPO

Aequs Secures Rs 414 Crore from Anchor Investors Ahead of IPO

Aequs, a leading contract manufacturing firm specializing in consumer durable goods and aerospace parts, has secured Rs 414 crore from anchor investors ahead of its initial public offering (IPO).

Participating Anchor Investors:

• SBI Mutual Fund (MF)
• HDFC MF
• ICICI Prudential MF
• Axis MF
• Motilal Oswal MF
• BlackRock Global Funds
• Steadview Capital
• Citigroup

Aequs has allotted around 3.34 equity shares to 33 funds at Rs 124 apiece, raising Rs 413.92 crore, as per the circular uploaded on BSE's website.

IPO Details:

• Issue Price: Rs 118-124 per share
• Issue Size: Rs 922 crore
• Fresh Issue: Rs 670 crore
• Offer for Sale (OFS): Rs 252 crore
• Subscription Dates: December 3-5

The funds raised from the fresh issue would be used for repaying loans, purchasing machinery and equipment, and supporting future growth through potential acquisitions and strategic initiatives.

About Aequs:

• Founded by Aravind Melligeri, with decades of experience in the aerospace sector
• Operates manufacturing facilities across India, France, and the USA
• Key clients include Airbus, Boeing, Bombardier, and Hasbro
• 75% of the issue size reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors

Aequs will make its debut on the stock market on December 10.