Aequs Ltd. has raised Rs 413.9 crore from anchor investors on Tuesday, ahead of its initial public offering (IPO). The company allotted 3.33 equity shares at Rs 124 per equity share to 33 anchor investors. Smallcap World Fund INC got the highest allocation of 12.08% or nearly 40 lakh shares.

Aequs Garners Rs 414 Crore From Anchor Investors Ahead Of IPO

Aequs Ltd. Secures Rs 413.9 Crore from Anchor Investors Ahead of IPO

Aequs Ltd. has successfully raised Rs 413.9 crore from anchor investors, paving the way for its upcoming initial public offering (IPO). The company allotted 3.33 equity shares at Rs 124 per equity share to 33 anchor investors.

Anchor Investors and Allotments

Smallcap World Fund INC: Highest allocation of 12.08% or nearly 40 lakh shares.
ICICI Prudential Innovation Fund: Second-highest allotment of 9.66% or close to 32 lakh shares.
SBI MNC fund: Third-place allotment of 7.25% or approximately 24 lakh shares.

Ten domestic mutual funds have applied through 18 schemes, with a collective net of 56.70% of the anchor portion. Notable fund houses include SBI MNC fund, HDFC mutual fund, ICICI Mutual Fund, Axis Mutual Fund, Motilal Oswal Mutual Fund, BlackRock Global Funds, Bank of India Mutual Fund, Steadview Capital, Citigroup, and Societe Generale.

Book Running Lead Managers

JM Financial Limited
IIFL Capital Services Limited
Kotak Mahindra Capital Company Limited

Aequs IPO Details

The Aequs IPO will open for bidding on Dec. 3 and close on Dec. 5. It contains a fresh issue worth up to Rs 670 crore and an offer for sale of over two crore shares of face value of Rs 10 apiece.

Price Band and Listing

The price band for the IPO has been set at Rs 118 - Rs 124 per share, with equity shares proposed to be listed on the National Stock Exchange of India Ltd. and BSE Ltd.

Proceeds and Utilization

Proceeds from the IPO fresh issue worth Rs 433 crore will be used for repayment or prepayment of certain outstanding borrowings and prepayment of penalties. As on Oct. 31, 2025, the aggregate outstanding borrowings stood at Rs 631 crore.

The company will use Rs 64 crore to purchase machinery and equipment, while the remaining funds will be used to fund inorganic growth through unidentified acquisitions and other general corporate purposes.

Promoters and Investors

The only promoter of the company offloading shares in the offer for sale is Melligeri Private Family Foundation. Other investors selling stakes include Amicus Capital Pvt. Equity I LLP, Amicus Capital Partners India Fund II, Amicus Capital Partners India Fund I, and Ravindra Mariwala.