Precision components manufacturer Aequs Ltd is looking to raise up to ₹144 crore through a pre-IPO placement as it prepares to file its red herring prospectus, according to its Draft Red Herring Prospectus (UDRHP).
The company’s initial public offering (IPO) strategy includes a fresh issuance of equity shares totaling up to ₹720 crore, alongside an offer-for-sale (OFS) of up to 3.17 crore shares with a face value of ₹10 each. Funds raised through the pre-IPO placement will decrease the size of the fresh issue, with a cap set at 20 percent of that amount. Share pricing will be determined in consultation with the book running lead managers (BRLMs).
Current institutional shareholders of Aequs comprise Amicus Capital Private Equity I LLP, Amicus Capital Partners, Amansa Investments Ltd, Steadview Capital Mauritius Ltd, Catamaran Ekam, and Sparta Group LLC, collectively holding 25.54 percent of the company’s equity before the offering. The proceeds from the fresh issue are intended to be utilized for debt repayment, capital expenditures, strategic acquisitions for inorganic growth, and general corporate needs.
In the OFS, Amicus Capital will sell the majority of shares, divesting approximately 2.7 crore shares across its three funds. Other significant sellers include the Melligeri Private Family Foundation and individual investor Ravindra Mariwala, offloading 13.1 lakh and 12.7 lakh shares, respectively.
The BRLMs facilitating the offering are JM Financial, IIFL Capital Services, and Kotak Mahindra Capital.
From a financial perspective, Aequs reported a net loss of ₹102.3 crore for FY25, an increase from a loss of ₹14.2 crore in the previous fiscal year. Its revenue declined by 4.2 percent year-on-year, amounting to ₹924.6 crore.
Published on October 5, 2025.
