Aequs IPO to open on December 3: Here's a look at objectives, key dates and more

Aequs IPO: The initial public offering of diversified contract manufacturer Aequs is all set to hit the primary market on Wednesday, December 3. The issue will conclude on December 6. The bidding for anchor investors will take place on December 2. The company has not announced the price band yet.

The proposed IPO is a fresh issuance of ₹670 crore and an offer for sale (OFS) of 20,307,393 shares by promoter Melligeri Private Family Foundation and investors Amicus Capital Private Equity I LLP, Amicus Capital Partners India Fund II, Amicus Capital Partners India Fund I and Raman Subramanian.

Fresh issue procees will be used to repay loans taken by the company and its two units (AeroStructures Manufacturing India and Aequs Consumer Products), purchase machinery and equipment for the firm and AeroStructures, unidentified acquisitions and general corporate needs.

In the pre-IPO funding round, the company had raised ₹144 crore from SBI Funds Management, Think India Opportunities Fund and DSP India Fund.

Aequs IPO: Allotment and listing date

Aequs Ltd primarily operates in the aerospace segment, but over the years it has expanded its product portfolio to include plastics, consumer electronics and consumer durables. Its consumer products include cookware and small home appliances, while its plastics offerings include outdoor toys, figurines, toy vehicles, and components for consumer electronics such as portable computers and smart devices.

Its key clients are Boeing, Airbus, Bombardier, Spirit AeroSystems Inc, Safran, Collins Aerospace, GKN Aerospace, Mubea Aerostructures, Eaton, Sabca and Honeywell in aerospace, and Spinmaster, Wonderchef, Hasbro and Tramontina in consumer products.

It operates manufacturing facilities across India, France, and the USA. In India, the company runs three manufacturing clusters in Belagavi, Hubballi, and Koppal in Karnataka.

Founded by Aravind Melligeri, who has decades of experience in the aerospace sector and was a co-founder of QuEST Global Engineering, Aequs brings strong leadership expertise to its operations.

The book running lead managers to the IPO are JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company. KFin Technologies is the registrar.