Aequs Files RHP, Issue To Open On December 3

SUMMARY

Aequs has filed its red herring prospectus (RHP) for its IPO, which will open on December 3 and close on December 5

Anchor bidding will take place on December 2, while the company’s shares are expected to list on the exchanges on December 10. The IPO will comprise a fresh issue of shares worth up to INR 670 Cr and an offer for sale (OFS) of up to 2.03 Cr shares

The company has cut the size of the issue. As per its updated DRHP, the IPO was to comprise a fresh issue of up to INR 720 Cr and an OFS component of up to 3.2 Cr shares.

Contract manufacturing company Aequs has filed the red herring prospectus (RHP) for its IPO, which will open on December 3 and close on December 5.

Anchor bidding will take place on December 2, while the company’s shares are expected to list on the exchanges on December 10.

The IPO will comprise a fresh issue of shares worth up to INR 670 Cr and an offer for sale (OFS) of up to 2.03 Cr shares. Notably, as per its updated DRHP, the IPO was to comprise a fresh issue of up to INR 720 Cr and an OFS component of up to 3.2 Cr shares.

Earlier this month, the company raised INR 144 Cr in a pre-IPO placement led by SBI Fund Management, with participation from DSP Mutual Fund and Think Investments.

As per the RHP, investors such as Amicus Capital, the Dempo family trusts, and individual shareholders Ravindra Mariwala and Raman Subramanian will offload shares via the OFS. Besides, promoter entities Aequs Manufacturing Investments and Melligeri Private Family Foundation will sell a portion of their holdings.

Founded in 2006 by Aravind Melligeri, Aequs began as an aerospace manufacturing supplier and later expanded into toys, consumer durables and other engineering-led product categories. Its customer list includes global names such as Airbus, Boeing and Collins Aerospace.

Aequs operates as a contract manufacturing company that builds and runs large, integrated facilities to produce components and finished goods for global enterprises.

Its model is built around offering end-to-end manufacturing services under one ecosystem, which allows clients to outsource significant parts of their production with lower lead times, better quality control and reduced logistics costs.

On the financial front, the company posted a net loss of INR 16.9 Cr in H1 FY26, a decline of 76.4% from INR 71.6 Cr in the same period last year. Meanwhile, operating revenue grew 17% to INR 537.1 Cr from INR 458.9 Cr in H1 FY25.

In FY25, its net loss zoomed 618.7% YoY to INR 102.3 Cr, while operating revenue saw a 4.2% decline to INR 924.6 Cr.

Aequs filed its confidential DRHP in July this year and got SEBI’s nod in September to proceed with the public issue. Following its listing, Aequs will become the 15th new-age tech company to make its public market debut this year.