Aequs, manufacturer of precision components, is set to raise up to ₹720 crore through an initial public offering (IPO), according to its updated draft red herring prospectus (UDRHP) filed with market regulators.
The public issue comprises a fresh equity issue of up to ₹720 crore and an offer for sale (OFS) of up to 3.17 crore equity shares, with a face value of ₹10 each.
The company’s existing institutional investors include Amicus Capital Private Equity I LLP, Amicus Capital Partners, Amansa Investments Ltd, Steadview Capital Mauritius Limited, Catamaran Ekam, and Sparta Group LLC. These investors collectively own 25.54 per cent of the pre-offer equity share capital. The company plans to deploy the net proceeds from the fresh issue toward debt reduction, capital expenditure, funding inorganic expansion through strategic acquisitions and other corporate purposes.