Precision components manufacturer Aequs has raised approximately ₹144 crore through a pre- placement by allotting 11,615,713 equity shares to four institutional investors at ₹123.97 per share.
The allotment represents 1.88 per cent of the company’s pre-IPO offer share capital. Following the ₹144 crore pre-IPO placement, the fresh issue component will be reduced to approximately ₹576 crore.
The investment was led by two SBI Funds Management entities. SBI Emergent India Fund was allotted 5,081,874 equity shares (0.82 per cent of pre-IPO offer share capital) for ₹62.99 crore, while SBI Optimal Equity Fund – Long Term received 2,984,593 equity shares (0.48 per cent) aggregating to ₹36.99 crore.
DSP India Fund – India Long/Short Strategy Fund with Cash Management Option was allotted 3,226,587 equity shares (0.52 per cent) for ₹39.99 crore. Think India Opportunities Master Fund LP received 322,659 equity shares (0.05 per cent) aggregating to ₹4 crore.
had earlier reported that the company was considering a pre-IPO round ahead of filing its IPO.
Aequs Ltd. had filed an Updated Draft Red Herring Prospectus (UDRHP) for an initial public offering comprising a fresh issue of up to ₹720 crore and an offer for sale of up to 31,772,368 equity shares with a face value of ₹10 each.
The book running lead managers for the IPO are JM Financial Ltd., IIFL Capital Services Ltd., and Kotak Mahindra Capital Company Ltd.
Aequs’ existing institutional shareholders include Amicus Capital Private Equity I LLP, Amicus Capital Partners, Amansa Investments Ltd., Steadview Capital Mauritius Ltd., Catamaran Ekam, and Sparta Group LLC. Together, these investors hold 25.54 per cent of the company’s pre-offer equity capital.
The company intends to utilize the net proceeds from the fresh issue for debt repayment, capital expenditure, inorganic expansion through strategic acquisitions, and general corporate purposes.
The company’s key clients include Airbus, Boeing, Bombardier, Collins Aerospace, Spirit Aerosystems Inc, Safran, GKN Aerospace, Mubea Aerostructures, Honeywell, Eaton and Sabca in the Aerospace Segment, and, Hasbro, Spinmaster, Wonderchef, and Tramontina in the Consumer Segment.