Liquidity Events
Precision components maker for aerospace cos. Aequs’ IPO oversubscribed 22x
The initial public offering (IPO) of Belgavi-based contract manufacturing company Aequs was oversubscribed 22 times, receiving bids for 99.4 crore shares against 4.20 crore shares on offer. The IPO includes a fresh issue of shares for INR 670 crore and an offer for sale (OFS) of 2.03 crore shares, at a price band of INR 118-124 per share. At the upper end of the price band, the company's valuation would be about INR 8,316 crore (about USD 930 million). Earlier, Aequs raised INR 413.9 crore from 33 anchor investors.The retail investors' quota was oversubscribed 52X and the non-institutional investors' (NIIs) portion was subscribed 45X. Company employees' quota was oversubscribed 23X, while qualified institutional buyers (QIBs) showed 4.6X oversubscription.Founded in 2006 by Aravind Melligeri, Aequs produces customised components for major aerospace OEMs such as Airbus, Boeing, Safran, and Collins Aerospace. The company also supplies parts to clients in the toys and consumer durables sectors, operating manufacturing facilities across India, France, and the USA.For H1 FY26 the company recorded a consolidated loss of INR 17 crore and a revenue of INR 537.2 crore.
Between Mar 2023 and Jul 2025, Aequs had attracted about USD 86 M from Amansa Capital, Amicus Capital, Catamaran, Steadview Capital and others.
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