Aequs Secures Rs 144 Crore Pre-IPO Funding Boost

Aequs Ltd, involved in manufacturing aerospace parts and consumer goods, has raised Rs 144 crore from key investors as part of its pre-IPO funding. This alters its IPO plans, reducing new shares to Rs 576 crore. Funds will support debt repayment, equipment purchase, and potential acquisitions.

Aequs Ltd, a prominent manufacturer of aerospace parts and consumer goods, successfully secured approximately Rs 144 crore in a pre-IPO funding round. The investment comes from notable players such as SBI Funds Management, DSP India Fund, and Think India Opportunities Fund.

The influx of capital allows Aequs to adjust its initial public offering (IPO) strategy, reducing the fresh issue to around Rs 576 crore from the previously planned Rs 720 crore. The move signals Aequs's strategic approach in optimizing financial leverage before going public.

Aequs plans to utilize the IPO proceeds for various corporate purposes, including debt repayment, acquisition of new machinery for its subsidiaries, and exploring strategic growth opportunities. Founded by Aravind Melligeri, the company's robust growth and diversified product portfolio cater to leading aerospace and consumer sectors' clients.

(With inputs from agencies.)