Bengaluru: Aequs Limited, a leading Indian precision manufacturing platform for aerospace and consumer products, has confidentially filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and stock exchanges, signaling its intent to go public – Aequs IPO.
The proposed Aequs IPO is expected to raise around $200 million, according to industry sources.
As per a public disclosure on June 3, 2025, the company’s Board has approved a transition from “Aequs Private Limited” to “Aequs Limited,” paving the way for its listing as a public entity.
The upcoming Aequs IPO will reportedly include a combination of a fresh issue of shares and an offer for sale (OFS), enabling both capital infusion and partial exit by existing investors. Kotak Mahindra Capital, JM Financial, and IIFL Capital are said to be the lead book-running managers for the offering.
Backed by marquee investors including Amicus Capital, Amansa Capital, Steadview Capital, Catamaran Ventures, Sparta Group, and Desh Deshpande’s investment office, Aequs has secured nearly ₹586 crore in funding via CCPS to scale operations, as highlighted in a CareEdge Ratings report dated July 5, 2024.
For the fiscal year 2024, Aequs reported a total income of ₹988 crore and an operating income of ₹970 crore. The company is poised for a 45% compound annual growth rate (CAGR), buoyed by growing demand in its aerospace segment and recent capital expenditure initiatives.
Aequs IPO
Founded by Aravind Melligeri, who also serves as Chairman and CEO, Aequs benefits from strong leadership with deep aerospace domain experience. Jean-Michel Condamin was recently appointed as CEO of its Aerospace Division, while Rajeev Kaul is the company’s Managing Director.
Headquartered in India, Aequs operates manufacturing units across India, France, and the United States, with industrial clusters located in Belagavi, Hubballi, and Koppal in Karnataka. Industry reports suggest Aequs is part of Apple’s component supply chain alongside Tata Electronics, Motherson Group, and Jabil.
The confidential filing marks a major step for Aequs as it positions itself for expansion in global manufacturing and supply chain excellence.
