Aequs IPO Filing: Confidential Submission
- Aequs Limited, an Indian manufacturing platform focused on aerospace and consumer sectors, has confidentially pre-filed a draft red herring prospectus (DRHP) with SEBI for an initial public offering...
- Sources indicate the Aequs IPO could be worth $200 million.
- kotak Mahindra capital, JM Financial, and IIFL Capital are reportedly managing the IPO.
Aequs, a leading Indian manufacturing platform, has confidentially filed for an IPO potentially valued at $200 million, signaling ambitious plans for growth. This strategic move aims to bolster Aequs’ aerospace manufacturing capabilities, including enhancing supply chain efficiencies for global customers. The company, with facilities in India, France, and the USA, is poised to expand its reach, and the IPO will likely involve a fresh issue of equity shares along with an offer for sale. With backing from investors and a projected CAGR of 45%, driven by aerospace business, Aequs is ready to take off. news Directory 3 has been monitoring this critical story.Discover what’s next for Aequs as it aims at expanding.
Aequs Eyes $200M IPO to Fuel Aerospace Manufacturing Growth
Updated June 03, 2025
Aequs Limited, an Indian manufacturing platform focused on aerospace and consumer sectors, has confidentially pre-filed a draft red herring prospectus (DRHP) with SEBI for an initial public offering (IPO). The company, which operates manufacturing facilities in India, France, and the USA, aims to enhance its supply chain efficiencies for global customers through this initiative.
Sources indicate the Aequs IPO could be worth $200 million. The offering is expected to include both a fresh issue of equity shares and an offer for sale (OFS) component, according to regulatory filings. Aequs declined to comment on the IPO plans.
kotak Mahindra capital, JM Financial, and IIFL Capital are reportedly managing the IPO.
Aequs has received equity infusions from promoters and investors like Amicus Capital, Amansa Capital, and Catamaran. A CareEdge Ratings report from July 5, 2024, noted that Aequs raised approximately ₹586 crore from PE investors through CCPS to fund its expanding operations.
in fiscal year 2024, Aequs reported a total income of around ₹988 crore, with a total operating income of ₹970 crore, according to the careedge Ratings Report. The ratings agency projects a compounded annual growth rate (CAGR) of 45% in the near to medium term, driven by the completion of a capex project and consistent order flow in the aerospace business.
Aequs’ financial adaptability is supported by continued promoter backing, the report stated. Aravind Melligeri, the founder, chairman, and CEO, has experience in the aerospace sector, having co-founded quest Global Engineering Private Limited. Recently, Jean-Michel Condamin was appointed CEO of the Aerospace Division, while Rajeev Kaul serves as the Managing Director of Aequs Ltd.
Aequs operates three manufacturing clusters in Karnataka, India, and is reportedly producing mechanical components for Apple products, alongside Tata Electronics, Motherson Group, and Jabil.
The company has diversified operations in aerospace, toys, and consumer durables. Aequs has built a vertically integrated aerospace ecosystem, offering end-to-end solutions including precision machining, sheet metal fabrication, and surface treatment. It is the only precision component manufacturer within a special economic zone in India with fully integrated manufacturing capabilities in the aerospace component sector.
Aequs’ customer base includes major global Aerospace OEMs. The company is the first in India to assemble Plug Doors and Over-Wing Exit Doors for commercial aircraft OEMs through its Aerostructures unit. With a machining capacity of over 1.4 million hours per year,Aequs supplies thousands of parts for OEMs like Airbus,Boeing,and Safran.
The company also manufactures toys and consumer durables, exporting toys to over 66 countries and serving major toy OEMs like Hasbro and Spin Master. Aequs leverages its design-to-product capabilities to manufacture consumer goods and electronics components for global brands from its hubballi Consumer Durable Goods (HDC) cluster.
Aequs has a joint venture with Tramontina, a Brazilian homeware company, to produce cookware and other consumer products. This is Tramontina’s only manufacturing facility outside the Americas, catering to customers in india and abroad, including Wonderchef and Milton.
What’s next
The IPO proceeds are expected to support Aequs’ expansion plans, particularly in the aerospace sector, allowing the company to further integrate its manufacturing capabilities and strengthen its position in the global supply chain.