Aggcon Equipments plans to tap capital markets for debt reduction, files IPO papers with fresh issue of Rs 332 crore

Aggcon Equipments IPO

Haryana-based infrastructure equipment rental company Aggcon Equipments International has decided to tap capital markets to raise funds for cutting down the debt and capex. It has filed draft papers with the capital markets regulator SEBI for its initial public offering (IPO).

The IPO will be a mix of fresh issuance of equity shares worth Rs 332 crore, and an offer-for-sale of 94 lakh shares by the existing shareholders, as per the DRHP filed on July 10.

Promoter Jitender Aggarwal and his wife Renu will be selling 54 lakh shares and 40 lakh shares, respectively, via offer-for-sale.

The company may also consider fund raising of up to Rs 66.4 crore in pre-IPO round. If it manages to mop up funds in pre-IPO placement, the said amount will be reduced from the fresh issue component.

Aggcon Equipments that competes with listed entities like Sanghvi Movers, Vision Infra Equipments, and Tara Chand Infralogistic Solutions is planning to utilise Rs 168 crore for repaying its debt which was amounted to Rs 379.8 crore as of April 2025.

Further, Rs 84 crore will be spent for purchase of equipment, and the remainder fresh issue money will be utilised for general corporate purposes, while the entire offer-for-sale money will be received by promoters.

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Aggcon Equipments with 337 fleet of equipment including earthmoving, road construction, material handling, concrete, foundation equipments and aerial workspace platform is working with major infrastructure sector companies in India.

On the financial front, the company has recorded net profit at Rs 30.7 crore for the fiscal 2025, increasing 35.6 percent from Rs 22.6 crore, and revenue at Rs 164 crore, growing 19.5 percent from Rs 137.3 crore in the previous fiscal.

Motilal Oswal Investment Advisors is appointed as the sole booking running lead manager for handling the Aggcon Equipments International IPO.