Amansa, Amicus Capital-backed aerospace parts maker Aequs to launch IPO on December 3, offer size could be over Rs 900 crore

Aequs to launch IPO on December 3

Amansa Investments, and Amicus Capital-backed aerospace products manufacturer Aequs has filed Red Herring Prospectus (RHP) with the Registrar of Companies on November 26 to launch its IPO for public subscription on December 3. This would be the first public issue next month from the mainboard segment.

The IPO anchor book will be opened for a day on December 2, while the offer will close for the public on December 5. The IPO share allotment will be finalised by December 8, while the trading in Aequs shares will commence on the BSE and NSE effective December 10.

The company is likely to raise more than Rs 900 crore through its initial public offering (IPO) assuming the upper price band of the offer at Rs 123.97 per share, the price at which it has closed its pre-IPO round earlier this month.

The IPO comprises of fresh issuance of shares worth Rs 670 crore, and an offer-for-sale of 2.03 crore equity shares worth Rs 251.8 crore.

Amicus Capital, Raman Subramanian, Ravindra Mariwala, Vasundhara Dempo Family Private Trust, Girija Dempo Family, and promoters are the selling shareholders in the offer-for-sale.

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Aequs, which is valued at over Rs 8,300 crore at the potential offer price of Rs 123.97 per share, has reduced its fresh issue as well as offer-for-sale size from Rs 720 crore, and 3.17 crore equity shares planned earlier as per the Updated DRHP filed on September 30 this year.

Before the launch of IPO, the company has undertaken a private placement of equity shares, amounting to Rs 144 crore. SBI Mutual Fund, DSP India Fund, and Think India Opportunities Master Fund participated in the pre-IPO round.

Promoters currently hold 64.48 percent equity stake in the company, and the remainder 32.95 percent shares are owned by the public including Amansa Investments (8.13 percent stake), Amicus Capital (5.54 percent), and Steadview Capital (3.7 percent).

The Karnataka-based company that claims the only precision component manufacturer operating within a single special economic zone in India to offer fully vertically integrated manufacturing capabilities in the aerospace segment provides components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for aerospace its clients.

Aequs intends to spend Rs 433.2 crore of fresh issue proceeds for repayment of certain borrowings, Rs 64 crore for purchase of machinery and equipment, and the remainder funds for inorganic growth, and general corporate purposes.

On the financial front, the loss for six months period ended September 2025 narrowed to Rs 17 crore, from loss of Rs 71.7 crore in corresponding period of previous fiscal. Revenue during the same period increased by 17 percent to Rs 537.2 crore, up from Rs 459 crore.

Loss in the fiscal 2025 widened to Rs 102.3 crore, compared to loss of Rs 10.8 crore in previous year. Revenue during the same period dropped 4.2 percent to Rs 924.6 crore, down from Rs 965 crore.

JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company are acting as the merchant bankers for the Aequs IPO.