Chandigarh: Aequs Limited (“Aequs”), a ‘Make in India’ for the world manufacturing platform providing fully vertically integrated, precision manufacturing ecosystem for the aerospace and consumer sectors, pre-filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) on a confidential basis with the stock markets regulator, SEBI, and stock exchanges as per public announcement advertisement that appeared on 3rd June 2025.
The Board of Directors of Aequs Ltd. recently passed a resolution for approval to change its status to a public company and rename it from “Aequs Private Limited” to “Aequs Limited”, as per its regulatory filing.
The company is reportedly planning to launch an IPO worth $200 million, as per sources and past media reports. The offer will comprise both a fresh issue of equity shares and an offer for sale (OFS) component, according to company’s regulatory filings. The company declined to comment.
Aequs had received significant equity infusion over the years from its promoters to scale operations of the company. Additionally, it has attracted global investors such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N. R. Narayana Murthy), Sparta Group and the investment office of Desh Deshpande, as per publicly available information. The company was able to raise external funding in form of CCPS amounting to ~₹586 crore from PE investors, which will be used by the company to fund growing scale of operations as per a CareEdge Ratings report dated 5th July, 2024.
The total income of the company was around Rs. 988 crore (as per regulatory filing) in FY24 and the total operating income was Rs. 970 crore (CareEdge Ratings Report) in FY24. Upon successful completion of the capex project and on back of continuous order inflow in aerospace business, CareEdge Ratings estimates the company’s revenue to grow at compounded annual growth rate (CAGR) of 45% in near to medium term.
The company derives financial flexibility from continued promoter’s support, the report said. The founder and Chairman &. CEO, Aravind Melligeri has decades of experience in aerospace segment and has been the co-founder of QuEST Global Engineering Private Limited. The company had recently announced the appointment of Jean-Michel Condamin, as Chief Executive Officer (CEO) of the Aerospace Division. Rajeev Kaul is the Managing Director of Aequs Ltd.
Aequs runs manufacturing operations across three countries – India, France, and the USA, to provide supply chain efficiencies to its global customer base in multiple industry verticals. Further, it operates three manufacturing clusters (Belgavi, Hubballi & Koppal) in Karnataka, India. Media reports mentioned that Aequs along with Tata Electronics, Motherson Group & Jabil are now producing mechanical components for Apple products.
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