Aequs files for an IPO on a confidential basis
Aequs Limited, Belagavi-based aerospace company, has decided to issue an Initial Public Offer on a confidential basis. A pre-filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) on a confidential basis has been filled with the stock markets regulator, SEBI, and stock exchanges. It was announced on Tuesday. (June 3, 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. The book running leading managers to the IPO reportedly are Kotak Mahindra Capital, JM Financial and IIFL Capital.
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 total income of the company was around Rs. 988 crore in FY24 and the total operating income was Rs. 970 crore in FY24.
The company derives financial flexibility from continued promoter's support, the report said. ,p
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.
This is the only manufacturing facility outside of the Americas for Tramontina. Apart from making products for Tramontina worldwide, said a release.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
29 minutes ago
- Economic Times
Stablecoin firm Circle scales record high after blockbuster NYSE listing
Stablecoin issuer Circle Internet's shares climbed 41% to hit a record high on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier. The New York-based company's stock touched as much as $117.45, more than triple its offer price of $31 and valuing the company at $30.5 billion on a fully diluted basis. The blockbuster listing also reinforced expectations that the IPO market was regaining its momentum after being stifled by tariff-driven volatility. "This is big enough that it extends beyond crypto," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. Wall Street executives also struck an optimistic tone on Thursday at an industry conference, emphasizing that markets were ready for the right companies. NYSE President Lynn Martin said Circle's IPO was a bellwether for the IPO market this year and not just for crypto listings. Investors are also realizing that the uncertain environment is going to be relatively persistent and focusing on putting their dollars at work, Nasdaq CEO Adena Friedman said. "This is the latest sign of building momentum in the IPO market. We'll likely continue to see moderate activity over the next month, but there is still some tariff uncertainty on the horizon, which is why we're expecting more of a full IPO rebound in the fall," Kennedy said. Digital banking startup Chime is poised to go public in New York next week. Sixth Street-backed cancer diagnostic firm Caris Life Sciences, private equity-backed debt buyer Jefferson Capital and Florida-based Slide Insurance have also joined the IPO pipeline in recent weeks.
India Gazette
31 minutes ago
- India Gazette
SEBI attaches Mehul Choksi's bank accounts, shares, MFs to recover Rs 2.1 crore dues
Mumbai (Maharashtra) [India], June 6 (ANI): Financial markets regulator SEBI has asked banks and mutual funds to attach the bank accounts and shares and mutual fund holdings of fugitive Mehul Choksi to recover Rs 2.10 crore dues for violating insider trading rules linked to shares of Gitanjali Gems. The dues of Rs 2.1 crore include Rs 1.5 crore penalty, Rs 60 lakh as interest (February 2022 to May 2025 at 1 per cent per month) and Rs 1,000 as recovery cost. On May 15, 2025, SEBI sent Mehul Choksi a notice asking him to pay the dues in 15 days. Failure to do so may result in freezing his assets, SEBI mentioned. 'Whereas no amount has been paid by the Defaulter and there is sufficient reason to believe that the Defaulter may dispose of the amounts/proceeds in the Bank Accounts held with your Bank and realization of amount due under the Recovery Certificate would in consequence be delayed or obstructed,' SEBI wrote in its letter to the banks. A similar letter has also been written to mutual funds in India, asking them to attach his demat accounts and mutual fund holdings. SEBI also asked banks to ensure no debit is made from the defaulter's accounts, if any. Banks have also been asked to furnish details of the accounts, including lockers held by the defaulter and a bank statement for the latest year. Similarly, depositories and mutual funds have been directed to immediately provide details of accounts/folios held by the defaulter, a copy of account statements, and confirmation of attachment of the said accounts/folios. Mehul Choksi is a fugitive Indian businessman who is a key accused in the Punjab National Bank (PNB) scam. His nephew, Nirav Modi, is also wanted by the probe agencies in the scam. The duo are alleged to have defrauded the bank of more than Rs 14,000 crore. PNB unearthed the scam on January 25, 2018, and submitted a fraud report to the Reserve Bank of India (RBI) on January 29. Subsequently, an arrest warrant was issued against Choksi. He is wanted in India for criminal conspiracy, criminal breach of trust, cheating and dishonesty, including delivery of property, corruption, and money laundering. Choksi fled the country in January 2018 to Antigua and Barbuda. A court in Belgium had, in April this year, denied Choksi's bail plea. He was arrested in Belgium in April following an official request from Indian authorities. (ANI)
&w=3840&q=100)
Business Standard
34 minutes ago
- Business Standard
Jubilant gets $600 mn boost from Goldman for Coca-Cola India stake buy
By Megawati Wijaya and PR Sanjai Goldman Sachs Asset Management has provided $600 million to partially fund the equity investment needed by Indian conglomerate Jubilant Bhartia Group for its purchase of a 40 per cent stake in The Coca-Cola Co.'s bottling unit in India, according to people familiar with the matter. Goldman Sachs Asset Management's hybrid fund financed this equity portion by subscribing to the convertible preference shares issued by the group, said the people, who asked not to be named discussing a private matter. The fund — which is part of the investment bank's private credit strategy — sits between traditional debt and equity, and is usually longer in tenure. Convertible preference shares is one of the many ways companies can raise capital to fund their operations and expansion. They can choose to do so because it enables them to avoid taking on debt, while limiting the potential dilution of selling additional common stock. Goldman Sachs and Jubilant Bhartia declined to comment. Coca-Cola in December announced that Jubilant Bhartia will acquire a minority stake in Hindustan Coca-Cola Holdings Pvt., the parent company of the soft drink maker's largest bottler in India called Hindustan Coca-Cola Beverages Pvt. The total acquisition cost is $1.5 billion, the people said. The pizza-to-pharmaceuticals conglomerate will fund the remaining $900 million required for the acquisition with $600 million of equity and $300 million in debt, the people added. Two subsidiaries of the group — Jubilant BevCo and Jubilant Beverages — recently issued rupee-denominated bonds totaling $658 million-equivalent to fund the deal, Bloomberg News reported. Jubilant Bhartia's purchase of a stake in the beverage giant joins a series of foreign firms looking to divest part of their shareholding in local arms. In December, the Indian unit of South Korea-based LG Electronics Inc. filed for an initial public offering, seeking to tap investors in the South Asian country's booming market. Earlier last year, British American Tobacco Plc raised $2 billion selling shares in its Indian partner.
