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The Hindu
4 days ago
- Business
- The Hindu
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.
Mint
5 days ago
- Business
- Mint
IPO Watch: Aequs files for IPO on a confidential basis; plans to raise up to $200 million
IPO Watch: Aequs Limited (Aequs), a manufacturing platform embodying the 'Make in India' initiative designed for global markets, has confidentially submitted a draft red herring prospectus (DRHP) for an initial public offering (IPO) to the stock market regulator, SEBI, and stock exchanges, as indicated by a public announcement that was published on June 3, 2025. The company offers a comprehensive, precision manufacturing ecosystem for the aerospace and consumer sectors. Recently, the Board of Directors of Aequs Ltd. approved a resolution to transition the company's status to a public entity and to change its name from 'Aequs Private Limited' to 'Aequs Limited,' in accordance with its regulatory filing. Aequs has received considerable equity investments from its promoters over the years to expand the company's operations. Furthermore, it has drawn the attention of global investors like 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, according to publicly accessible information. The firm successfully secured external funding through Convertible Cumulative Preference Shares (CCPS), totaling approximately ₹ 586 crore from private equity investors, which will be utilized to support the growing scale of its operations as indicated in a CareEdge Ratings report dated July 5, 2024. In FY24, the company's total income was about ₹ 988 crore (as per regulatory filings), while its total operating income reached ₹ 970 crore (according to the CareEdge Ratings Report) during the same fiscal year. Based on successful completion of its capital expenditure project and consistent order inflow in the aerospace sector, CareEdge Ratings anticipates that the company's revenue will experience a compounded annual growth rate (CAGR) of 45% in the near to medium term. The report highlighted that the company benefits from ongoing support from its promoters. Aravind Melligeri, the founder and Chairman & CEO, possesses decades of experience in the aerospace field and is a co-founder of QuEST Global Engineering Private Limited. Recently, the company announced the appointment of Jean-Michel Condamin as the Chief Executive Officer (CEO) of its Aerospace Division, while Rajeev Kaul serves as the Managing Director of Aequs Ltd. According to sources and previous media reports, the company is allegedly preparing to initiate an IPO valued at $200 million. The offering is expected to include both a new issue of equity shares and an offer for sale (OFS) segment, based on the company's regulatory documents. The company chose not to provide any comments. The book running lead managers for the IPO are said to be Kotak Mahindra Capital, JM Financial, and IIFL Capital. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
The Hindu
27-05-2025
- Business
- The Hindu
Narayana Murthy commits to 20-year funding of scholarship at IIM Ahmedabad
Infosys co-founder N.R. Narayana Murthy has entered into a memorandum of understanding (MoU) with the Indian Institute of Management Ahmedabad (IIMA) to establish an inflation-adjusted, full-fee scholarship, which will cover the recipient's annual tuition fee, hostel expenses, course material, and mess charges for the two-year postgraduate programme (PGP) at the institute. The scholarship, named 'Professor Jaswant G. Krishnayya Merit Scholarship' will be awarded annually to an eligible student who achieves the highest CGPA in the first year of the PGP. Mr. Murthy has committed to funding the scholarship for a period of 20 years. The aggregate payout for the scholarship over 20 years is estimated at ₹12 crore. 'This scholarship also serves as a testament to professor Krishnayya's pivotal role in shaping my early life and career. It is my hope that this scholarship will inspire students to strive for excellence and make a positive impact on the world,' Mr. Murthy said. Long-standing bond IIMA Board of Governors chairperson and Zydus Lifesciences chairman Pankaj Patel noted that Mr. Murthy's bond with IIMA began in 1969 as chief systems programmer, which deepened further when he served as chairman of the institute from 2002 to 2007. Bharat Bhasker, director, IIMA, remarked that the scholarship was a celebration of excellence, mentorship, and impact, and reflected the institute's vision of enabling merit-based access to management education, while paying tribute to those who helped build it to what it is today.
