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Aequs Prepares for IPO in 2025

Aequs, a maker of aerospace components, is preparing for its initial public offering (IPO) in 2025. The company has taken a significant step by passing a special resolution to become a public entity. In its regulatory filing, it was announced that the Aequs board has approved the transformation to a public company, renaming “Aequs Private Limited” to “Aequs Limited.”

Reports indicate that the company plans to initiate an IPO valued at $200 million later this year. This offering will consist of a fresh equity share issue along with an offer for sale (OFS) component, as detailed in company documents.

Joint Venture with Magellan Aerospace

Aequs has recently formed a joint venture with the Canadian aerospace systems manufacturer Magellan Aerospace to set up a sand casting facility in Belagavi, India. This collaboration is projected to assist Aequs in moving from steady yearly growth to a more substantial growth trajectory.

Company Overview and Financial Performance

Established in 2006 by Aravind Melligeri, Aequs operates as a contract manufacturing company, delivering comprehensive product solutions across the aerospace, toy, and consumer goods sectors. Through its integrated manufacturing ecosystems, Aequs fabricates intricate aerospace parts that adhere to the stringent standards of global aircraft supply chains.

According to data from various startup intelligence platforms, the Belgaum-based company has successfully raised approximately $95 million, which includes a $54 million funding round spearheaded by Amansa Capital in October 2023. Currently, Aequs holds an approximate valuation of $240 million.

For the fiscal year concluding in March 2024, Aequs reported a year-on-year operating revenue growth of 19%, reaching Rs 965 crore compared to Rs 812 crore in FY23. The company also achieved a remarkable reduction in losses, decreasing by 87% to Rs 14.2 crore during the same period.

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