Aerospace manufacturer gears up for public listing in 2025 amid JV with Magellan, improved revenues, and sharp drop in losses
Aerospace and contract manufacturing firm Aequs has formally begun its journey towards a USD 200 million IPO, with the board approving a special resolution to convert the company into a public limited entity, regulatory filings show.
The company will be renamed ‘Aequs Limited’ as it transitions from a privately held firm to a publicly listed one, ahead of its planned offering later this year. The IPO is expected to include a combination of fresh equity issuance and offer for sale (OFS) by existing shareholders.
The move follows Aequs’ recently introduced joint venture with Canada’s Magellan Aerospace to set up a sand-casting facility in Belagavi, Karnataka. The facility is expected to bolster Aequs’ capabilities in producing high-precision aerospace components and accelerate its growth trajectory.
Founded in 2006 by Aravind Melligeri, Aequs operates across aerospace, consumer goods, and toy manufacturing. Leveraging its integrated manufacturing ecosystems, the company delivers complex end-to-end product solutions, particularly for global aircraft supply chains.
The Belgaum-based firm has raised a total of USD 95 million to date, including a USD 54 million round led by Amansa Capital in October 2023.