Aerospace component maker Aequs is gearing up for its initial public offering (IPO) in 2025 and has taken a concrete step by passing a special resolution to convert into a public company.
The board at Aequs has 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 later this year. The offer will comprise both a fresh issue of equity shares and an offer for sale (OFS) component, according to company filings.
Aequs recently entered into a joint venture with Canadian aerospace systems manufacturer Magellan Aerospace to establish a sand casting facility in Belagavi, India. The partnership is expected to help Aequs transition from modest year-on-year growth to a more robust trajectory.
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Exclusive: Aerospace parts maker Aequs to convert into public company