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Contract manufacturing company Aequs made a strong debut on the bourses, with its shares getting listed at INR 140 apiece on the BSE and the NSE, a premium of 12.9% to the issue price of INR 124.
The public offering comprised a fresh issue of shares worth up to INR 670 Cr and an offer for sale (OFS) of up to 2.03 Cr shares. The company had set a price band of INR 118 to INR 124 for it.
Aequs’ IPO closed with an oversubscription of 101.63X, receiving bids for 427.1 Cr shares against 4.20 Cr shares available for subscription.
Founded in 2006 by Aravind Melligeri, Aequs is a diversified contract manufacturer that caters to clients in aerospace, toys, and consumer durables sectors. The company carries production of over 5,000 unique parts in its facilities operating in India, France, and the US.
It supplies customised components and assemblies to major aerospace OEMs, such as Airbus, Boeing, Safran and Collins Aerospace.
Its business model relies on vertical integration and in-house capabilities, ranging from forging, machining, coating, and molding to assembly and testing. It manufactures components like landing gear, engine components, aerostructure components, flight control actuators.
(The story will be updated soon)
The post Aequs IPO: Shares List At 13% Premium appeared first on Inc42 Media.
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