C, a contract manufacturing firm specialising in consumer durable goods and aerospace parts, on Friday set a price band of ₹118-124 per share for its upcoming ₹922-crore Initial Public Offering (IPO). At the upper end, the company will be valued at over ₹8,300 crore.
The initial share-sale will open for subscription on December 3 and close on December 5, with anchor investors set to receive their allocation on December 2, Aequs said in a public announcement.
The IPO comprises a fresh issue of shares worth ₹670 crore, along with an Offer For Sale (OFS) of 2.03 crore shares valued at ₹252 crore by promoters and existing investors, taking the total issue size to ₹922 crore.
Funds raised from the fresh issue would be used for repaying loans taken by the company and its two subsidiaries — AeroStructures Manufacturing India and Aequs Consumer Products; purchasing machinery and equipment for the company and AeroStructures; and supporting future growth through potential acquisitions, other strategic initiatives and for general corporate needs.
Earlier this month, Aequs raised around ₹144 crore from SBI Funds Management, DSP India Fund and Think India Opportunities Fund as a part of a pre-IPO funding round.
Aequs initially filed confidential draft papers with SEBI in June and secured approval in September to launch the IPO.
By opting for the confidential pre-filing route, the company could delay public disclosure of IPO details until later stages, a strategy increasingly adopted by Indian firms seeking flexibility in their IPO planning.
Aequs primarily operates in the aerospace segment, but over the years it has expanded its product portfolio to include consumer electronics, plastics, and consumer durables.
Its consumer products include cookware and small home appliances, while its plastics offerings include outdoor toys, figurines, toy vehicles and components for consumer electronics such as portable computers and smart devices.
The company is backed by prominent investors, including Amicus Capital, Amansa Capital, Steadview Capital, Catamaran — the family office of Infosys founder N R Narayana Murthy — and Sparta Group.
Its key clients are Airbus, Boeing, Bombardier, Collins Aerospace, Spirit AeroSystems Inc, Safran, GKN Aerospace, Mubea Aerostructures, Honeywell, Eaton and Sabca in aerospace, and Hasbro, Spinmaster, Wonderchef and Tramontina in consumer products.
It operates manufacturing facilities across India, France, and the USA. In India, the company runs three manufacturing clusters in Belagavi, Hubballi and Koppal in Karnataka.
Founded by Aravind Melligeri, who has decades of experience in the aerospace sector and was a co-founder of Quest Global Engineering.
As per the company, 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
The company will make its debut on the stock market on December 12.
The book running lead managers to the IPO are JM Financial Ltd., IIFL Capital Services Ltd. and Kotak Mahindra Capital Company Ltd.
Published on November 28, 2025
