Aequs IPO opens today; price band fixed at Rs 118-124

Precision component manufacturer Aequs Group is aiming to raise up to Rs 921.8 crore through an initial public offering that opens for subscription Wednesday.

The Bengaluru-based company has set a Rs 118-124 per share price range for the IPO, which comprises both fresh shares and shares offered for sale by existing investors. The issue will close on December 5.

"The company manufactures more than 5,000 unique aerospace components with over 1.5 million machine hours capacity,” chief executive Aravind Melligeri said. Its manufacturing facilities are mostly in northern Karnataka regions such as Belagavi, Hubbali and Koppal.

Aequs recently began supplying components for portable computers and is about to start mass production for smart devices as part of its trial period to become an official Apple supplier, ET had reported in October.

Its clients include Airbus, Boeing, Collins Aerospace, Spirit AeroSystems and Safran in aerospace, and Hasbro and consumer brands in other segments.

Source: EconomicTimes
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