IPO-Bound Aequs Nets INR 414 Cr From Anchor Investors

Ahead of the commencement of the bidding for its public issue tomorrow, contract manufacturing company Aequs has raised INR 413.9 Cr from anchor investors. 

As many as 33 investors subscribed to 3.3 Cr equity shares of the company at a price of INR 124 apiece, the upper band of its IPO price band.

Of the total, 1.9 Cr shares or 56.7% of the total anchor round were picked up by 10 domestic mutual funds through 18 schemes. The domestic mutual funds that led the Aequs’ anchor round were SBI, HDFC, Bank of India, Motilal Oswal Manufacturing Fund, Axis Mutual Fund, among others. 

Other investors who participated in the round included Edelweiss, BlackRock, Steadview Capital, Susquehanna, among others. 

With this, the contract manufacturing company’s public issue will now open tomorrow and close on December 5 (Friday). The company’s shares are expected to list on the exchanges on December 10.

Aequs’ IPO comprises a fresh issue of shares worth up to INR 670 Cr and an offer for sale (OFS) component of up to 2.03 Cr shares. 

(This story will be updated soon)

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