Core Insights - Aequs has filed an updated Draft Red Herring Prospectus (DRHP) for its IPO, which includes a fresh issue of shares worth up to INR 720 Cr and an offer-for-sale (OFS) component of up to 3.2 Cr equity shares [1][2] Shareholding Structure - Aequs Manufacturing Investments holds the largest stake at 48.07%, followed by Melligeri Private Family Foundation with 16.82%, and Amicus Capital with over 7.5% through its funds [3][4] - The promoters collectively own 65.06% of Aequs, with Aravind Melligeri, the founder, holding a minor stake of 0.17% [3][4] Financial Overview - Aequs reported a net loss of INR 102.3 Cr for the fiscal year ending March 2025, a significant increase from INR 14.2 Cr in FY24, primarily due to an impairment on goodwill of INR 48.3 Cr [9] - Revenue from operations decreased by 4.19% to INR 924.6 Cr in FY25 from INR 965 Cr in the previous fiscal year, with the aerospace segment contributing INR 824.6 Cr and the consumer division INR 100 Cr [10] Revenue Sources - The US and France are the largest markets for Aequs, contributing 23% and 22% of revenue, respectively, followed by Germany (12%), India (11%), and other countries [11] Use of Proceeds - Proceeds from the fresh issue will be allocated for loan repayment of INR 419.2 Cr, purchasing machinery worth INR 67.5 Cr, and funding unidentified acquisitions and strategic initiatives [7] Company Background - Founded in 2006, Aequs is a contract manufacturing company serving sectors such as aerospace, toys, and consumer durable goods, with facilities in India, France, and the US [8]