Aerospace components maker Aequs is set to raise Rs 720 crore through an initial public offering (IPO), as per its draft red herring prospectus.

The Belagavi-based company, which operates out of Karnataka’s Belagavi Manufacturing Cluster, will use the proceeds to reduce debt, fund capital expenditure, and drive strategic acquisitions. The IPO will include a fresh issue of equity shares along with an offer for sale. Over the past 15 years, Aequs has steadily expanded its precision manufacturing capabilities, diversifying into both aerospace and consumer segments. It has also grown internationally, acquiring operations in North America and France to broaden its aerospace portfolio and global footprint.

The company’s client base includes major aerospace players like Airbus, Boeing, Safran, and Collins Aerospace, as well as consumer brands such as Hasbro and Wonderchef. Aequs’ manufacturing cluster in India plays a pivotal role in producing aero-structure and aeroengine components for global customers.