India, Sept. 22 -- Belgaum-based contract manufacturing company Aequs has received SEBI's nod for its DRHP, filed via the pre-filing route.

According to SEBI's weekly processing report, it issued observations on Aequs' draft papers on September 18, marking a key step towards its $200 Mn (about INR 1,700 Cr) IPO.

In SEBI's parlance, issuance of observations is a green light to proceed with the public issue.

Aequs filed its confidential DRHP in June. Prior to that, it converted into a public entity by dropping the word 'Private' from its name.

Founded in 2006 by Aravind Melligeri, Aequs is a diversified contract manufacturing platform catering to aerospace, toys, and consumer durable goods. It supplies components to global giants like A...