India, Nov. 11 -- Contract manufacturing company Aequs has raised INR 144 Cr (about $16.2 Mn) via pre-IPO placement led by SBI Fund Management, with participation from DSP Mutual Fund and Think Investments.

In a public announcement, the company said that it allotted 1.16 Cr shares to SBI Fund Management (via two funds), DSP Mutual Fund and Think Investments via private placement at INR 123.97 apiece to raise the funds.

Following the pre-IPO placement, the company will cut the size of its fresh issue by INR 144 Cr.

The development comes more than a month after Aequs filed its updated DRHP for its IPO. As per the updated DRHP, the public issue was to comprise a fresh issue of up to INR 720 Cr and an offer-for-sale (OFS) component of up t...