Upcoming IPO: Aggcon Equipments International Files DRHP with SEBI for IPO

Aggcon Equipments International Ltd, a Haryana-based infrastructure equipment rental company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking the first step towards launching its Initial Public Offering (IPO). The move is aimed at raising fresh capital to support the company’s growth and operational goals.

Motilal Oswal Investment Advisors will act as the sole book-running lead manager for the IPO. MUFG Intime India has been appointed as the registrar to the issue. Upon completion of the IPO process, the equity shares of Aggcon Equipments International Ltd will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Aggcon Equipments IPO Structure

The Aggcon Equipments International IPO comprises a fresh issue of equity shares aggregating to ₹332.04 crore. Additionally, the offer includes an Offer-for-Sale (OFS) of up to 54 lakh equity shares by promoter Jitender Aggarwal and up to 40 lakh shares by Renu Aggarwal. Each share carries a face value of ₹1.

Use of Proceeds

According to the DRHP, proceeds from the fresh issue will be allocated across three key areas: ₹168 crore will go towards the repayment or prepayment of existing borrowings; ₹84.03 crore will be used for capital expenditure on equipment purchases; and the remaining funds will be directed toward general corporate purposes.

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About Aggcon Equipments International

Founded in 2003, Aggcon Equipments International Ltd specializes in providing a wide range of rental services for infrastructure development. Its offerings cover earthmoving equipment, road construction machinery, concrete and foundation tools, and aerial work platforms. As of March 31, 2025, the company operated a fleet of 337 machines with an average age of 2.91 years, servicing sectors such as roads, railways, power, and industrial infrastructure.

Aggcon has been a part of several landmark infrastructure projects in India. Its equipment has been deployed in high-profile undertakings such as the Mumbai Trans Harbour Link (MTHL), Kudankulam Nuclear Power Plant, INS Varsha naval base, and the Dhubri–Phulbari bridge. Over the years, the company has built a strong presence across 27 states and 5 union territories, serving more than 500 clients.

The company’s clientele includes some of the most reputed names in the Indian infrastructure sector. These include Afcons Infrastructure, Tata Projects, Monte Carlo, and GR Infraprojects. Aggcon’s long-standing relationships with these firms underline its credibility and operational strength in the equipment rental space.

In FY25, Aggcon posted a robust financial performance. The company’s revenue grew by 19.47% year-on-year to ₹164.02 crore, while net profit surged by 35.64% to ₹30.71 crore. These figures reflect the company’s consistent growth and operational efficiency.

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