Haryana-based Aggcon Equipments International files DRHP for IPO

Thursday, 10 July 2025: Aggcon Equipments International Limited, an infrastructure equipment rental company to EPC contractors and infrastructure developers, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise funds through Initial Public Offering (IPO).

The IPO, with a face value of ₹1, is a mix of fresh issue of shares up to Rs 332.04 crore and an offer-for-sale up to 5,400,000 equity shares by Jitender Aggarwal and up to 4,000,000 equity shares by Renu Aggarwal.

The proceeds from the fresh issue to the extent of Rs 168 crore for repayment/prepayment, in full or part, of certain borrowings availed by the Company; and Rs 84.03 crore for capital expenditure towards purchase of equipment; and general corporate purposes.

Aggcon Equipments International Limited, incorporated in the year 2003, is one of the leading and fastest-growing infrastructure equipment rental companies in India. With over 22 years of experience, it is one of the few infrastructures rental companies in India possessing the fleet of all the equipment ranging from earthmoving equipment, road construction equipment, material handling equipment, concrete equipment, foundation equipment and aerial workspace platform, according to a 1Lattice Report, mentioned in the DRHP. Its extensive portfolio of equipment leasing services consisting of 337 fleets as on March 31, 2025, and having an average age of 2.91 years, spans across critical industries, including road construction, railways, waterways, power, earthmoving, and construction. The company is working with major infrastructure sector companies in India.

Additionally, it is one of the few players which only does rental services for construction equipment.

The company maintains a large fleet of equipment to support diverse infrastructure projects. Over the years, it has catered its equipment to industry players such as Afcons Infrastructure Limited, Tata Projects Limited, Monte Carlo Limited, Rahee Infratech Limited, G.R. Infraprojects Limited among others. Its equipment has played an important role in the execution of landmark projects, including national highway expansions, metro rail developments, expressways, and large-scale industrial and commercial infrastructure such as Mumbai Trans Harbour Link MTHL PKG-1 Project, Indian Navy Submarine Bunker Varsha at Vishakhapatnam (INS Varsha), Kudankulam Nuclear Power Plant and Dhubri -Phulbari bridge.

As of March 31, 2025, it has catered to more than 500 customers across twenty-seven states and five union territories in India. The company currently have four subsidiaries, namely, Savbri International Private Limited, RJSP Logistics Private Limited, Remodelers Buildcon Private Limited and Max Rentals Private Limited that it acquired on December 19, 2024.

The company has a large fleet of equipment of original equipment manufacturers like Action Construction Equipment Limited, Apollo Carmix Equipments Private Limited, Hyundai Construction Equipment India Private Limited, Gainwell Commosales Private Limited, L&T Construction & Mining Machinery, Sany Heavy Industry India Private Limited, Wirtgen India Private Limited, among others which is rented out to infrastructure companies like Afcons

Infrastructure Limited, Tata Projects Limited, Monte Carlo Limited, Rahee Infratech Limited, G.R. Infraprojects Limited and PNC Infratech Limited.

Aggcon Equipments International Limited’s revenue from operations increased by 19.47% from ₹137.29 crore in Fiscal 2024 to ₹164.02 crore in Fiscal 2025, primarily due to an increase in increase in the rental income; and Freight income. Profit for the year increased by 35.64% from ₹22.64 crore in Fiscal 2024 to ₹30.71 crore in Fiscal 2025 primarily due to increase in total income and efficiency in expenses.

Motilal Oswal Investment Advisors Limited is the sole book-running lead manager and MUFG Intime India Private Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.