The Belagavi-based aerospace and consumer manufacturing company has fixed its IPO price band at Rs 118–124 per share. The offer consists of a fresh issue of 5.40 crore shares aggregating Rs 670 crore and an offer for sale (OFS) of 2.03 crore shares worth Rs 251.81 crore. At the upper end of the price range, the total issue size stands at approximately Rs 921.72 crore.
Retail investors can bid for a minimum of 120 shares, requiring an outlay of Rs 14,880 at the upper band. Small non-institutional investors (sNII) must bid for at least 14 lots (1,680 shares), translating into a minimum investment of Rs 2,08,320. Employees participating in the reserved quota will receive a discount of Rs 11 per share, bringing their effective purchase price down to Rs 107–113.
Aequs IPO: Key Dates
The Aequs IPO will open for subscription on December 3 and remain available to investors until December 5. Following the closure of the bidding process, the company is expected to finalise the share allotment on December 8. Subject to regulatory approvals and completion of procedures, Aequs is likely to make its market debut on the BSE and NSE on December 10.
Robust Pre-IPO Interest
Ahead of the IPO, Aequs raised Rs 144 crore through a pre-IPO placement at Rs 123.97 per share. The round saw participation from marquee institutional investors, including SBI Mutual Fund (Optimal Equity and Emergent India Funds), DSP India Fund, and Think India Opportunities Master Fund. The early institutional traction indicates sustained demand for the issue.
Aequs IPO GMP today:
As of December 1, the grey market premium for the Aequs IPO has climbed to Rs 43.5, reflecting a 35.08% premium over the upper issue price of Rs 124 and up from about a 20% premium earlier. Based on the current GMP, the stock is estimated to list at around Rs 167.5 per share.
Company Profile
Aequs is a precision engineering and manufacturing firm with a strong presence in aerospace components, consumer durable parts, and vertically integrated manufacturing solutions. Its ecosystem-driven operations and longstanding relationships with global OEMs give it a niche position in high-tolerance manufacturing.
However, on the financial front, Aequs reported a widening net loss of Rs 102 crore in FY25, compared with Rs 14.24 crore in the previous fiscal. Total income was also moderated by 3% to Rs 959 crore from Rs 988 crore in FY24.
Issue Managers
The IPO is being jointly managed by JM Financial, IIFL Capital, and Kotak Mahindra Capital, while KFin Technologies will act as the registrar.
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