Aequs IPO

Aequs IPO

Listed

MainboardOpens 3 December 2025Closes 5 December 2025

Aequs is a precision component manufacturer specializing in fully vertically integrated production for the Aerospace Segment, operating out of a single Special Economic Zone (SEZ) in India. It is among the largest…

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Live GMPSubscriptionAllotment
Price band
₹118 - ₹124
Issue size
₹921.81 Cr
Lot size
120 shares
Type
Mainboard
GMP
₹24 (+19.4%)
Est. listing
₹148
Est. profit / app
₹2,880
Retail quota
10.00%

Key ratios

As per RHP / filings
Face value
₹10
EPS
-0.51
P/E ratio
-244.92
RoNW
-14.47%
ROE
-14.3%
Debt / Equity
0.99
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Timeline

  1. IPO Opens

    3 Dec 2025

  2. IPO Closes

    5 Dec 2025

  3. Allotment

    8 Dec 2025

  4. Listing

    10 Dec 2025

IPO Timeline & Listing Details

EventDate
IPO Open Date3 December 2025
IPO Close Date5 December 2025
Allotment Date8 December 2025
Listing Date10 December 2025

Investment Categories

CategoryLotsAmount
Retail (Min)
1₹14,880
Retail (Max)Just less than ₹2,00,000
13₹1,93,440
SHNI (Min)Just above ₹2,00,000
14₹2,08,320
SHNI (Max)Below ₹10,00,000
67₹9,96,960
BHNIAbove ₹10,00,000
68₹10,11,840

IPO Reservation Details

CategoryReservation
QIB (Qualified Institutional Buyer)75.00%
NII (Non-Institutional Investor)15.00%
Retail10.00%
Total100.00%

IPO Objectives

  • Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties availed by the Company and its subsidiaries (Total ₹433.17 Cr).
  • Funding capital expenditure for purchase of machinery and equipment by the Company and its subsidiary (₹64.00 Cr).
  • Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes.

Strengths

  • The company has advanced and vertically integrated precision manufacturing capabilities, making it a 'one-stop-shop' supplier preferred by major OEMs like Airbus and Boeing.
  • Operations are set up in unique, engineering-led ecosystems (SEZ), which helps reduce costs, lower logistics needs, and improve quality.
  • It offers a comprehensive precision product portfolio, with specialized metallurgy skills in machining high-end alloys like titanium.
  • The business maintains long-standing relationships with global aerospace customers, a high entry barrier segment, ensuring stable business.
  • It is a founder-led business supported by an experienced management team, driving continuous compliance (AS9100D, NADCAP) and quality control.

Weaknesses

  • The company has a History of sustained Net Losses (FY23-FY25), resulting in a negative P/E ratio, indicating a high-risk investment based purely on uncertain future profitability.
  • It carries a high Debt-to-Equity ratio of 0.62 in FY25, although the IPO proceeds are heavily focused on debt reduction (₹433.17 Cr).
  • There is high dependence on the Aerospace Segment, which has long project cycles and is vulnerable to fluctuations in the global aviation industry.
  • The project-based revenue model involves long lead times and high capital expenditure requirements for specialized machinery and certifications (NADCAP).
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Financial Performance

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets (₹ Cr.)2,134.351,859.841,822.981,321.69
Revenue (₹ Cr.)565.55959.21988.3840.54
PAT (₹ Cr.)-16.98-102.35-14.24-109.5
Net Worth (₹ Cr.)796.04707.53807.17251.91

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
Aequs Ltd.9.94-244.92-14.3%796.04
Azad Engineering7.499.037.55%1,393
Unimech Aerospace7.0562.611.27%669

Subscription Details

Daily Bids Status

CategoryDay 1Day 2Day 3
QIB0.68x0.75x122.93x
NII3.55x17.5x83.61x
S-HNI4.68x24.21x91.13x
B-HNI2.98x14.14x79.86x
RII12.16x34.57x81.03x
EMP7.38x16.32x37.86x
Total3.56x11.49x104.3x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
QIB2,22,41,7332,73,41,34,36033,903.27
NII1,11,24,39993,01,66,20011,534.06
Small NII37,08,13333,79,17,7204,190.18
Big NII74,16,26659,22,48,4807,343.88
RII74,16,26660,09,71,7607,452.05
EMP1,76,99167,00,56083.09
Total4,09,59,3894,27,19,72,88052,972.46
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Company Details

  • Aequs Ltd.
  • Aequs Tower, No. 55, Whitefield Main Road, Mahadevapura Post, Bengaluru, Karnataka-560048
  • 91 96 3205 8521
  • investor.relations@aequs.com
  • https://www.aequs.com/

Registrar Details

Frequently Asked Questions

When does the Aequs IPO open and close?
Aequs IPO opens for subscription on 3rd December 2025 and closes on 5th December 2025. Apply within this window via your broker or ASBA-enabled bank.
What is the Aequs IPO price band and market lot?
The price band is ₹118.00–₹124.00 per share and the market lot is 120 shares. The minimum retail investment per lot at the upper band is ₹14,880.
How is the Aequs IPO allocation split between investor categories?
Allocation is structured with QIBs getting about 75% of the net offer, NIIs up to 15%, and Retail investors up to 10% of the net offer.
When will Aequs shares be allotted and listed?
Tentative dates: Basis of Allotment — 8th Dec 2025; Refunds & Demat Credit — 9th Dec 2025; Listing on BSE & NSE — 10th Dec 2025. Confirm final dates via the registrar or exchanges.
What is GMP and how should I interpret it for Aequs IPO?
GMP (Grey Market Premium) is an unofficial demand indicator in the grey market. It is not regulated and should be used only as a directional signal alongside fundamentals and subscription data.
What financials should I check before applying to the Aequs IPO?
Review revenue trends, PAT/EBITDA, net worth, borrowings, and segment revenues (especially aerospace). Compare these with peers and consider order book and long-term contracts.
How can I apply for Aequs IPO as a retail investor?
Apply through your broker’s IPO application (ASBA) or via your bank’s ASBA facility. Ensure PAN and Demat are active and linked, choose the required number of lots and submit before the issue closes.
Is Aequs IPO suitable for retail investors?
Aequs operates in high-value precision manufacturing with long-term aerospace contracts. While that can mean steady demand, IPO investing carries risk; retail investors should assess risk tolerance, liquidity needs and consult advisors if unsure.

Aequs IPO News & Updates

Follow the latest updates for Aequs IPO, including grey market moves and allotment news.

Aequs IPO IPO Pages

Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.

Aequs IPO Details

Issue size, price, financials, and company info

Aequs IPO GMP

Live grey market premium and listing estimate

Aequs IPO Subscription

QIB, NII, Retail, SHNI and BHNI subscription

Aequs IPO Allotment

Allotment date, chances, and check by PAN

Aequs IPO Review

SWOT, strengths, risks, and IPO review

Aequs IPO FAQ

Common questions on dates, GMP, and allotment

Aequs IPO Registrar

Registrar website and how to check allotment

Aequs IPO Timeline

Open, close, allotment, and listing dates

Aequs IPO News

Updates, blogs, and latest IPO news

Sources

We match Aequs IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • Kfin Technologies Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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