
Aequs IPO
Aequs IPO
Overview
Aequs IPO is a book build issue of ₹921.81 crores. The issue is a combination of fresh issue of 5.40 crore shares aggregating to ₹670.00 crores and offer for sale of 2.03 crore shares aggregating to ₹251.81 crores. Aequs IPO opens for subscription on Dec 3, 2025 and closes on Dec 5, 2025. The allotment for the Aequs IPO is expected to be finalized on Dec 8, 2025. Aequs IPO will list on BSE, NSE with a tentative listing date fixed as Dec 10, 2025. Aequs IPO price band is set at ₹118.00 to ₹124.00 per share . The lot size for an application is 120. The minimum amount of investment required by an retail is ₹14,880 (120 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,680 shares), amounting to ₹2,08,320, and for bNII, it is 68 lots (8,160 shares), amounting to ₹10,11,840. JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Total Shares
7,43,39,651
Issue Size
₹921.81 Cr
Price Band
₹118 – ₹124
Lot Size
120 shares
Min. Investment
₹14,880
Max. Investment
₹1,93,440
Open Date
03 Dec, 2025
Close Date
05 Dec, 2025
Allotment
08 Dec, 2025
Listing
10 Dec, 2025
Max. Investment
₹1,93,440
Announced
03 Dec, 2025
Opening Date
03 Dec, 2025
Closing Date
05 Dec, 2025
Basis of Allotment
08 Dec, 2025
Initiation of Refunds
09 Dec, 2025
Credit of Shares
09 Dec, 2025
Listing Date
10 Dec, 2025
Live GMP
Est. Listing: ₹171
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About Aequs IPO
Incorporated in 2000, Aequs Ltd. is engaged in manufacturing and operating a special economic zone in India to offer fully vertically integrated manufacturing capabilities in the Aerospace Segment.
The company's diverse product portfolio includes components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for the aerospace clients.
The company primarily operate in the Aerospace Segment, over the years, they have expanded t
Aequs IPO Share Price
Issue Breakdown
Shareholding
Dilution: 8.8% increase in shares
Aequs IPO Promoters Holding
Aequs IPO Financial Health
Aequs Ltd.'s revenue decreased by 3% and profit after tax (PAT) dropped by 619% between the financial year ending with March 31, 2025 and March 31, 2024.
Aequs IPO Lot Size
Investors can bid for a minimum of 120 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,880 |
| Retail (Max) | 13 | 1560 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1680 | ₹2,08,320 |
| S-HNI (Max) | 67 | 8040 | ₹9,96,960 |
| B-HNI (Min) | 68 | 8160 | ₹10,11,840 |
(All values in CR)
Aequs IPO Valuations
KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | -14.30 |
| ROCE | 0.87 |
| Debt/Equity | 0.99 |
| RoNW | -14.47 |
| PAT Margin | -11.07 |
| EBITDA Margin | 11.68 |
| Price to Book Value | 9.94 |
| Market Capitalization | 8316.06 |
(All values in CR)
Aequs IPO Strength & Risk
Aequs IPO Strength:
Operates as a vertically integrated precision manufacturing company with end-to-end capabilities.
Serves multiple sectors including aerospace, consumer durables, plastics, and electronics.
Strong presence in high-entry-barrier segments like aerospace components.
Established relationships with reputed global clients enhance credibility.
Global manufacturing footprint supports export opportunities and supply-chain efficiency.
Diversified product portfolio helps reduce dependence on any single segment.
Focus on expanding capacity and strengthening financial position through IPO funding.
Aequs IPO Risk:
High dependence on aerospace and precision manufacturing makes the business sensitive to sector cycles.
Customer concentration risk due to reliance on a few major global clients.
History of inconsistent profitability raises execution and turnaround risk.
Vulnerable to fluctuations in raw-material costs, supply-chain issues, and regulatory changes.
Large capital expenditure requirements may lead to under-utilisation risk if demand slows.
Strict quality and certification requirements increase operational and compliance pressures.
Exposure to global economic, geopolitical, and industry-specific uncertainties.
Aequs IPO Subscriptions Status
Aequs IPO subscribed 7.43 times. The public issue subscribed 23.68 times in the retail category, 0.69 times in QIB (Ex Anchor), and 9.99 times in the NII category by December 4, 2025 12:39:38 PM (Day 2).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 3,33,80,262 | 3,33,80,262 | 413.915 |
| QIB (Ex Anchor) | 0.69 | 2,22,41,733 | 1,52,70,480 | 189.35 |
| Non-Institutional Buyers | 9.99 | 1,11,24,399 | 11,11,52,280 | 1 |
| bNII (bids above ₹10L) | 8.12 | 74,16,266 | 6,01,92,720 | 746.39 |
| sNII (bids below ₹10L) | 13.74 | 37,08,133 | 5,09,59,560 | 631.9 |
| Retail | 23.68 | 74,16,266 | 17,56,25,280 | 2 |
| Employees | 11.78 | 1,76,991 | 20,84,880 | 25.85 |
| Total | 7.43 | 4,09,59,389 | 30,41,32,920 | 3 |
Aequs IPO GMP
Aequs IPO last GMP is ₹46.5, last updated Dec 4th 2025 12:02 PM. With the price band of 124.00, Aequs IPO's estimated listing price is ₹170.5 (cap price + today's GMP).The expected percentage gain/loss per share is 37.50%. >> Aequs IPO Retail Subject to Sauda: ₹4200 >> Aequs IPO Small HNI Subject to Sauda: ₹58800 The lowest GMP is ₹18.00, while the highest GMP is ₹46.50.
Last updated 04 Dec, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 04 Dec, 2025 | 124 | ₹46.5▲ | 4200/58800 | ₹170.5 (37.50%) | 5580 | 04 Dec, 2025 |
| 03 Dec, 2025 | 124 | ₹45.5▼ | 4100/57400 | ₹169.5 (36.69%) | 5460 | 03 Dec, 2025 |
| 02 Dec, 2025 | 124 | ₹46.5▲ | 4200/58800 | ₹170.5 (37.50%) | 5580 | 02 Dec, 2025 |
| 01 Dec, 2025 | 124 | ₹44.5▲ | 4100/57400 | ₹168.5 (35.89%) | 5340 | 01 Dec, 2025 |
| 30 Nov, 2025 | 124 | ₹43.5▲ | 4000/56000 | ₹167.5 (35.08%) | 5220 | 30 Nov, 2025 |
| 29 Nov, 2025 | 124 | ₹43▲ | 3900/54600 | ₹167 (34.68%) | 5160 | 29 Nov, 2025 |
| 28 Nov, 2025 | 124 | ₹40▲ | 3600/50400 | ₹164 (32.26%) | 4800 | 28 Nov, 2025 |
| 27 Nov, 2025 | 0 | ₹0 | - | ₹18 (0.00%) | - | 27 Nov, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Aequs IPO
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Go to IPO Section
Find Aequs IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Provide your UPI ID linked to your bank account and submit the application.
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Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.