Apsis Aerocom IPO Attracts Strong Market Attention as Subscription Crosses 15x; GMP Signals Positive Listing Outlook

Precision Engineering Firm Apsis Aerocom Taps SME Market With ₹35.77 Crore IPO to Expand Manufacturing Capabilities

The Apsis Aerocom IPO has entered the primary market with a book-built public issue worth ₹35.77 crore, drawing strong attention from investors as demand continues to build across retail and non-institutional categories. The company is seeking fresh capital through the issuance of 0.33 crore equity shares, with the entire issue comprising a fresh issue, meaning the proceeds will be used directly to support the company’s expansion and operational plans.

The SME offering opened for subscription on March 11, 2026, and will close on March 13, 2026, giving investors a three-day window to participate in the public issue. Following the closure of the bidding period, the company is expected to finalize the basis of allotment on March 16, 2026, while the shares are tentatively scheduled to debut on the National Stock Exchange of India SME platform on March 18, 2026.

The IPO comes at a time when SME listings have been witnessing heightened investor participation, particularly in engineering and manufacturing companies catering to high-technology industries.

Also Check :

• IPO
• Nifty 50
• Bank Nifty
• Sensex

Apsis Aerocom IPO Price Band, Lot Size and Investment Requirements for Retail and HNI Investors

The company has set the price band for the IPO at ₹104 to ₹110 per share, allowing investors to bid within this range during the book-building process. At the upper price band of ₹110, the issue values the company within the typical valuation range observed in SME public offerings.

The lot size has been fixed at 1,200 shares, meaning applications must be submitted in multiples of this quantity.

For retail investors, the minimum application size is two lots or 2,400 shares, translating into a minimum investment of approximately ₹2,64,000 at the upper price band.

Meanwhile, non-institutional investors (HNIs/NIIs) are required to apply for a minimum of three lots or 3,600 shares, which amounts to an investment of about ₹3,96,000.

The shares carry a face value of ₹10 per share, and the IPO follows the book-building mechanism, where the final price is determined based on demand generated during the subscription period.

Read More : Inflation Edges Up — Is Price Pressure Slowly Returning to the Economy?

Apsis Aerocom IPO Key Details at a Glance

Strong Subscription Momentum Builds as Retail and HNI Investors Drive Demand

The IPO has already witnessed robust investor participation, with demand accelerating significantly during the first two days of bidding.

As of March 12, 2026 (Day 2), the IPO was subscribed 15.56 times overall, reflecting strong appetite for the SME offering.

The category-wise subscription figures highlight a clear pattern of demand:

• Retail Individual Investors (RII): 18.17 times

• Non-Institutional Investors (NII): 30.37 times

• Qualified Institutional Buyers (QIB Ex-Anchor): 0.01 times

Within the NII category, demand was particularly strong among larger investors:

• bNII (applications above ₹10 lakh): 36.17 times

• sNII (applications below ₹10 lakh): 18.75 times

Overall, investors bid for 3,37,71,600 shares against the 21,70,800 shares available for bidding, indicating strong oversubscription levels. Retail participation remained particularly strong, with more than 8,000 applications recorded from individual investors.

Detailed Breakdown of Apsis Aerocom IPO Share Allocation

The Apsis Aerocom SME IPO consists of 32,52,000 equity shares, representing the total issue size of approximately ₹35.77 crore.

The allocation of shares has been distributed across different investor categories to ensure balanced participation:

• Qualified Institutional Buyers (QIBs): 15,39,600 shares (47.34%)

• Anchor Investors: 9,15,600 shares (28.15%)

• QIB (Ex-Anchor Portion): 6,24,000 shares (19.19%)

• Non-Institutional Investors: 4,64,400 shares (14.28%)

• Retail Investors: 10,82,400 shares (33.28%)

Additionally, 1,65,600 shares have been reserved for the market maker, Basan Equity Broking Ltd., which will provide liquidity support once the shares begin trading in the secondary market.

The net offer to the public stands at 30,86,400 shares, valued at approximately ₹34 crore.

Following the completion of the IPO, the company’s shareholding base will expand from 87,99,921 shares to 1,20,51,921 shares, strengthening its capital structure.

Grey Market Premium Indicates Positive Sentiment Ahead of Listing

The grey market premium (GMP) for the Apsis Aerocom IPO has remained positive in the unofficial market, reflecting investor optimism regarding the potential listing performance.

As of March 12, 2026, the latest GMP stands at ₹18 per share.

Based on the upper price band of ₹110, the estimated listing price is around ₹128 per share, suggesting a potential listing gain of approximately 16.36%.

The GMP trend over the past few days indicates fluctuating but positive sentiment:

• March 11, 2026: GMP ₹23 (estimated listing price ₹133)

• March 10, 2026: GMP ₹9 (estimated listing price ₹119)

• Earlier sessions: ₹0 GMP

While grey market trends often reflect investor sentiment, analysts emphasize that GMP is unofficial and can change rapidly, making it an unreliable standalone indicator for investment decisions.

Inside Apsis Aerocom’s Business Model and Manufacturing Capabilities

APSIS Aerocom Limited, incorporated in 2022, operates in the precision engineering sector, manufacturing high-precision components for aerospace, defence, and healthcare industries.

The company runs its primary manufacturing facility in the Peenya Industrial Area in Bengaluru, a major industrial hub known for advanced manufacturing companies. The production facility is divided into two units — Shed 1 (eastern portion) and Shed 2 (western portion).

These facilities are equipped with advanced CNC machines capable of machining parts up to 1,200 mm in length, enabling the company to manufacture complex engineering components.

The company integrates CAD/CAM-based design systems, process development capabilities, and precision machining, allowing it to deliver components that meet strict specifications provided by clients.

APSIS Aerocom’s offerings support complex engineering systems and include services such as:

• Precision machined components

• Surface finishing solutions

• Assembly services

• Quality control and inspection

• Final product delivery

The company has established a domestic footprint across Karnataka, Telangana, and Maharashtra, while also expanding internationally with customers in the United States, Netherlands, Spain, and Israel.

As of September 30, 2025, APSIS Aerocom employed 105 personnel, including promoters and technical staff, and provides end-to-end manufacturing capabilities from design drawings supplied by clients to final product delivery for both domestic and global customers.

IPO Management Team and Key Intermediaries Handling the Issue

The IPO process is being managed by experienced market intermediaries responsible for handling subscriptions, allotments, and listing procedures.

• Book Running Lead Manager: Oneview Corporate Advisors Pvt. Ltd.

• Registrar to the Issue: Integrated Registry Management Services Pvt. Ltd.

• Market Maker: Basan Equity Broking Ltd.

These entities play a critical role in ensuring transparency, regulatory compliance, and efficient handling of the IPO process.

Key Dates Investors Should Track From IPO Subscription to Listing

The public issue follows a clearly defined timeline that guides investors through the IPO lifecycle.

Important dates include:

• IPO Opening Date: March 11, 2026

• IPO Closing Date: March 13, 2026

• Allotment Finalization: March 16, 2026

• Refund Initiation: March 17, 2026

• Shares Credited to Demat Accounts: March 17, 2026

• Expected Listing Date: March 18, 2026

Once listed, the shares will begin trading on the NSE SME platform, providing liquidity and price discovery in the secondary market.

How Investors Can Check Apsis Aerocom IPO Allotment Status Online

Investors who have applied for the IPO will be able to check their allotment status once the registrar finalizes the share allocation.

The process involves visiting the registrar’s allotment page and following these steps:

1. Select Apsis Aerocom Limited from the issuer list

2. Enter PAN number, IPO application number, or Demat account details

3. Submit the information to view the result

The page will display details including the number of shares applied and the number of shares allotted.

Understanding the Basis of Allotment in Oversubscribed IPOs

After the subscription period ends, the registrar prepares the Basis of Allotment (BOA) document, which determines how shares are distributed among investors.

This document provides insights into:

• The number of applications received in each category

• The shares reserved for each investor segment

• The allocation ratios applied during allotment

For instance, if the allotment ratio is 1:10, it means that only one out of ten applicants will receive one IPO lot.

The BOA ensures transparency and fairness in the IPO allocation process.

Overall, the Apsis Aerocom SME IPO has generated strong early demand, particularly from retail and high-net-worth investors. With a healthy oversubscription level and positive grey market sentiment, market participants will closely watch the final subscription numbers, allotment results on March 16, and the listing performance scheduled for March 18.