The highly anticipated initial public offering (IPO) of Aequs Limited, a diversified contract manufacturer, has successfully closed its subscription window, paving the way for the final allotment of shares. The Aequs IPO allotment date is expected to be Monday, December 8, 2025. This marks a critical next step for the thousands of investors who bid for a stake in the company known for its work in aerospace and consumer durable goods.
Aequs IPO Allotment: Key Dates and Process
The ₹921.81 crore IPO was open for subscription from December 3 to December 5, 2025. The basis of allotment is now anticipated to be finalized on Monday, December 8. Successful applicants will see their shares credited to their demat accounts on Tuesday, December 9. For those who do not receive an allocation, the refund process will also be initiated on the same day. The company is scheduled to make its stock market debut with a listing on both the BSE and NSE on Wednesday, December 10, 2025.
How to Check Your Aequs IPO Allotment Status Online
Investors can check their Aequs IPO allotment status through multiple online portals starting from the allotment date. The process is straightforward and can be done via the stock exchange websites or the registrar's portal.
To check on BSE:
- Visit the BSE allotment status page on its official website.
- Select 'Equity' as the issue type.
- Choose 'Aequs' from the 'Issue Name' dropdown menu.
- Enter your PAN number and Application Number.
- Click 'Submit' to view your status.
To check on NSE:
- Visit the NSE IPO bid verification page.
- Select 'Equity & SME IPO bid details'.
- Choose 'Aequs' from the list of issues.
- Input your PAN and Application Number.
- Submit to see the result.
To check via the Registrar, Kfin Technologies:
- Go to the KfinTech IPO status portal.
- Select 'Aequs' from the 'Select Company' dropbox.
- Choose your identification method (Application Number, Client ID, or PAN).
- Enter the relevant details and the captcha code.
- Click 'Search' to display your allotment status.
Strong Investor Demand and Grey Market Premium (GMP)
The IPO witnessed overwhelming investor interest, closing with an overall subscription of 104.30 times. The demand was robust across all investor categories. The retail individual investor (RII) portion was subscribed 81.03 times, while non-institutional investors (NIIs) bid 83.61 times the shares reserved for them. The qualified institutional buyer (QIB) category saw the strongest demand, getting subscribed 122.93 times. In total, the company received bids for 427.19 crore shares against the 4.09 crore shares on offer.
Reflecting this strong sentiment, the Aequs grey market premium (GMP) stood at ₹43 as of December 6. This GMP suggests a potential listing price of around ₹167 per share, which would represent a premium of approximately 34.68% over the upper end of the IPO price band of ₹124. The grey market premium indicates the premium investors in the unofficial market are willing to pay over the issue price before the official listing.
IPO Details and Use of Proceeds
The Aequs IPO was a book-built issue comprising a fresh issue of 5.40 crore shares aggregating to ₹670.00 crore and an offer for sale (OFS) of 2.03 crore shares worth ₹251.81 crore. The price band was set at ₹118 to ₹124 per share. The minimum lot size for application was 120 shares, requiring a minimum investment of ₹14,880 for retail investors at the upper price.
The capital raised from the fresh issue will be utilized for several strategic purposes. A significant portion is earmarked for the repayment of borrowings taken by Aequs and its subsidiaries—AeroStructures Manufacturing India and Aequs Consumer Products. Funds will also go towards the purchase of machinery and equipment for the company and AeroStructures. The remaining proceeds are intended to support future growth through potential acquisitions, other strategic initiatives, and general corporate purposes.
The lead managers overseeing the IPO were JM Financial Limited, IIFL Capital Services Limited, and Kotak Mahindra Capital Company Limited. KFin Technologies Limited acted as the registrar for the issue.
While Aequs has a strong foundation in the aerospace sector, it has strategically diversified into consumer electronics, plastics, and durable goods. Its consumer products division manufactures items like cookware and small home appliances. The plastics division produces outdoor toys, figurines, toy vehicles, and precision components for consumer electronics such as laptops and smart devices, showcasing its versatile manufacturing capabilities.
