The primary market in India welcomed a significant new offering today as the initial public offering (IPO) of precision engineering firm Aequs Ltd opened for public subscription. The company aims to raise a substantial sum of nearly ₹922 crore from this public issue, marking a key event for the domestic aerospace manufacturing sector.
Aequs IPO: Key Dates and Financial Details
The subscription window for the Aequs IPO opened on Wednesday, December 3, 2025, and is scheduled to close on Friday, December 5, 2025. Investors keen on participating should note the upcoming critical dates. The basis of allotment for shares is tentatively set for December 8, 2025, with the equity shares expected to be listed and commence trading on both the BSE and NSE from December 10, 2025.
The total issue size is ₹921.81 crore. This comprises two components: a fresh issue of 5.40 crore equity shares aiming to raise ₹670 crore for the company, and an offer-for-sale (OFS) of 2.03 crore shares by existing promoters and shareholders, amounting to ₹251.81 crore. The company has set a price band of ₹118 to ₹124 for each equity share. For retail investors, the minimum lot size is set at 120 shares.
Strong Grey Market Premium Signals Investor Confidence
Even before the official subscription began, the grey market sentiment for Aequs shares has been notably bullish. According to market observers, the Aequs IPO GMP (Grey Market Premium) today has climbed to ₹46.5 per share. This grey market activity is often seen as an indicator of initial investor demand and listing day expectations.
This premium of ₹46.5 indicates that in the unofficial grey market, Aequs shares are trading at approximately ₹170.5 apiece. This represents a significant premium of about 37.5% over the upper end of the issue price band, which is ₹124 per share. Such a strong GMP suggests that the market anticipates a healthy listing gain for the stock, reflecting confidence in the company's niche business model and future prospects.
Company Profile and Issue Management
Aequs Ltd holds a unique position in the Indian manufacturing landscape. The company is recognized as the only precision component manufacturer in India that operates within a single Special Economic Zone (SEZ) while providing fully vertically integrated manufacturing capabilities specifically for the aerospace segment. This integrated model allows it to control the entire production process under one roof, potentially offering efficiency and quality advantages.
The book-running lead manager for this important public issue is JM Financial Ltd., which is overseeing the process. The registrar to the issue, responsible for handling application data, allotment, and refunds, is Kfin Technologies Ltd..
The successful subscription and subsequent listing of Aequs will be closely watched as a barometer for investor appetite in specialized, high-precision manufacturing companies within India's growing industrial ecosystem.
