Aequs IPO: Key Dates and Investment Details
The much-anticipated initial public offering (IPO) of Aequs Limited is scheduled to open for subscription next week. This significant event in the Indian stock market will provide investors with an opportunity to own a part of a leading contract manufacturing firm. The public offer is a book-built issue with a total size of ₹921.81 crore.
The bidding process for the Aequs IPO will commence on Wednesday, December 3, and conclude on Friday, December 5. A day prior to the public opening, on Tuesday, December 4, the company will open the anchor investor portion of the offer.
Financial Structure and Price Band
The Aequs IPO is a combination of a fresh issue of shares and an offer for sale. The company will issue 5.40 crore new shares, aiming to raise ₹670.00 crore. Additionally, there is an offer for sale of 2.03 crore shares aggregating to ₹251.81 crore.
The company has fixed the price band for its IPO at ₹118 to ₹124 per equity share. Each share has a face value of ₹10. As a benefit for its workforce, Aequs is offering an employee discount of ₹11 per share. For retail investors, the minimum investment starts with one lot, which consists of 120 equity shares. This translates to a minimum application amount of ₹14,880, calculated at the upper end of the price band.
Strong Investor Interest and Grey Market Premium
The IPO has already generated considerable buzz in the market, as reflected by its Grey Market Premium (GMP). The latest Aequs IPO GMP was reported at ₹43 per equity share. This indicates that the estimated listing price, considering the upper price band of ₹124, is around ₹167 per share. This represents a potential listing gain of 34.68% over the IPO price, signaling robust investor appetite.
The allocation of shares has been strategically planned. Not less than 75% of the offer is reserved for Qualified Institutional Buyers (QIBs). Non-Institutional Investors (NIIs) have access to not more than 15% of the shares, while retail investors have a reservation of not more than 10% of the total public issue.
Utilization of Proceeds and Company Profile
Aequs has outlined clear objectives for the capital raised through the fresh issue. A significant portion will be directed towards the repayment and prepayment of outstanding borrowings for the company and its subsidiaries. The funds will also fuel capital expenditure for purchasing new machinery and equipment. Furthermore, the company plans to use the proceeds to fund inorganic growth initiatives through acquisitions.
Incorporated in the year 2000, Aequs has established itself as a specialized contract manufacturer in the consumer durable goods and aerospace sectors. The company boasts fully vertically integrated manufacturing capabilities in aerospace. According to its red herring prospectus (RHP), Aequs had produced over 5,000 products within the aerospace segment by September 30, 2025. As of March 31, 2025, the company claimed to possess one of the largest portfolios of aerospace products in India.
The share allotment for the Aequs IPO is expected to be finalized on Monday, December 8. Successful allottees will see the shares credited to their demat accounts on Tuesday, December 9, which is also the day refunds will be initiated for unsuccessful bidders. The shares of Aequs Limited are likely to make their stock market debut on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on Wednesday, December 10.
JM Financial is acting as the book-running lead manager for the issue, while Kfin Technologies Ltd. is the official registrar.
