Aequs IPO opens on D-Street; here’s what to know before you apply

Aequs IPO: Aequs Ltd, the Indian precision manufacturing and aerospace engineering company, launched its initial public offering (IPO) of Rs 921.81 crore on December 3. The public offer is a mix of fresh issuance and offer for sale (OFS) and will remain open for subscription till December 5, 2025. The issue has been subscribed 55 per cent so far, as per the provisional exchange data.

The basis of allotment of the IPO shares is expected to be finalised tentatively on December 8, 2025, and the stock is expected to list on both the stock exchanges (BSE and NSE) on December 10, 2025, tentatively.

According to the company's red-herring prospectus (RHP), JM Financial Ltd is the book-running lead manager, while Kfin Technologies Ltd is the registrar of the issue.

Add Zee Business as a Preferred Source

Aequs IPO subscription status

As of 11 am, investors have bid for 2.31 crore shares out of the total shares on offer. The subscription includes bids from institutional investors and retailers category who have bid 0.51 times and 2.22 times against their allotted portion.

Aequs IPO anchor investment details

The company has raised Rs 413 crore from anchor investors on December 2, ahead of the launch of its IPO. The anchor book saw participation from prominent institutions, including Smallcap World Fund, SBI MNC Fund, HDFC Mutual Fund, Nippon India Mutual Fund, BlackRock Global Fund, and DSP Dynamic Fund, among others.

Aequs IPO details

The Aequs IPO is a book-building issue of Rs 921.81 crore, which comprises a fresh issue of 5.40 crore equity shares worth Rs 670 crore and an offer-for-sale (OFS) of 2.03 crore equity shares worth Rs 251.81 crore.

Aravind Shivaputrappa Melligeri, Aequs Manufacturing Investments Private Limited, Melligeri Private Family Foundation and The Melligeri Foundation are the company promoters who are offloading their stakes through the OFS.

The IPO has reserved not less than 75 per cent, not more than 10 per cent and not more than 15 per cent of the net offer for the QIB, NII and retail investor categories, respectively.

The minimum amount of investment required by a retail investor is Rs 14,880, translating into a lot size of 120 shares (based on the upper end of the price band).

Aequs IPO price band

Aequs has priced its public offer at Rs 118 to Rs 124 per equity share.

Aequs IPO subscription date

The public offer of Aequs will be open for public subscription from December 3 to December 5, 2025.

Aequs IPO allotment date

The basis of allotment of the IPO shares is expected to be finalised on December 8, 2025, tentatively, followed by the crediting of shares to the successful subscribers and initiation of refunds to the unsuccessful bidders.

Aequs IPO listing date

The IPO stock is likely to list on both the stock exchanges (NSE and BSE) on December 10, 2025, tentatively.

How Aequs plans to use the IPO proceeds?

The funds will be used primarily for repayment or prepayment of outstanding borrowings, support capital expenditure for machinery and equipment, and towards inorganic growth, potential acquisitions, strategic initiatives, and general corporate purposes.

Aequs Limited company profile

Incorporated in 2000, Aequs Ltd primarily operates in the Aerospace Segment and deals in manufacturing components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for the aerospace clients.

Financially, the company reported a revenue decrease of 3 per cent, while the profit-after-tax (PAT) declined significantly by 619 per cent in FY24-25.