Aequs IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Dec 03 to Dec 05 2025
Price Band
₹118 - 124
Current GMP
₹140.0 (+12.90%)
Subscription
104.30 times
IPO Details
| IPO Date | Wed, Dec 3, 2025 to Fri, Dec 5, 2025 |
| Listing Date | Wed, Dec 10, 2025 |
| Face Value | ₹ 10 per share |
| Price Band | ₹118 to ₹124 |
| Issue Price | ₹124 per share |
| Lot Size | 120 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹ 11.00 |
| Total Issue Size | 7,43,39,651 shares (aggregating up to ₹ 921.81 Cr) |
| Fresh Issue | 5,40,32,258 shares (aggregating up to ₹ 670.00 Cr) |
| Offer for Sale | 2,03,07,393 shares of ₹ 10 (aggregating up to ₹ 251.81 Cr) |
| Share Holding Pre Issue | 61,66,17,677 shares |
| Share Holding Post Issue | 67,06,49,935 shares |
| BSE Script Code / NSE Symbol | 544634 / AEQUS |
| ISIN | INE947N01017 |
IPO Date
Wed, Dec 3, 2025 to Fri, Dec 5, 2025
Listing Date
Wed, Dec 10, 2025
Face Value
₹ 10 per share
Price Band
₹118 to ₹124
Issue Price
₹124 per share
Lot Size
120 Shares
Sale Type
Fresh Capital-cum-Offer for Sale
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Employee Discount
₹ 11.00
Total Issue Size
7,43,39,651 shares (aggregating up to ₹ 921.81 Cr)
Fresh Issue
5,40,32,258 shares (aggregating up to ₹ 670.00 Cr)
Offer for Sale
2,03,07,393 shares of ₹ 10 (aggregating up to ₹ 251.81 Cr)
Share Holding Pre Issue
61,66,17,677 shares
Share Holding Post Issue
67,06,49,935 shares
BSE Script Code / NSE Symbol
544634 / AEQUS
ISIN
INE947N01017
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 122.93 |
| Non-Institutional Buyers | 83.61 |
| bNII (bids above ₹10L) | 79.86 |
| sNII (bids below ₹10L) | 91.13 |
| Retail Investors | 81.03 |
| Employees | 37.86 |
| Total ** | 104.30 |
Anchor Investors
1
QIB (Ex Anchor)
122.93
Non-Institutional Buyers
83.61
bNII (bids above ₹10L)
79.86
sNII (bids below ₹10L)
91.13
Retail Investors
81.03
Employees
37.86
Total **
104.30
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | EMP | Total |
|---|---|---|---|---|---|---|---|
| Day 1 Dec 3, 2025 | 0.68 | 3.55 | 2.98 | 4.68 | 12.16 | 7.38 | 3.56 |
| Day 2 Dec 4, 2025 | 0.75 | 17.50 | 14.14 | 24.21 | 34.57 | 16.32 | 11.49 |
| Day 3 Dec 5, 2025 | 122.93 | 83.61 | 79.86 | 91.13 | 81.03 | 37.86 | 104.30 |
DayDay 1
Dec 3, 2025
QIB (Ex Anchor)0.68
NII3.55
NII (> ₹10L)2.98
NII (< ₹10L)4.68
Retail12.16
EMP7.38
Total3.56
DayDay 2
Dec 4, 2025
QIB (Ex Anchor)0.75
NII17.50
NII (> ₹10L)14.14
NII (< ₹10L)24.21
Retail34.57
EMP16.32
Total11.49
DayDay 3
Dec 5, 2025
QIB (Ex Anchor)122.93
NII83.61
NII (> ₹10L)79.86
NII (< ₹10L)91.13
Retail81.03
EMP37.86
Total104.30
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 08-12-2025 | 124.00 | 34(27.42%) | 158 |
| 07-12-2025 | 124.00 | 37(29.84%) | 161 |
| 06-12-2025 | 124.00 | 39(31.45%) | 163 |
| 05-12-2025 | 124.00 | 43(34.68%) | 167 |
| 04-12-2025 | 124.00 | 41(33.06%) | 165 |
| 03-12-2025 | 124.00 | 45.5(36.69%) | 169.5 |
| 02-12-2025 | 124.00 | 46.5(37.50%) | 170.5 |
| 01-12-2025 | 124.00 | 44.5(35.89%) | 168.5 |
| 30-11-2025 | 124.00 | 43.5(35.08%) | 167.5 |
| 29-11-2025 | 124.00 | 43(34.68%) | 167 |
| 28-11-2025 | 124.00 | 40(32.26%) | 164 |
| 27-11-2025 | 0 | 18(0.00%) | 18 |
Date08-12-2025
Price124.00
GMP34(27.42%)
Estimate List Price158
Date07-12-2025
Price124.00
GMP37(29.84%)
Estimate List Price161
Date06-12-2025
Price124.00
GMP39(31.45%)
Estimate List Price163
Date05-12-2025
Price124.00
GMP43(34.68%)
Estimate List Price167
Date04-12-2025
Price124.00
GMP41(33.06%)
Estimate List Price165
Date03-12-2025
Price124.00
GMP45.5(36.69%)
Estimate List Price169.5
Date02-12-2025
Price124.00
GMP46.5(37.50%)
Estimate List Price170.5
Date01-12-2025
Price124.00
GMP44.5(35.89%)
Estimate List Price168.5
Date30-11-2025
Price124.00
GMP43.5(35.08%)
Estimate List Price167.5
Date29-11-2025
Price124.00
GMP43(34.68%)
Estimate List Price167
Date28-11-2025
Price124.00
GMP40(32.26%)
Estimate List Price164
Date27-11-2025
Price0
GMP18(0.00%)
Estimate List Price18
IPO Important Dates
| IPO Open Date | Wed, Dec 3, 2025 |
| IPO Close Date | Fri, Dec 5, 2025 |
| Tentative Allotment | Mon, Dec 8, 2025 |
| Initiation of Refunds | Tue, Dec 9, 2025 |
| Credit of Shares to Demat | Tue, Dec 9, 2025 |
| Tentative Listing Date | Wed, Dec 10, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 5, 2025 |
IPO Open Date
Wed, Dec 3, 2025
IPO Close Date
Fri, Dec 5, 2025
Tentative Allotment
Mon, Dec 8, 2025
Initiation of Refunds
Tue, Dec 9, 2025
Credit of Shares to Demat
Tue, Dec 9, 2025
Tentative Listing Date
Wed, Dec 10, 2025
Cut-off time for UPI mandate confirmation
5 PM on Fri, Dec 5, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,880 |
| Retail (Max) | 13 | 1,560 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,680 | ₹2,08,320 |
| S-HNI (Max) | 67 | 8,040 | ₹9,96,960 |
| B-HNI (Min) | 68 | 8,160 | ₹10,11,840 |
ApplicationRetail (Min)
Lots1
Shares120
Amount₹14,880
ApplicationRetail (Max)
Lots13
Shares1,560
Amount₹1,93,440
ApplicationS-HNI (Min)
Lots14
Shares1,680
Amount₹2,08,320
ApplicationS-HNI (Max)
Lots67
Shares8,040
Amount₹9,96,960
ApplicationB-HNI (Min)
Lots68
Shares8,160
Amount₹10,11,840
Financial Information
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|---|
| Assets | 2,134.35 | 1,859.84 | 1,863.50 | 1,822.98 | 1,321.69 |
| Total Income | 565.55 | 959.21 | 475.51 | 988.30 | 840.54 |
| Profit After Tax | -16.98 | -102.35 | -71.70 | -14.24 | -109.50 |
| EBITDA | 84.11 | 107.97 | 57.82 | 145.51 | 63.06 |
| NET Worth | 796.04 | 707.53 | 731.65 | 807.17 | 251.91 |
| Reserves and Surplus | 200.43 | 135.09 | -90.83 | -15.31 | -146.15 |
| Total Borrowing | 533.51 | 437.06 | 384.79 | 291.88 | 346.14 |
Period EndedAssets
30 Sep 20252,134.35
31 Mar 20251,859.84
30 Sep 20241,863.50
31 Mar 20241,822.98
31 Mar 20231,321.69
Period EndedTotal Income
30 Sep 2025565.55
31 Mar 2025959.21
30 Sep 2024475.51
31 Mar 2024988.30
31 Mar 2023840.54
Period EndedProfit After Tax
30 Sep 2025-16.98
31 Mar 2025-102.35
30 Sep 2024-71.70
31 Mar 2024-14.24
31 Mar 2023-109.50
Period EndedEBITDA
30 Sep 202584.11
31 Mar 2025107.97
30 Sep 202457.82
31 Mar 2024145.51
31 Mar 202363.06
Period EndedNET Worth
30 Sep 2025796.04
31 Mar 2025707.53
30 Sep 2024731.65
31 Mar 2024807.17
31 Mar 2023251.91
Period EndedReserves and Surplus
30 Sep 2025200.43
31 Mar 2025135.09
30 Sep 2024-90.83
31 Mar 2024-15.31
31 Mar 2023-146.15
Period EndedTotal Borrowing
30 Sep 2025533.51
31 Mar 2025437.06
30 Sep 2024384.79
31 Mar 2024291.88
31 Mar 2023346.14
Key Performance Indicator
| ROE | -14.30 |
| ROCE | 0.87 |
| Debt/Equity | 0.99 |
| RoNW | -14.47 |
| PAT Margin | -11.07% |
| EBITDA Margin | 11.68% |
| Price to Book Value | 9.94 |
ROE
-14.30
ROCE
0.87
Debt/Equity
0.99
RoNW
-14.47
PAT Margin
-11.07%
EBITDA Margin
11.68%
Price to Book Value
9.94
IPO Reservation
| QIB Shares Offered | 5,56,21,995 (74.82%) |
| − Anchor Investor Shares Offered | 3,33,80,262 (44.90%) |
| − QIB (Ex. Anchor) Shares Offered | 2,22,41,733 (29.92%) |
| NII (HNI) Shares Offered | 1,11,24,399 (14.96%) |
| − bNII > ₹10L | 74,16,266 (9.98%) |
| − sNII < ₹10L | 37,08,133 (4.99%) |
| Retail Shares Offered | 74,16,266 (9.98%) |
| Employee Shares Offered | 1,76,991 (0.24%) |
| Total Shares Offered | 7,43,39,651 (100.00%) |
QIB Shares Offered
5,56,21,995 (74.82%)
− Anchor Investor Shares Offered
3,33,80,262 (44.90%)
− QIB (Ex. Anchor) Shares Offered
2,22,41,733 (29.92%)
NII (HNI) Shares Offered
1,11,24,399 (14.96%)
− bNII > ₹10L
74,16,266 (9.98%)
− sNII < ₹10L
37,08,133 (4.99%)
Retail Shares Offered
74,16,266 (9.98%)
Employee Shares Offered
1,76,991 (0.24%)
Total Shares Offered
7,43,39,651 (100.00%)
Information about company
Incorporated in 2000, Aequs Ltd. is engaged in manufacturing and operating a special economic zone in India to offer fully vertically integrated manufacturing capabilities in the Aerospace Segment.
The company's diverse product portfolio includes components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for the aerospace clients.
The company primarily operate in the Aerospace Segment, over the years, they have expanded their product portfolio to include consumer electronics, plastics, and consumer durables for their consumer clients.
As of September 30, 2025, the company produced over 5,000 products within the Aerospace Segment under a variety of manufacturing and assembly programs established with their aerospace customers, including programs for single aisle (such as A220, A320, B737) and long range (A330, A350, B777, B787) commercial aircrafts.
Product Portfolio:
As of September 30, 2025, the company had 1,892 full-time employees, 1,834 employees on a contractual basis, 55 trainees, 432 apprentices and 325 fixed term employees.
Competitive Strengths:
Objectives of IPO
The Company Aequs IPO proposes to utilise the Net Proceeds from the Issue towards the following objects: S.No. Objects of the Issue Expected Amount (₹ in crores) 1 Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable, availed by: 433.17 2 The Company 17.55 3 three of the wholly-owned Subsidiaries, through investment in the below Subsidiaries 415.62 4 AeroStructures Manufacturing India Private Limited 174.82 5 Aequs Consumer Products Private Limited 231.16 6 Aequs Engineered Plastics Private Limited 9.63 7 Funding capital expenditure to be incurred on account of purchase of machinery and equipment by company & wholly-owned Subsidiaries, AeroStructures Manufacturing India Private Limited, through investment in such Subsidiary 64.00 8 Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes 125.21
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