Aequs IPO 2025: Aerospace Powerhouse Goes Public – Date, Price ₹118-124, Lot Size 120 | IPO Ji Review

Aequs IPO 2025: Aerospace Powerhouse Goes Public – Date, Price ₹118-124, Lot Size 120 | IPO Ji Review

Hey IPO Ji fam! 🚀 India's aerospace manufacturing king Aequs is dropping a ₹921.81 crore IPO on Dec 3, 2025 – price band ₹118-₹124, lot size 120 shares (just ₹14,880 min for retail). This vertically integrated precision components maker for Airbus/Boeing planes is your ticket to "Make in India" aerospace boom, but with losses and debt – high risk, high reward?​


Aequs IPO At-a-Glance 

Key Fact

Details

Open/Close

Dec 3-5, 2025 (Anchor Dec 2?) ​

Price Band

₹118-₹124 (FV ₹10, Employee discount ₹11) ​

Issue Size

₹921.81 Cr (Fresh ₹670 Cr + OFS ₹251.81 Cr) ​

Lot Size

120 shares (Retail min ₹14,880 @ upper) ​

Listing

Dec 10, 2025 BSE/NSE ​

Valuation

~₹8,316 Cr market cap ​

Leads

JM Financial, IIFL, Kotak ​

Registrar

Kfin Tech ​


Lot Size Decoder – Pick Your Play

Retail (Max 13 Lots – Up to ₹2L):

  • 1 Lot: 120 shares = ₹14,880
  • 5 Lots: 600 shares = ₹74,400
  • Max: 1,560 shares = ₹1,93,440​

sHNI (₹2-10L): Min 14 lots = 1,680 shares = ₹2,08,320​

bHNI (₹10L+): Min 68 lots = 8,160 shares = ₹10,11,840​

JS Calculator for Your Site:


Aequs in 60 Secs – Aerospace SEZ Beast

Founded 2000, Aequs runs India's only single-SEZ fully integrated aero manufacturing – machining/forging/assembly for engines, landing gear, structures (A320/B737 to A350/B787). Over 5,000 products, 1,892 employees, ops in India/France/US.​


Financial Dashboard

Metric (₹ Cr)

FY23

FY24

FY25

Revenue

841

988

959

PAT

-110

-14

-102

EBITDA

63

146

108

Net Worth

252

807

708

Debt

346

292

437

Valuation Check: EPS -1.66 (pre) / -0.51 (post), P/E -75/-245, P/B 9.94. ROE -14%, ROCE 0.87%.​


IPO Funds 

Fresh ₹670 Cr Breakdown:​

  1. Debt Repay: ₹433 Cr (company + 3 subs like AeroStructures)
  2. Machinery: ₹64 Cr (expand aero capacity)
  3. Acquisitions + Corporate: Balance

OFS: Promoters (64% holding) cash out ₹252 Cr.​


Aequs Timeline – Lock These Dates!

IPO Event

Date

IPO Open

Wed Dec 3

IPO Close

Fri Dec 5 (5PM UPI)

Allotment

Mon Dec 8

Refunds/Demat

Tue Dec 9

Listing

Wed Dec 10 BSE/NSE


Live Track:  Aequs GMP  |  Sub Status

Aequs IPO Peer Comparison

Aequs Ltd. peer comparison with similar listed entities. (As on March 31, 2025)

Company Name

EPS (Basic)

EPS (Diluted)

NAV (per share) (Rs)

P/E (x)

RoNW (%)

P/BV Ratio

Financial statements

Aequs Ltd.

-1.80

-1.80

12.47


-14.47


Consolidated

Azad Engineering Limited

14.66

14.66

234.06

115.48

6.21

7.24

Consolidated

Unimech Aerospace And Manufacturing Limited

17.59

17.59

141.01

55.73

12.48

6.95

Consolidated

Amber Enterprises India Limited

72.01

71.67

672.61

100.40

10.99

10.71

Consolidated

Kaynes Technology India Limited

45.82

45.40

439.85

129.59

10.33

13.40

Consolidated

Dixon Technologies (india) Limited

205.70

202.58

494.74

73.87

47.50

30.29

Consolidated

Ptc Industries Limited

41.37

41.33

940.03

417.03

4.40

18.34

Consolidated

All the financial information of the Company mentioned above has been derived from the Restated Consolidated Financial Information as at and for the financial year ended March 31, 2025.

How to Apply for Aequs IPO via IPO Ji App?

Applying for IPOs is now seamless with the IPO Ji App. Follow these steps:

  1. Download & Register on IPO Ji App.
  2. Go to the Aequs IPO Page.
  3. Select your Investor Category (Retail / HNI / QIB).
  4. Enter UPI ID, Lot Size, and Price.
  5. Confirm UPI mandate on your banking app.
  6. Track allotment status and listing updates directly on IPO Ji.

Aequs IPO FAQ

Q: When is the Aequs IPO date?

A: The IPO opens on December 3, 2025, and closes on December 5, 2025.

Q: What is the lot size for Aequs IPO?

A: The lot size is 120 shares, with a minimum investment of approximately ₹14,880.

Q: What is the Aequs IPO price band?

A: The price band is ₹118 to ₹124 per share.

Q: Is Aequs profitable?

A: No, Aequs reported a loss of ₹102 crore in FY25, but EBITDA was positive.

Q: Where can I check the Aequs Grey Market Premium (GMP)?

A: You can check the latest GMP on platforms like IPO Ji Live.

Q: When is the allotment and listing date?

A: Allotment is expected on December 8, 2025, refunds and demat credit on December 9, 2025, and listing on BSE and NSE on December 10, 2025.​