Aequs Limited IPO

Mainboard

Aerospace & Defense

Listed On: Dec 10, 2025 at ₹ 140.0(NSE)

₹ 14880 /120 Shares

Check Allotment

03 Dec, 2025

Open Date

05 Dec, 2025

Close Date

08 Dec, 2025

Allotment Date

10 Dec, 2025

Listing Date

Price Summary

Last Closing

135.00 (8.87%)

52 Week High

165.40

52 Week Low

134.01

Last Update

16-Jan-2026 3:30 PM

Expected Premium

+ ₹24-25 (19.35%)

*Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Aequs Limited IPO IPO Live Subscription Details

View Subscription Details

QIB 122.93x

Retail 80.95x

NIIs 83.61x

BHNI 79.86x

SHNI 91.13x

Retail 80.95x

EMP 37.86x

Total 104.28x

Last updated: 05 Dec 2025, 05:57 PM

Aequs Limited IPO IPO Issue Details

Issue Price ₹118-124 per equity share
Face Value ₹10 Per Equity Share
Total Issue Size 7,43,39,651 shares(aggregating up to ₹921.81 crore)
Fresh Share 5,40,32,258 shares(aggregating up to ₹670 crore)
Offer For Sale 2,03,07,393 shares(aggregating up to ₹251.81 crore)
Listing at BSE, NSE
List Price 140.0(NSE)
Listing Date 2025-12-10
Lead Manager JM Financial Ltd
IIFL Capital Services Ltd
Kotak Mahindra Capital Co.Ltd
Registrar Kfin Technologies Limited

Market Lot Size

Investors can bid for a minimum of 120 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (min)	1	120	₹14,880
Retail(max)	13	1,560	₹1,93,440
SHNI(min)	14	1,680	₹2,08,320
SHNI(max)	67	8,040	₹9,96,960
BHNI(min)	68	8,160	₹10,11,840

Aequs Limited IPO IPO Reservation

Aequs Limited IPO IPO offers total 74339650 shares. Out of which 22241733 (29.92%) allocated to QIB, 11124399 (14.96%) allocated to NII,7416266 (9.98%) allocated to RII, 176991 (1.76%) allocated to employees and 33380262 (44.9%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	33380262 (44.9%)
QIB Shares Offered	22241733 (29.92%)
NII (HNI) Shares Offered	11124399 (14.96%)
bNII > ₹10L	7416266 (10%)
sNII < ₹10L	3708133 (5%)
Retail Shares Offered	7416266 (9.98%)
Employee Shares Offered	176991 (1.76%)
Total Shares Offered	74339650 (100%)

Aequs Limited IPO IPO Documents

DRHP

RHP

ANCHOR

Aequs Limited IPO IPO Details

Aequs Limited IPO IPO is a book-built issue of ₹921.81 crores, The total issue size is ₹921.81 crores. The IPO of Aequs Limited IPO is priced at ₹118-124 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Dec 3, 2025 and ends on Dec 5, 2025. The allotment for Aequs Limited IPO IPO will be finalized on Dec 8, 2025. Aequs Limited IPO IPO will be listed on BSE, NSE, with a tentative listing date fixed as Dec 10, 2025. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 120 shares, extendable to 14,880. S-HNIs will be able to bid for 1,680 shares at ₹2,08,320, while B-HNIs can also apply for a bid of 8,160 shares at ₹10,11,840. The book-running lead manager for the IPO is/are JM Financial Ltd, IIFL Capital Services Ltd, Kotak Mahindra Capital Co.Ltd.

The total issue ₹921.81 crore, comprising a fresh issue of 5,40,32,258 shares ₹670 crore and having Offer for Sale (OFS) of 2,03,07,393 shares to mop up ₹251.81 crore.

The Aequs Limited IPO IPO sets its price band at 118-124 for each share. A single application for Aequs Limited IPO must contain at least 120 shares. Sentiment investors need to invest a minimum of 120 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,880 In order to participate in the sNII, investors must purchase at least 14 lots of 1,680 shares for ₹2,08,320, while the bNII requires 68 lots of 8,160 shares for an investment of ₹10,11,840.

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	2,22,41,733	1,11,24,399 74,16,266 37,08,133	74,16,266	4,09,59,389
Day 1 03-12-25 05:00 PM	0.68 x	3.54 x 2.98 x 4.65 x	11.97 x	3.52 x
Day 2 04-12-25 05:00 PM	0.75 x	17.46 x 14.14 x 24.10 x	34.24 x	11.42 x
Day 3 05-12-25 05:00 PM	122.93 x	83.61 x 79.86 x 91.13 x	80.95 x	104.28 x

Total No of Applications

44,55,165

Subscription on the basis of Applications

Retail:67.17x BHNI:15.9x SHNI:86.53x

Aequs Limited IPO Valuations

EPS Pre IPO ₹-1.66/-

EPS Post IPO ₹-0.51/-

ROE -14.30%

Debt/Equity 0.99

RoNW -14.47%

PAT Margin -11.07%

EBITDA Margin 11.68%

Price to Book Value 9.94

Market Cap. 8316.06 Cr.

Aequs Limited IPO Company Financials

In Crs.

In Cr.

	30-Sep-25	31-Mar-25	30-Sep-24	31-Mar-24	31-Mar-23
Assets	2134.35	1859.84	1863.50	1822.98	1321.69
Revenue	565.55	959.21	475.51	988.30	840.54
Profit After Tax	-16.98	-102.35	-71.70	-14.24	-109.50
Net Worth	796.04	707.53	731.65	807.17	251.91
Reserves & Surplus	200.43	135.09	-90.83	-15.31	-146.15
Total Borrowing	533.51	437.06	384.79	291.88	346.14

About Aequs Limited IPO Company

Aequs is a diversified contract manufacturing company that facilitates large-scale and timely production of complex products, meeting the demanding needs of global Original Equipment Manufacturers (OEMs) in both the aerospace and consumer sectors. The company works within three specific, engineering-led vertically integrated precision manufacturing “ecosystems” in India that can offer “one-stop-shop” capabilities. This leads to various benefits: better quality management, cost and working capital efficiencies, reduced lead times, and lower global carbon emissions.

Aequs Limited IPO - Promoter(s)

Aravind Shivaputrappa Melligeri

Aequs Manufacturing Investments Private Limited

Melligeri Private Family Foundation

The Melligeri Foundation

Pre Issue Share Holding : 64.48%

Post Issue Share Holding : 59.09%

Aequs Limited IPO IPO - Issue Objectives

Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable,availed by the company

Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable twoof our wholly-owned Subsidiaries, through investment in the below Subsidiaries

Funding capital expenditure to be incurred on account of purchase of machinery and equipment by the company

Funding capital expenditure to be incurred on account of purchase of machinery and equipment by one of our wholly-owned Subsidiaries, AeroStructures Manufacturing India Private Limited through investment in such Subsidiary

Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes

Aequs Limited IPO IPO - Anchor Investors

Aequs raises Rs 414 cr from anchor investors ahead of IPO.
The anchor book had participation from domestic and global institutional investors including SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Axis MF, Motilal Oswal MF, BlackRock Global Funds, Steadview Capital, and Citigroup, among others.

Aequs Limited IPO IPO - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Revenue(in Cr.)
Aequs	N/A	N/A	(14.4)%	924
Azad Engineering	N/A	115	6.2%	457
Unimech Aerospace	N/A	55	12.4%	242
Amber Enterprises	N/A	100	10.9%	9973
Kaynes Tech	N/A	129	10.3%	2721
Dixon Tech	N/A	73	47.5%	38860
Ptc Industries	N/A	417	4.4%	308

Strength

Advanced & Vertically Integrated Manufacturing Capabilities: The company offers end-to-end aerospace manufacturing in one single SEZ, covering machining, forging, surface treatment, and assembly. With over 2.9 million annual machining/molding hours, 200+ CNC machines, and 161 molding machines, Aequs produces complex components at scale and with high precision.

Unique Engineering-Led Ecosystems: Aequs runs vertically integrated, specialized precision manufacturing ecosystems developed over two decades of collaboration with customers and suppliers. These ecosystems create high entry barriers for competitors and provide strong advantages in quality, cost efficiency, and timely delivery.

Long-Standing Global Customer Relationships: It maintains long-standing, direct relationships with the world's leading global OEMs like Airbus, Boeing, Safran, Collins Aerospace, Hasbro, and Tramontina. The top customer groups have an average 15-year association, accounting for a major share of revenue with stable demand and access to large end markets.

Weakness

Contracts with OEM customers are requirement-based and, therefore do not provide firm quantities. Orders can, at any time, be reduced, amended, or cancelled. For instance, any decrease in the production requirements of such customers or cancellation of purchase orders could unfavorably impact our revenue, operations, and cash flows.

High Capital Expenditure Requirements: Continuous and large investment in equipment, machinery, and production lines is necessary to conduct the business. Any difficulty in accessing capital or inability to finance these upgrades may affect manufacturing capabilities and impact adversely on financial performance.

Risks relating to capacity utilization and disruption to operations: The company has several manufacturing clusters in India and overseas facilities, wherein production may not always be at existing levels of capacity utilization. Any operational slowdown or shutdown will have an adverse impact on results, financial condition, and cash flows.

Contact Details

Aequs Limited IPO

Aequs Tower, No. 55, Whitefield Main Road, Mahadevapura Post Belagavi Bengaluru, Karnataka, 560048

+91 96 3205 8521

investor.relations@aequs.com

https://www.aequs.com/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

aequs.ipo@kfintech.com

https://ipostatus.kfintech.com/

Aequs Limited IPO IPO - FAQs

Ans. Aequs Limited IPO is a Mainboard IPO. The issue is priced at ₹118-124 per equity share. The minimum order quantity is 120 Shares. The IPO opens on Dec 3, 2025, and closes on Dec 5, 2025. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Aequs Limited IPO opens on Dec 3, 2025 and closes on Dec 5, 2025.

Ans. You can track the real-time subscription numbers using the links below:

Ans. The size of Aequs Limited IPO is Total 921.81 Cr : #Fresh Issue : 5,40,32,258 shares(aggregating up to ₹670.00 Cr) + #OFS : 2,03,07,393 shares of ₹10(aggregating up to ₹251.81 Cr).

Ans. The Aequs Limited IPO price band is set between ₹118-124 per equity share.

Ans. To apply for Aequs Limited IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Aequs Limited IPO in the List of IPOs
- Press Apply Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Aequs Limited IPO is Dec 8, 2025.

Ans. The Aequs Limited IPO will be listed on Dec 10, 2025.

Ans. Follow the steps to check the Aequs Limited IPO allotment status online.