Aequs IPO Details
MAINBOARD
Aequs IPO opens for subscription on 03 Dec 2025 and closes on 05 Dec 2025. The IPO will be listed on NSE, BSE with the tentative listing date set for 10 Dec 2025.
Aequs IPO price band has been fixed at ₹118 – ₹124 per share.The face value is ₹10 per share with a lot size of 120.
Aequs IPO total issue size comprises 7,43,39,651 shares (aggregating up to ₹921.81 Cr.). This includes a fresh issue of 5,40,32,258 shares (aggregating up to ₹670.00 Cr.). Offer for Sale consists of 2,03,07,393 shares (aggregating up to ₹251.81 Cr.). Pre-issue shareholding stands at 61,66,17,677, which will increase to 67,06,49,935 post-issue.
Aequs IPO carries a ₹24 (19.35%) GMP, reflecting investor sentiment.
Aequs IPO Lot Size : Retail Minimum is 1 lot (120 shares) amounting to ₹14,880. Retail Maximum is 13 lots (1,560 shares) amounting to ₹193,440. SHNI Minimum is 14 lots (1,680 shares) amounting to ₹208,320. SHNI Maximum is 67 lots (8,040 shares) amounting to ₹996,960. BHNI Minimum is 68 lots (8,160 shares) amounting to ₹1,011,840.
The Lead Managers for Aequs IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Jm Financial Ltd, Kotak Mahindra Capital Company Ltd, IIFL Capital Services Ltd. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.
For detailed information, Refer to the Aequs Limited RHP.
Aequs IPO Details
Aequs IPO Subscription
Aequs IPO Application Wise Breakup (Approx)
Aequs IPO Dates
- 03 Dec 2025Opening dateOpen
- 05 Dec 2025Closing dateClose
- 08 Dec 2025Allotment Date Allotment
- 09 Dec 2025Initiation of RefundsRefund
- 09 Dec 2025Credit of SharesCredit
- 10 Dec 2025Listing dateListing
Aequs IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 120 | ₹14,880 |
| Retail Maximum | 13 | 1560 | ₹193,440 |
| SHNI Minimum | 14 | 1680 | ₹208,320 |
| SHNI Maximum | 67 | 8040 | ₹996,960 |
| BHNI Minimum | 68 | 8160 | ₹1,011,840 |
Aequs IPO Reservation
Promoter Holding
Documents
Aequs IPO Valuations
Aequs 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 |
| Amount in ₹ Crore | |||||
About Aequs IPO
Incorporated in 2000, Aequs Ltd. is engaged in both manufacturing and operating a Special Economic Zone (SEZ) in India, offering fully integrated, end-to-end production capabilities for the aerospace industry.
The company’s aerospace portfolio covers a wide range of components used in engine systems, landing systems, cargo and cabin interiors, structural assemblies, and precision turning.
While aerospace remains its core area of operations, Aequs has gradually diversified into consumer electronics, plastics, and consumer durable components, expanding its capabilities to serve clients in non-aerospace sectors as well.
As of September 30, 2025, Aequs had manufactured more than 5,000 aerospace components, delivered under various long-term manufacturing and assembly programs. These programs support major commercial aircraft platforms across both narrow-body and wide-body categories, including the A220, A320, B737 series, and the A330, A350, B777, B787 families.
Product Portfolio:
- Structures:
Bracket, corner fitting, cable quadrant, triangular bracket, wing flap support, coupling, gearbox bracket, floorboard, latch assembly, bracket structure - Interiors and Cargo:
Power distribution unit tray, side panel, pawls, seat base and pan, beam-back support, top side-panel components, seat stay, outer pawl, left housing, offset bracket - Landing Systems:
Main landing gear, main fitting, bracket assembly, front panel, front uplock assembly, rim, half-wheel, main fitting assembly - Actuation Systems:
Housing, manifold, mounting foot, mounting flange, actuator piston, actuator housing, jack head, radar box
As of September 30, 2025, the company employed:
- 1,892 full-time employees
- 1,834 contractual staff
- 55 trainees
- 432 apprentices
- 325 fixed-term employees
Strength Of Aequs IPO
- Advanced and vertically integrated precision manufacturing capabilities.
- Operations in unique, engineering-led vertically-integrated precision manufacturing ecosystems.
- Manufacturing presence across three continents with strategic proximity to end customers.
- Comprehensive precision product portfolio across high value segments.
- Long-standing relationships with high entry barrier global customers.
- Founder-led business supported by an experienced management team and a qualified employee base.
Risk Of Aequs IPO
- We derive a significant portion of our net external revenue from the Aerospace Segment (88.23% for the six months period ended September 30, 2025, 86.00% for the six months period ended September 30, 2024, 89.19% for the Financial Year 2025, 78.44% for the Financial Year 2024 and 72.06% for the Financial Year 2023). Any decrease in demand of products within the Aerospace Segment or any development that makes the sale of products within the Aerospace Segments less economically beneficial may adversely affect our business, results of operations, financial condition and cash flows.
- We are dependent on our ten largest customer groups, which comprise a significant portion of our revenue from operations (82.51% for the six months period ended September 30, 2025, 85.56% for the six months period ended September 30, 2024, 88.57% for the Financial Year 2025, 86.51% for the Financial Year 2024 and 86.48% for the Financial Year 2023). Any failure to maintain our relationship with these customer groups or any adverse changes affecting their financial condition will have an adverse effect on our business, results of operations, financial condition and cash flows.
- Our contractual arrangements with our OEM customer groups are typically requirement-based contracts which do not obligate our customers to place a fixed quantity of orders with us within a fixed time frame, and any termination of such contracts or decline in the production requirements of any of our customers, may adversely affect our business, results of operations, financial condition and cash flows.
- Our business requires significant capital expenditure to maintain or upgrade equipment and machinery across our existing manufacturing clusters and facilities. If we are unable to have access to capital, it may adversely affect our business, results of operations, financial condition and cash flows.
- While we intend to use a portion of the Net Proceeds to purchase and install machinery and equipment for our Company and our Subsidiary, AeroStructures Manufacturing India Private Limited, to expand our existing capacities, we cannot assure you that we will be able to maintain the existing levels of capacity utilization within the segments of our manufacturing clusters we operate in or facilities, which may adversely affect our results of operations. Further, a slowdown or shutdown in our manufacturing operations could have an adverse effect on our business, results of operations, financial condition and cash flows.
- Our business is subject to fluctuations in the prices and disruptions in the availability of raw materials, which may have an adverse effect on our business, results of operations, financial condition and cash flows.
- All the units in the manufacturing clusters that we operate in, in India are located in the state of Karnataka, which may expose us to regional risks that could adversely affect our business, results of operations, financial condition, and cash flows.
- Our Company and certain of our Subsidiaries have had negative operating cash flows in the past and may continue to have negative operating cash flows in the future, which could adversely affect our results of operations and financial condition.
- A downgrade in our credit rating could adversely affect our ability to raise capital in the future.
- Our business and results of operations may be adversely affected if we are unable to maintain or improve capacity utilization following the installation of additional plant and machinery from the proceeds of the Offer.
Objectives Aequs IPO
1. Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable, availed by:
2. The Company
3. three of the wholly-owned Subsidiaries, through investment in the below Subsidiaries
4. AeroStructures Manufacturing India Private Limited
5. Aequs Consumer Products Private Limited
6. Aequs Engineered Plastics Private Limited
7. Funding capital expenditure to be incurred on account of purchase of machinery and equipment by:
8. Company
9. one of the wholly-owned Subsidiaries, AeroStructures Manufacturing India Private Limited, through investment in such Subsidiary
10. Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes
Company Contact Details
Aequs Ltd.
No 437/A, Hattargi Village Hukkeri Taluk,
Belagavi Bengaluru, Karnataka, 591243
Phone: +91 831 2499000
Email: investor.relations@aequs.com
Website: https://www.aequs.com/