- Issue opens on Wednesday, December 3 and closes on Friday, December 5
- The minimum bidding lot has been set at 120 shares
- Anchor bookings set for Tuesday, December 2
NE BUSINESS BUREAU
AHMEDABAD, DEC 1
Aequs Limited, the diversified contract manufacturing powerhouse with a strong foothold in aerospace and consumer durable segments, has fixed the price band for its ₹922-crore Initial Public Offering (IPO) at ₹118–124 per share, positioning the company for a high-visibility market debut. At the upper end, Aequs commands a valuation exceeding ₹8,300 crore.
The IPO will open for subscription on Wednesday, December 3 and close on Friday, December 5, with anchor bookings set for Tuesday, December 2. The offering comprises a fresh issue of ₹670 crore and an Offer for Sale (OFS) of 2.03 crore shares worth ₹252 crore by promoters and existing investors, including Amicus Capital-managed funds and other early stakeholders.
The minimum bidding lot has been set at 120 shares.
Funds to Fuel Debt Reduction, Machinery Purchase & Expansion
Proceeds from the fresh issuance will be channelled towards repayment of borrowings of Aequs and its subsidiaries—AeroStructures Manufacturing India and Aequs Consumer Products—along with machinery procurement, strategic acquisitions, and general corporate purposes.
Earlier this month, the company raised ₹144 crore from marquee investors such as SBI Funds Management, DSP India Fund, and Think India Opportunities Fund as part of its pre-IPO capital-raising exercise.
Aequs had filed confidential papers with SEBI in June and received approval in September, leveraging the increasingly popular pre-filing route that allows issuers to delay public disclosure of sensitive IPO details.
Financial Snapshot
For H1 FY26, Aequs reported:
- Revenue: ₹537.15 crore (up 17% YoY)
- Loss: ₹16.97 crore (down sharply from ₹71.7 crore in H1 FY25)
For FY25, the company posted revenue of ₹924.6 crore, marginally lower than the previous fiscal, while losses widened to ₹102.34 crore, driven by expansion capex and sectoral headwinds.
Aerospace Roots, Diversified Portfolio.
Promoters
Founded in 2000 by aerospace veteran Aravind Melligeri, Aequs operates one of India’s largest aerospace manufacturing ecosystems, including a fully integrated Special Economic Zone (SEZ).
Its portfolio spans:
- Engine, landing, cargo and structural systems
- Assemblies and turning components
- Consumer appliances, cookware, plastics, toys and electronics components
The company caters to top global aerospace giants including Airbus, Boeing, Bombardier, Collins Aerospace, Spirit AeroSystems, Safran, GKN Aerospace, and Honeywell, while also supplying major consumer brands like Hasbro, Spinmaster, Wonderchef and Tramontina.
Aequs runs advanced manufacturing facilities across India, France and the USA, with three major clusters located in Belagavi, Hubballi and Koppal (Karnataka).
IPO Structure
As per the company, 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Listing & BRLMs
The stock will be listed on the National Stock Exchange (NSE) and BSE, tentatively on Wednesday, December 10, 2025.
The company will make its debut on the stock market on December 12.
The book running lead managers to the IPO are JM Financial Ltd., IIFL Capital Services Ltd., and Kotak Mahindra Capital Company Ltd.
