Aequs IPO Opens December 3: Here's What Investors Should Know

Tuesday, December 2, 2025: Aequs Limited will launch its public offering on 3 December, with the subscription window open until 5 December. The ₹921.81 crore issue comprises a fresh equity issue along with an Offer for Sale (OFS). The company has fixed the price band at ₹118-₹124 per share. Retail investors must apply for a minimum of 120 shares, translating to an investment of approximately ₹14,880 at the upper end of the band.

Aequs is a one-stop, fully vertically integrated precision manufacturing ecosystem in a Special Economic Zone, and the company is strongly focused on the production of aerospace components, including engine parts, landing gear assemblies, structural components, and other high-precision parts used by major global aerospace OEMs. Further, the company has operations in consumer electronics, plastics, and consumer durables sectors that further diversify the company further diversified.

IPO Structure and Timeline

Aequs IPO is a book build issue of ₹921.81 crores. The issue is a combination of fresh issue of 5.40 crore shares aggregating to ₹670.00 crores and offer for sale of 2.03 crore shares aggregating to ₹251.81 crores.

Aequs IPO opens for subscription status on December 3, 2025 and closes on December 5, 2025. The allotment for the Aequs IPO is expected to be finalized on December 8, 2025. Aequs IPO will list on BSE, NSE with a tentative listing date fixed as December 10, 2025.

Aequs IPO price band is set at ₹118.00 to ₹124.00 per share. The lot size for an application is 120. The minimum amount of investment required by a retail is ₹14,880 (120 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,680 shares), amounting to ₹2,08,320, and for bNII, it is 68 lots (8,160 shares), amounting to ₹10,11,840.

 JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.

Financial Performance Analysis

The company’s FY25 total income declined 3% year-on-year, accompanied by a steep 619% fall in net profit. As of 30 September 2025, Aequs reported total assets of ₹2,134.35 crore and total income of ₹565.55 crore, along with a net loss of ₹16.98 crore for the period. Net worth improved marginally to ₹796.04 crore, supported by reserves and surplus of ₹200.43 crore.

Use of IPO Proceeds & Company Outlook

Aequs plans to deploy the IPO proceeds primarily towards strengthening its balance sheet and funding future expansion. Of the total net proceeds, ₹433.17 crore will go towards repayment or prepayment of borrowings, including ₹17.55 crore for the Company and ₹415.62 crore for its three wholly owned subsidiaries—AeroStructures Manufacturing India Private Limited (₹174.82 crore), Aequs Consumer Products Private Limited (₹231.16 crore) and Aequs Engineered Plastics Private Limited (₹9.63 crore). 

Another ₹64 crore has been earmarked for capital expenditure, covering the purchase of machinery and equipment for the Company (₹8.11 crore) and AeroStructures Manufacturing India Private Limited (₹55.89 crore). The remaining funds will be used to support inorganic growth through potential acquisitions, strategic initiatives and general corporate purposes. 

Aequs’ vertically integrated aerospace manufacturing model, combined with its relationships with global OEMs and presence across multiple precision-engineering segments, positions it as a company aligned with India’s growing role in global supply chains.

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