Allotment

Aequs IPO is a book-built issue with an open date of December 3, 2025, and a closing date of December 5, 2025. The company aims to raise approximately ₹921.81 crore through the IPO, comprising a fresh issue of ₹670 crore and an offer for sale of up to 2,03,07,393 equity shares with a face value of ₹10 each.
The price band for the IPO is ₹118 to ₹124 per share. The allocation is structured as 10% for retail investors, 75% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). The allotment date is December 8, 2025, and the shares are proposed to be listed on BSE and NSE on December 10, 2025.
Financial Highlights
Revenue: ₹959.21 crore in FY2025, slightly down from ₹988.30 crore in FY2024
Profit/Loss: Loss of ₹102.35 crore in FY2025, compared with a loss of ₹14.24 crore in FY2024
Based on the financial performance, Aequs IPO is recommended for long-term investors.
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| IPO Date | 10 Dec |
| IPO Listing Date | 10 Dec |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹124.00 |
| IPO Issue Size | 7,43,55,351 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | BSE, NSE Platform |
| hare Holding Pre Issue | 61,66,17,677 shares |
| IPO Open Date | 3 Dec |
| IPO Close Date | 5 Dec |
| IPO Allotment (Tentative) | 8 Dec |
| Refunds | 9 Dec |
| Credit to Demat Account | 9 Dec |
| IPO Listing Date | 10 Dec |
| Category | Offer |
|---|---|
| QIB Shares Offered | 5,56,33,772 |
| NII (HNI) Shares Offered | 1,11,26,753 |
| Retail Shares Offered | 74,17,835 |
Investors can bid for a minimum of 120 shares, and in multiples of 120 shares thereafter.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,880 |
| Retail (Max) | 13 | 1,560 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,680 | ₹2,08,320 |
| S-HNI (Max) | 67 | 8,040 | ₹9,96,960 |
| B-HNI (Min) | 68 | 8,160 | ₹10,11,840 |
Incorporated in 2000, Aequs Ltd. is engaged in manufacturing and operating a special economic zone in India, offering fully vertically integrated manufacturing capabilities in the Aerospace segment.
The company’s product portfolio includes components for engine systems, landing systems, cargo and interiors, structures, assemblies, and turning, catering primarily to aerospace clients. Over the years, Aequs has also expanded into consumer electronics, plastics, and consumer durables for its consumer clients.
As of September 30, 2025, the company produced over 5,000 products under various manufacturing and assembly programs for aerospace customers, including single-aisle aircraft (A220, A320, B737) and long-range aircraft (A330, A350, B777, B787).
Product Portfolio :
-Structures: Bracket, corner fitting, cable quadrant, triangular bracket, wing flap support, coupling, gearbox bracket, floorboard, latch assembly, bracket structure
-Interiors & Cargo: Power distribution unit tray, side panel, pawls, base, pan-seat, beam-back support, panel-side top, seat stay, outer pawl, housing left, bracket offset
-Landing Systems: Main landing gear, main fitting, bracket assembly, front panel, front assembly uplock, rim, half wheel, main fitting assembly
-Actuation Systems: Housing, manifold, mounting foot, mounting flange, actuator piston, housing, jack head, radar box
As of September 30, 2025, Aequs employed:
* 1,892 full-time employees
* 1,834 contractual employees
* 55 trainees
* 432 apprentices
* 325 fixed-term employees
Competitive Strengths :
Advanced and vertically integrated precision manufacturing capabilities
Operations in unique, engineering-led manufacturing ecosystems
Manufacturing presence across three continents, strategically located near end customers
Comprehensive precision product portfolio across high-value aerospace segments
Long-standing relationships with high-entry-barrier global customers
Founder-led business supported by an experienced management team and highly qualified workforce
| Assets | 2,134.35 | 1,859.84 | 1,863.50 |
| Total Income | 565.55 | 959.21 | 475.51 |
| Profit After Tax | -16.98 | -102.35 | -71.7 |
| EBITDA | 84.11 | 107.97 | 57.82 |
| NET Worth | 796.04 | 707.53 | 731.65 |
| Reserves and Surplus | 200.43 | 135.09 | -90.83 |
| Total Borrowing | 533.51 | 437.06 | 384.79 |
| ROE | -14.3 |
| ROCE | 0.87 |
| Debt/Equity | 0.99 |
| RoNW | -14.47 |
| PAT Margin | -11.07% |
| EBITDA Margin | 11.68% |
| Price to Book Value | 9.94 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | 64 |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 125.21 |
| 4 | Offer for Sale (OFS) | - |
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/
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: aequs.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Aequs IPO was a book-built issue open from December 3 to December 5, 2025, raising up to ₹921.81 crore, including fresh issuance and an offer for sale of shares.
The IPO price band was ₹118–₹124 per share. Retail investors could apply for a minimum lot of 120 shares, requiring an investment of ₹14,880 at the upper price band.
Aequs shares are listed on both BSE and NSE. The IPO was allotted on December 8, 2025, and listed on the stock exchanges on December 10, 2025.
Proceeds will fund repayment of borrowings, capital expenditure for machinery, investment in subsidiaries, strategic acquisitions, and general corporate purposes, supporting Aequs’ growth and operational expansion.
In FY2025, Aequs reported revenue of ₹959.21 crore and a loss of ₹102.35 crore. The company has strong manufacturing capabilities and strategic operations in aerospace and consumer segments.