Aequs IPO : Complete Investment Guide

The Aequs IPO has opened for subscription from December 3 to December 5, 2025, offering investors an opportunity to participate in India’s growing aerospace and precision manufacturing sector. The Aequs IPO price band is set at ₹118 to ₹124 per share, with a total issue size of ₹921.81 crores. This comprehensive guide covers everything you need to know about the Aequs Ltd IPO, including subscription dates, grey market premium, financial performance, and expert recommendations.

Aequs IPO Overview

Aequs Limited is a diversified precision manufacturing company specializing in aerospace components, consumer electronics, and consumer durables. The Aequs IPO represents one of the most anticipated public offerings in the aerospace sector, giving investors exposure to India’s expanding defense and aerospace manufacturing ecosystem.

The company operates through three vertically integrated manufacturing ecosystems located in Karnataka, India, serving global OEMs including Boeing, Airbus, and Safran. The Aequs IPO subscription period runs from December 3 to December 5, 2025, with shares expected to list on BSE and NSE on December 10, 2025.

Aequs IPO Important Dates

Understanding the Aequs IPO date timeline is crucial for investors planning to participate. Here’s the complete schedule for the Aequs IPO:

The Aequs IPO listing date of December 10, 2025, will mark the company’s debut on both BSE and NSE. Investors interested in the Aequs Ltd IPO should ensure they submit their applications before the closing time on December 5, 2025, at 5:00 PM IST.

Aequs IPO Price Band and Issue Details

The Aequs IPO price band has been fixed at ₹118 to ₹124 per equity share. This pricing strategy makes the Aequs IPO accessible to retail investors while maintaining attractive valuation metrics. Here are the complete Aequs IPO details:

Reservation Categories for Aequs IPO

The Aequs IPO allocation follows the standard mainboard IPO reservation pattern:

• QIB (Qualified Institutional Buyers): Not less than 75% of the net offer
• Non-Institutional Investors (NII): Not more than 15% of the net offer
• Retail Individual Investors: Not more than 10% of the net offer
• Employee Reservation: Available at ₹11 discount per share

Small NII investors applying for the Aequs IPO need to bid for a minimum of 1,680 shares, amounting to ₹2,08,320 at the upper price band. Many investors are comparing the Aequs IPO opportunity with other recent IPO launches, including the Meesho and Vidya Wires IPOs.

Aequs IPO GMP Today

The Aequs IPO GMP (Grey Market Premium) has shown strong investor sentiment ahead of the public offering. As of December 2, 2025, the Aequs IPO GMP stands at approximately ₹46.50, indicating a premium of around 37.5% over the upper price band of ₹124.

The strong Aequs IPO GMP reflects positive market sentiment toward the aerospace sector and the company’s integrated manufacturing capabilities. Investors comparing different opportunities may also want to review the Meesho IPO GMP analysis for broader market context.

What Drives Aequs IPO GMP?

• Strong anchor investor participation of ₹414 crores
• Growing aerospace and defense sector in India
• Vertically integrated manufacturing ecosystem
• Long-term contracts with global OEMs like Boeing and Airbus
• Attractive valuation compared to listed peers

Aequs Business Model and Operations

Understanding the business model is essential when evaluating the Aequs IPO investment opportunity. Aequs operates as a “one-stop-shop” precision manufacturing firm with three distinct vertically integrated ecosystems in India.

Core Business Segments

The Aequs Ltd IPO provides exposure to two primary business segments:

1. Aerospace Segment (88.23% of revenue)

Aequs manufactures precision components for commercial aircraft including A220, A320, A330, A350, B737, B777, and B787. The company produces over 5,000 products covering engine systems, landing systems, cargo interiors, and structural assemblies. The aerospace segment generated 75.60% of revenue from Indian operations, 11.66% from France, and 12.74% from the USA as of September 2025.

2. Consumer Segment (11.77% of revenue)

This segment includes consumer electronics, cookware, plastics, and toys. The consumer division provides revenue diversification and reduces dependence on aerospace cycles.

Manufacturing Locations

The Aequs IPO offers investors access to strategically located manufacturing facilities:

• Belagavi, Karnataka: Precision aerospace components in SEZ
• Hubballi, Karnataka: Consumer electronics and durables
• Koppal, Karnataka: Plastics manufacturing
• Texas, USA: Proximity to American OEM customers
• France: European aerospace market access

This integrated approach provides Aequs IPO investors with exposure to a company that offers enhanced quality management, optimized costs, reduced lead times, and a lower carbon footprint compared to fragmented supply chains. Investors interested in long-term wealth creation may also explore retirement planning strategies alongside IPO investments.

Financial Performance Analysis

Analyzing financial performance is crucial before investing in the Aequs IPO. Here’s a detailed breakdown of the company’s recent financial results:

Key Financial Observations

Potential Aequs IPO investors should note these important financial trends:

• Revenue declined 3% from ₹988.30 crores (FY24) to ₹959.21 crores (FY25)
• Net losses increased from ₹14.24 crores to ₹102.35 crores in FY25
• EBITDA decreased 26% from ₹145.51 crores to ₹107.97 crores
• Debt levels increased by approximately ₹109 crores year-over-year
• Asset base grew by 2% indicating continued capital expenditure

Objects of the Aequs IPO Issue

The Aequs Ltd IPO proceeds will be utilized for specific corporate purposes aimed at strengthening the company’s financial position:

The primary focus of Aequs IPO fund utilization is debt reduction, with approximately ₹419.24 crores earmarked for repaying borrowings. This should improve the company’s balance sheet and reduce interest costs, potentially improving profitability in future quarters. Investors focused on long-term financial planning may also review retirement scheme comparisons for portfolio diversification.

Aequs IPO Subscription Status

The Aequs IPO subscription opened on December 3, 2025, and has witnessed strong investor interest from day one. Early reports indicate the issue was fully subscribed within the first two hours of opening, with the retail portion booked over 4 times.

This robust Aequs IPO subscription status reflects the strong grey market premium and positive market sentiment toward the aerospace sector. Investors tracking the Aequs IPO can check real-time subscription data on the NSE and BSE websites or through their broker platforms.

How to Check Aequs IPO Subscription Status

• Visit NSE or BSE official websites
• Check broker app dashboards (Zerodha, Dhan, etc.)
• Monitor financial news portals for hourly updates
• Review category-wise subscription data for QIB, NII, and Retail

Aequs IPO Anchor Investor Details

The Aequs IPO raised ₹414 crores from 33 anchor investors on December 2, 2025, ahead of the public offering. This strong anchor participation validates the investment thesis and provides confidence to retail investors considering the Aequs Ltd IPO.

Key Anchor Investors in Aequs IPO

• BlackRock Global Funds – India Fund: 4.83% of anchor quota
• Sanshi Fund-I (Mukul Agrawal-backed): 1.21% allocation
• SBI Mutual Fund: Multiple schemes participated
• HDFC Mutual Fund: Significant allocation
• ICICI Prudential Mutual Fund: Multiple schemes
• Axis Mutual Fund: Participated through various funds
• Motilal Oswal Mutual Fund: Active participation
• Steadview Capital: Foreign institutional investor
• Societe Generale: International banking presence

Domestic mutual funds received 56.70% of the anchor allocation across 18 different schemes, demonstrating strong institutional confidence in the Aequs IPO. Additionally, the company raised ₹144 crores through a pre-IPO placement at ₹123.97 per share from investors including SBI Mutual Fund and DSP India Fund. Similar to evaluating the Aequs IPO, investors should understand hidden mutual fund costs for complete financial awareness.

How to Apply for Aequs IPO

Applying for the Aequs IPO is straightforward through online platforms. Here’s a step-by-step guide for participating in the Aequs Ltd IPO:

Online Application Methods

Method 1: UPI-Based Application (Recommended for Retail Investors)

1. Login to your broker’s trading platform (Zerodha, Dhan, Groww, etc.)
2. Navigate to the IPO section
3. Select “Aequs IPO” from the list
4. Enter bid details (number of lots, price)
5. Submit application and approve UPI mandate
6. Funds will be blocked in your bank account

Method 2: ASBA (Application Supported by Blocked Amount)

1. Login to your net banking portal
2. Go to “Invest in IPO” or “ASBA” section
3. Search for “Aequs IPO“
4. Fill in application details and quantity
5. Submit and funds will be blocked until allotment

Aequs IPO Application Deadlines

• Opening: December 3, 2025 (10:00 AM)
• Closing: December 5, 2025 (5:00 PM)
• Cut-off Time: Last day at 5:00 PM sharp

Retail investors can apply for the Aequs IPO with a minimum investment of ₹14,880 (one lot of 120 shares). You can apply for up to 13 lots (1,560 shares) totaling ₹1,93,440 as a retail investor. Understanding financial fundamentals like the 50-30-20 budget rule can help determine appropriate IPO allocation amounts.

Aequs IPO Review and Expert Analysis

Multiple brokerage firms have released their Aequs IPO review with varied recommendations. Here’s a comprehensive analysis of expert opinions on the Aequs Ltd IPO:

SBI Securities – Subscribe

SBI Securities recommends subscribing to the Aequs IPO citing deep integration in the global aerospace component ecosystem, high entry barriers, and substantial order books from OEMs like Boeing and Airbus. They highlight that IPO proceeds will reduce debt, potentially improving future profitability. The valuation at 8.7x EV/Sales at the upper band is considered attractive.

Ventura Securities – Subscribe

Ventura Securities endorses the Aequs IPO subscription, noting the company’s unique vertically integrated operations across machining, forgings, and assemblies. This provides multi-stage value capture and competitive cost advantages. While acknowledging the company isn’t consistently profitable yet, they believe improving operational leverage could enhance margins.

Swastika Securities – Long-Term Investment

Swastika Securities highlights the Aequs IPO as an opportunity for investors seeking aerospace and defense supply chain exposure. Despite current losses, the lower valuation relative to peers (Price-to-Book ~9.9x vs. 15-20x for competitors) makes it appealing for aggressive, long-term investors.

Arihant Capital – Positive Outlook

Arihant Capital emphasizes that Aequs’s SEZ-based manufacturing ecosystem gives it a “unique competitive advantage” as aerospace OEMs seek resilient, geographically concentrated supply chains. The integrated ecosystem approach is rare in India’s aerospace sector.

Should You Subscribe to Aequs IPO?

Deciding whether to invest in the Aequs IPO requires evaluating both strengths and risks. Here’s a balanced assessment:

Strengths Supporting Aequs IPO Investment

• Integrated Manufacturing Ecosystem: Rare “one-stop-shop” capability in aerospace
• Global Client Base: Long-term contracts with Boeing, Airbus, Safran
• Strategic Location: SEZ benefits and proximity to growing Indian market
• Sectoral Tailwinds: India’s aerospace sector expected to grow to $3 billion
• Strong Anchor Support: ₹414 crores from marquee investors
• Attractive Valuation: Lower P/B ratio compared to listed peers
• Debt Reduction Plan: IPO proceeds will improve balance sheet
• High GMP: 37.5% premium indicates strong demand

Risks to Consider for Aequs IPO

• Current Losses: Company reported ₹102.35 crore PAT loss in FY25
• Revenue Decline: 3% drop in total income from FY24 to FY25
• High Debt Levels: Total borrowings of ₹785 crores
• Working Capital Concerns: Increasing working capital days
• Aerospace Cyclicality: Sector vulnerable to global economic cycles
• Client Concentration: Dependence on few large OEM customers
• Execution Risks: Scaling operations and achieving profitability

Aequs IPO Investment Strategy

For Short-Term Investors: The strong Aequs IPO GMP of 37.5% suggests potential listing gains. However, GMP can be volatile and listing gains aren’t guaranteed. Short-term investors can consider applying for possible listing day profits.

For Long-Term Investors: The Aequs IPO offers exposure to India’s growing aerospace sector with a well-positioned company. Despite current losses, debt reduction and operational improvements could drive future profitability. Long-term investors with risk appetite may subscribe, but should allocate only a portion of their portfolio. Consider balancing IPO investments with stable options like National Pension Scheme (NPS) for retirement planning.

Risk-Averse Investors: Given the company’s current loss-making status and weak recent financials, conservative investors might wait for a few quarters of operational performance post-listing before investing. Alternatively, focus on wealth preservation through high-interest savings accounts and other low-risk instruments.

Frequently Asked Questions about Aequs IPO

To understand more about managing IPO investments effectively, consider reading about common financial mistakes Indians make and proven savings strategies to build a balanced portfolio.

Aequs IPO DRHP and Official Documents

For detailed information about the Aequs IPO, investors should review the company’s Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP) filed with SEBI. These documents contain comprehensive details about the business, financials, risk factors, and use of proceeds. You can access the official Aequs Ltd DRHP on SEBI website.

The Aequs IPO represents a significant opportunity for investors to gain exposure to India’s expanding aerospace manufacturing sector. With strong anchor investor participation, attractive valuation metrics, and a clear plan to reduce debt, the issue has generated substantial interest. However, investors must balance the growth potential against current financial challenges before making an investment decision.

Whether you’re interested in the Aequs IPO for listing gains or long-term wealth creation, ensure you conduct thorough research, understand the risks, and invest only amounts you can afford. The Aequs IPO subscription period is limited to just three days, so make an informed decision before December 5, 2025.