Aequs Limited has confirmed that its Initial Public Offer (IPO) will open for subscription on Wednesday, December 03, 2025, with the issue closing on Friday, December 05, 2025. The Anchor Investor bidding window will be held on December 02, 2025.
The Company has established a price band of ₹118 to ₹124 per equity share of face value ₹10. This reflects a floor price 11.80 times and a cap price 12.40 times the face value. Bids will begin at a minimum lot of 120 shares, extendable in multiples thereof.
The IPO consists of a fresh issue totalling ₹6,700 million (₹670 crore) and an Offer for Sale (OFS) of up to 2,03,07,393 equity shares. The shares are proposed to list on BSE and NSE, with NSE as the designated stock exchange.
The offer will be managed by JM Financial, IIFL Capital Services, and Kotak Mahindra Capital as the Book Running Lead Managers (BRLMs).
Under the Book Building Process, at least 75% of the net offer is reserved for QIBs, with up to 60% of this portion eligible for discretionary allocation to Anchor Investors. One-third of the Anchor portion is specifically reserved for domestic mutual funds.
If the Anchor portion is not fully subscribed, the remaining shares flow back into the Net QIB Portion. Of this Net QIB Portion, 5% is earmarked for mutual funds only, with the remainder available to all QIBs. If the full 75% QIB allocation cannot be met, all investor funds must be refunded.
A maximum of 15% of the net offer will be allotted to Non-Institutional Investors, distributed across two application-size categories. Retail Individual Investors will receive not more than 10% of the net offer. Eligible employees will also receive reserved allocations.
All non-anchor applicants must use the ASBA payment mechanism, including UPI-based applications where applicable.
Aequs Limited is the only company within a single SEZ in India to offer fully vertically integrated aerospace precision manufacturing. Its client roster includes Airbus, Boeing, Collins Aerospace, Honeywell, Safran, and consumer brands such as Hasbro, Spinmaster, Wonderchef, and Tramontina.
