Aequs Ltd IPO Live Updates: Day 1 Overwhelmingly Invested 3x; Retail Investors Push 11.46x Subscriptions
Aequs Ltd IPO was 3 times over subscribed on the first day, with retail investors purchasing 11.46 times the amount. Monitor gray market premium, lot size, subscription numbers, and other important IPOs related to this aircraft precision parts firm.
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The Aequs Ltd IPO, the Rs 922 crore public offering of Bengaluru-based aerospace and precision components manufacturer, was extremely well received on the first day of trading. The issue was sold more than three times over, while the retail segment alone accounted for an impressive 11.46x of the total subscription, thus reflecting the strong confidence of the investors.
The IPO, which was offered within the price bracket of Rs 118–124 per share, consists of a Rs 670 crore new issue and a Rs 251.81 crore offer for sale (OFS) by current shareholders. Retail investors can bid for lots of 120 shares, which equals a minimum investment of Rs 14,880 at the higher end of the price range.
Grey Market Premium & Listing Gains
The grey market premium (GMP) for Aequs stocks was approximately ₹46, signaling a listing price of Rs 170.5 and possible returns of 37.5% to the investors at the cap price. The early pre-IPO support from such reputable institutional investors as SBI Funds Management, DSP India Fund, and Think India Opportunities Fund certainly underlines the strong interest in the market.
Day 1 Subscription Overview
Total: 3.42x
Retail Individual Investors (RIIs): 11.46x
Employees: 6.72x
Non-Institutional Investors (NIIs): 3.4x
Qualified Institutional Buyers (QIBs): 0.66x
Company Profile
Aequs is a precision engineering giant focusing on the niche of aerospace components and tolerance-critical manufacturing. The world-class approach of the company allows it to integrate various production stages under one roof, supplying such global OEMs as Boeing, Airbus, Collins Aerospace, Spirit AeroSystems, and Safran. 90% of the company's sales volume comes from the aircraft sector, wherein 5,000+ components are manufactured for the programs ranging from A320, A330, B737, B777, and B787.
Aequs also has a small but growing consumer product division, which currently produces less revenue for the company. The production sites are in India, France, and the USA, and the company's international sales account for 89% of the total.
IPO/ripening and Valuation
Aequs will apply Rs 670 crore out of the proceeds of the fresh issue for the following:
Repaying debts and borrowing prepayments
Purchase of machinery and equipment as part of the capital expenditure
Advance payments for M&A, other strategic initiatives, and general corporate purposes
If priced at Rs 124, the IPO will be valued at 8.7x EV/Sales, an attractive valuation according to analysts at SBI Securities, considering the company's substantial order backlog along with the high entry barriers in aerospace manufacturing.
Key Factors to Weigh
Aerospace dependence, which accounts for 88-89% of revenue.
Customer dependency, as the top 10 clients together account for around 83-89% of the total sales.
Geographic exposure, since most operations are located in Karnataka.
Operational and regulatory risks that are typical of the Indian manufacturing sector.
Important Dates
IPO Open: Dec 3, 2025
IPO Close: Dec 5, 2025
Allotment Date: Dec 8, 2025
Refunds & Demat Credits: Dec 9, 2025
Expected Listing: Dec 10, 2025
It is recommended that investors keep an eye on the latest GMP, subscription status, and important updates to make well-informed decisions before the IPO closes.
