Aequs Sets Rs 118–124 Price Band For Rs 922-Crore IPO: Here’s When Subscription Opens And Key Dates

Aequs IPO: Aequs Limited, precision engineering and aerospace components manufacturer, set the price band for its Initial Public Offering (IPO) at Rs 118–124 per share, aiming to raise up to Rs 921.72

crore. The public issue will open for subscription on December 3 and close on December 5 while anchor bidding will take place on December 2.

What Is Price Band Of Aequs IPO?

The IPO price band of Rs 118–124 represents 11.80x to 12.40x the face value of Rs 10. Despite the valuation, Aequs remains a loss-making company, reporting negative earnings in FY25. With both basic and diluted EPS still in the red, the price-to-earnings ratio is not applicable, a key point for investors assessing the offer. Employees applying under the reserved quota will receive an Rs 11 per share discount, bringing their effective cost down to Rs 107–113.

What Aequs IPO Includes?

The total issue size stands at Rs 921.72 crore, comprising a fresh issue of Rs 670 crore and an offer for sale worth Rs 251.72 crore. Under the OFS, existing shareholders will divest around 2.03 crore shares at the upper price band. Major selling investors include Amicus Capital, Melligeri Private Family Foundation, Aequs Manufacturing Investments and Ravindra Mariwala, among others.

What Happened In Pre-IPO Placement?

Aequs recently completed a Rs 144-crore pre-IPO placement at a price of Rs 123.97 apiece, close to the upper end of the IPO price band. The placement drew interest from institutional players such as SBI Mutual Fund, DSP India Fund and Think India Opportunities Master Fund.

What You Need To Know About Aequs?

Aequs is known for its vertically integrated precision manufacturing across aerospace and consumer goods. The company works with several global OEMs and operates specialised machining and engineering facilities. Despite operational scale and long-term contracts, Aequs reported losses in FY25. Its three-year weighted average return on net worth stands at -15.07%, highlighting profitability challenges even as revenue visibility remains strong.

What Are Aequs IPO Allotment And Listing Dates?

The basis of allotment will be finalised on December 8, followed by refunds and demat credit on December 9. Shares of Aequs are scheduled to list on the NSE and BSE on December 10, marking its debut on the Indian stock exchanges.

The issue is being led by JM Financial, IIFL Capital and Kotak Mahindra Capital as book-running lead managers. KFin Technologies Limited will serve as the registrar.