Aequs IPO: Aerospace Manufacturing Player Announces Price Band For Public Issue - Should You Apply?

Aequs is set to launch its public issue on December 3, 2025, with the bidding window scheduled to close on December 5. Ahead of the opening of the subscription window, the company has announced the price band for its initial public offering (IPO).

Here’s a look at some of the key details related to the company’s public issue which investors should know before they consider applying for the same.

Aequs IPO Price Band and Lot Size

Aequs IPO price band has been fixed at Rs 118-124 per share. The minimum lot size to apply for the IPO for retail investors has been set at one lot comprising 120 shares aggregating to a minimum investment of Rs 14,880.

Aequs IPO GMP

The grey market premium (GMP) for Aequs’ shares is ranging between Rs 18 and Rs 30 as of November 28, 2025, according to multiple websites which track the demand for shares of unlisted companies on the grey market. The GMP is currently indicating a strong listing for the company’s shares at Rs 154 apiece with potential listing gains of 24.19 per cent.

Aequs IPO: Offer Size, Allotment Date, Listing Date

The Aequs IPO offer size aggregates to Rs 921.81 crore. The aerospace engineering company’s issue consists of a fresh issue of 54 million shares aggregating to Rs 670 crore and an offer for sale (OFS) of 20.30 million shares amounting to Rs 251.81 crore.

The basis of allotment for Aequs IPO is expected to be determined on December 8 and successful bidders will receive the shares in their demat accounts on December 9. Aequs IPO shares are slated to list on the BSE and the NSE on December 10.

Aequs IPO: Key Financials

Aequs’s total income for the June quarter of FY26 stood at Rs 565.55 crore; the company posted a net loss of Rs 16.98 crore and its net worth stood at Rs 796.04 crore.

Aequs total income decreased by over 3 per cent to Rs 959.21 crore in the financial year ended March 31, 2025 compared to Rs 988.30 crore in the preceding fiscal. The company’s net loss for FY 2024-25 stood at Rs 102.35 crore widening from Rs 14.24 crore in FY 2023-24.

Aequs: Business Model

Aequs is a precision component manufacturer which offers manufacturing capabilities in the aerospace segment to original equipment manufacturer (OEM) customers and system integrators. The company’s product portfolio includes components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for aerospace clients. The company’s product portfolio also includes consumer electronics, plastics, and consumer durables for our consumer clients.

Aequs: Competitors

Aequs competes with major aerospace and consumer electronics component manufacturing companies, as well as major consumer durables companies in India and abroad. Some of the company’s listed peers include Azad Engineering, Unimech Aerospace and Manufacturing, Amber Enterprises India, Kaynes Technology India, Dixon Technologies and PTC Industries.

Aequs IPO: Should You Apply?

Here’s a look at the strengths and risks mentioned by the aerospace engineering company in the RHP, which investors must consider before applying for the public issue:

Aequs: Key Risks

Aequs’ business faces these risks as per the company’s RHP:

• Aequs derives a significant portion of its net external revenue from the aerospace segment. The segment accounted for 88.23 per cent of its revenue for the six months period ended September 30, 2025. Any decrease in demand of products within the aerospace segment can adversely affect the company’s business.

• The company’s units in the manufacturing clusters are located in the state of Karnataka, and the geographical concentration exposes the company to regional risks which can adversely affect its business.

• The company disclosed in its RHP that its subsidiaries have had negative operating cash flows in the past and may continue to have negative operating cash flows in the future, which could adversely affect the results of operations and financial condition.

Aequs: Key Strengths

Here’s a look at some of the key strengths of Aequs IPO according to the company’s RHP:

• The company claims to have advanced and vertically integrated precision manufacturing capabilities.

• Aequs has operations in unique, engineering-led vertically-integrated precision manufacturing ecosystems.

• The company’s manufacturing presence is spread across three continents, and the company claims to have long-standing relationships with high entry barrier global customers.

Aequs IPO: Objective

The aerospace engineering company plans to use the proceeds of the public issue for repayment or prepayment of the outstanding borrowings and prepayment penalties of its main company and its subsidiaries, Aero Structures Manufacturing India, Aequs Consumer Products, and Aequs Engineered Plastics. The proceeds will also be used for funding capital expenditure for the purchase of machinery and equipment and for funding inorganic growth through unidentified acquisitions and general corporate purposes.