Summary of this article
The allotment for Aequs IPO shares is expected to be finalised on December 8
Aequs IPO was oversubscribed by 101.63 times by the final day
Aequs IPO GMP stood at Rs 37 per share over the issue price
The Rs 922-crore initial public offering (IPO) of Aequs Limited received bids for 4.27 billion shares against 42 million on offer by the final day, translating to a 101.63 times oversubscription, BSE data showed. Retail investors booked 78.05 times their quota, non-institutional investors (NIIs) subscribed 80.62 times, and the qualified institutional investors (QIBs) booked 120.92 times.
The Aequs IPO comprised of fresh shares worth Rs 670 crore and the remaining offer-for-sale shares aggregating to Rs 251.81 crore. The issue opened for public subscription on December 3 and closed on December 5. The company offered shares with a price band of Rs 118-124 per share.
JM Financial, IIFL Capital Services, and Kotak Mahindra Capital are the book running lead managers, and KFin Technologies is the registrar to the issue.
The allotment for Aequs IPO shares is expected to be finalised on December 8, and it’s shares will list on both the exchanges on December 10. The company is expected to start processing refunds and crediting shares to demat accounts on December 9.
Aequs Limited is a precision manufacturing company focused on the aerospace sector. It makes components for engine and landing systems, cargo and cabin interiors, and also works on structures, assemblies and turning solutions for global aerospace companies.
How To Check Aequs IPO Allotment
Investors who applied for Aequs IPO can check their allotment status via the websites of Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and through the registrar's website, which is KFin Technologies in this case. Here's a step-by-step guide to check the Aequs IPO allotment status.
How To Check Aequs IPO Allotment on NSE
Go to NSE's official website
Navigate to the "Invest" tab and click on the "Resources & Tools" section
Navigate to "Check Trades/Bids" and click on "Verify IPO bids"
From the form that appears, click on "Equity & SME IPO bid details"
Under the "Select Symbol" option, select "Aequs"
Enter either your PAN card number or application number
Click on "Submit"
Your IPO application status will be displayed
How To Check Aequs IPO Allotment Status On BSE
Go to the official website of BSE
Click on the "Investors" section
Navigate to the "Investor Services" tab and click on "Status of the Issue Application"
On the next page, click on "Check Status", or on the hyperlinked "Application Status Check" text at the lower end of the page
In the form that appears, select issue type as "Equity"
Under the "Issue Name", select "Aequs"
Enter either your application number or PAN card number
Complete the captcha by clicking on "I'm not a robot"
Click on "Search"
Your IPO allotment status will be displayed on the screen
How To Check Aequs IPO Allotment Status On KFin Technologies
Go to KFin Technologies’ IPO allotment status page
From the “Select IPO” dropdown, click on “Aequs Ltd”
Enter either your Demat account number, PAN or IPO application number
Click on “Submit” button
Aequs IPO Objectives
Aequs plans to use a significant chunk of the Rs 670-crore net proceeds from the IPO to cut debt and and support capital expenditure across the company and its subsidiaries. According to its red herring prospectus (RHP), the company will allocate around Rs 433 crore for repayment or prepayment of borrowings, including loans taken by three wholly owned subsidiaries — AeroStructures Manufacturing India Pvt Ltd, Aequs Consumer Products Pvt Ltd, and Aequs Engineered Plastics Pvt Ltd.
Of this, Rs 17.55 crore will go towards the parent company, while about Rs 415.62 crore is proposed to be infused into the subsidiaries. Within that, around Rs 174.82 crore will go to AeroStructures Manufacturing India, Rs 231.16 crore to Aequs Consumer Products and Rs 9.63 crore to Aequs Engineered Plastics.
Another Rs 8.11 crore is allocated for machinery and equipment purchases at the company level, and Rs 55.89 crore for similar capital expenditure at AeroStructures Manufacturing India. The remaining funds will be deployed towards inorganic growth, potential acquisitions, other strategic initiatives, and general corporate purposes.
Aequs IPO GMP Today
Aequs IPO shares' grey market premium (GMP) in the unlisted market stood at Rs 37 per share over the issue price, as of 10:45 AM on December 8.
Given the current GMP and the upper end of the issue price, Rs 124, the expected listing price of Aequs shares comes at Rs 161 per share. This represents a potential listing gain of 29.84 per cent.
