Aequs IPO Details
| IPO Open Date | December 3, 2025 |
| IPO Close Date | December 5, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹118 to ₹124 Per Share |
| Issue Size | Approx ₹921.81 Crores |
| Fresh Issue | Approx ₹670 Crores |
| Offer for Sale: | Approx 2,03,07,393 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Aequs IPO Review & Key Points
- Review: May Apply
- Rating: 3
Aequs IPO Market Lot
The Aequs IPO minimum market lot is 120 shares with ₹14,880 application amount. The retail investors can apply up-to 13 lots with 1,560 shares of ₹1,93,440 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 120 | ₹14,880 |
| Retail Maximum | 13 | 1,560 | ₹1,93,440 |
| S-HNI Minimum | 14 | 1,680 | ₹2,08,320 |
| S-HNI Maximum | 67 | 8,040 | ₹9,96,960 |
| B-HNI Minimum | 68 | 8,160 | ₹10,11,840 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 3,33,80,262 Shares | -% |
| QIB (Ex. Anchor) | 2,22,41,733 Shares | -% |
| NII Shares Offered | 1,11,24,399 Shares | 27.16% |
| Retail Shares Offered | 74,16,266 Shares | 18.11% |
| Employee Shares Offered | 1,76,991 Shares | 0.43% |
Aequs IPO Anchor Investors
| Anchor Bidding Date | December 2, 2025 |
| Anchor Investors List | |
| Shares Offered | 3,33,80,262 Shares |
| Anchor Size | ₹413.92 Cr. |
| lock-in period end date 50% shares (30 Days) | January 7, 2026 |
| lock-in period end date 50% shares (90 Days) | March 8, 2026 |
Aequs IPO Dates
The Aequs IPO date is December 3 and the close date is December 5. The Aequs IPO allotment will be finalized on December 8 and the IPO listing on December 10.
| IPO Open Date: | December 3, 2025 |
| IPO Close Date: | December 5, 2025 |
| Basis of Allotment: | December 8, 2025 |
| Refunds: | December 9, 2025 |
| Credit to Demat Account: | December 9, 2025 |
| IPO Listing Date: | December 10, 2025 |
| IPO Bidding Cut-off Time: | December 5, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Aravind Shivaputrappa Melligeri, Aequs Manufacturing Investments Private Limited, Melligeri Private Family Foundation and The Melligeri Foundation.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 61,66,17,677 | 64.48% |
| Promoter Holding Post Issue | 67,06,49,935 | 56.25% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable,availed by the company | ₹- |
| Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable twoof our wholly-owned Subsidiaries, through investment in the below Subsidiaries | ₹- |
| Funding capital expenditure to be incurred on account of purchase of machinery and equipment by the company | ₹- |
| Funding capital expenditure to be incurred on account of purchase of machinery and equipment by one of our wholly-owned Subsidiaries, AeroStructures Manufacturing India Private Limited through investment in such Subsidiary | ₹- |
| Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes | ₹- |
About Aequs IPO
Aequs is the only precision component company in India that offers fully integrated manufacturing for the aerospace sector. What sets them apart is that they provide a fully integrated making for aerospace, which gives them an advantage over other contract manufacturers who only offer a few services. Precision components are the precisely machined parts that are made to exact requirements, mainly sold to original equipment manufacturers (OEMs) and system integrators.
Aequs has the largest aerospace product portfolio in India, including components for engine systems, landing systems, cargo and interiors, structures, assemblies, and turning parts for aerospace clients. Even though the company’s main business lies in the aerospace sector, over the years, it has also expanded into consumer electronics, plastics, and consumer durables. Furthermore, the company has produced over 4,500 aerospace products as of March 31, 2025.
Aequs IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹840.54 | ₹777.48 | ₹109.50 | ₹1,321.69 |
| 2024 | ₹988.30 | ₹842.79 | ₹14.24 | ₹1,822.98 |
| 2025 | ₹959.21 | ₹851.24 | ₹102.35 | ₹1,859.84 |
| September 2025 | ₹565.55 | ₹481.44 | ₹16.98 | ₹2,134.35 |
Aequs IPO Valuation – FY2025
Check Aequs IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | (14.30)% |
| ROCE: | 0.87% |
| EBITDA Margin: | 11.68% |
| PAT Margin: | (11.07)% |
| Debt to equity ratio: | 0.99 |
| Earning Per Share (EPS): | ₹(1.80) (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | (14.47)% |
| Net Asset Value (NAV): | ₹12.47 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Azad Engineering Limited | 14.66 | 106.19 | 6.21% | 234.06 | 457.35 Cr. |
| Unimech Aerospace and Manufacturing Limited | 17.59 | 59.30 | 12.48% | 141.01 | 242.93 Cr. |
| Amber Enterprises India Limited | 72.01 | 113.89 | 10.99% | 672.61 | 9,973.02 Cr. |
| Kaynes Technology India Limited | 45.82 | 161.70 | 10.33% | 439.85 | 2,721.25 Cr. |
| Dixon Technologies (India) Limited | 205.70 | 86.44 | 47.50% | 494.74 | 38,860.10 Cr. |
| PTC Industries Limited | 41.37 | 368.96 | 4.40% | 940.03 | 308.07 Cr. |
IPO Lead Managers aka Merchant Bankers
- JM Financial Ltd.
- IIFL Capital Services Ltd.
- Kotak Mahindra Capital Co. Ltd.
Company Address
Aequs Ltd.
No 437/A, Hattargi Village
Hukkeri Taluk,
Belagavi
Bengaluru, Karnataka, 591243
Phone: +91 831 2499000
Email: [email protected]
Website: https://www.aequs.com/
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://ipostatus.kfintech.com/
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