Aequs sets IPO price band at Rs 118-124 per share, Rs 922-crore issue to open on Dec 3: Check key details

Aequs sets IPO price band at Rs 118-124, Rs 922-crore issue opens on December 3: Check key details

The Rs 922-crore initial public offering of Aequs will open for public bidding on December 3 (Wednesday). The aerospace products manufacturer has set a price band of Rs 118-124 per share for its maiden public issue.

Investors can bid for a minimum of 120 shares, requiring an investment of Rs 14,880 at the upper price band, and in multiples thereafter. The allotments will likely be finalised by December 8, and the shares are scheduled to debut on stock exchanges BSE and NSE on December 10.

About Aequs IPO:

The IPO of the company will remain open for public bidding between December 3 and December 5, while anchor bidding will open on December 2. The issue comprises a fresh issue of shares worth up to Rs 670 crore, and an offer for sale (OFS) of 2.03 crore shares by existing promoters and investors.

Amicus Capital, Raman Subramanian, Ravindra Mariwala, Vasundhara Dempo Family Private Trust, Girija Dempo Family, and promoters are the selling shareholders in the offer-for-sale.

JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company are acting as the merchant bankers for the Aequs IPO.

How will the IPO proceeds be used?

Aequs intends to spend Rs 433.2 crore of fresh issue proceeds for repayment of certain loans, Rs 64 crore to buy machinery and equipment, and the remainder funds for inorganic growth and general corporate purposes.

About the company:

The Karnataka-based company claims to be the only precision component manufacturer operating within a single special economic zone in India which offers fully vertically integrated manufacturing capabilities in the aerospace segment. It provides components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for aerospace.

Promoters currently hold 64.48 percent equity stake in the company, and the remainder 32.95 percent shares are owned by the public including Amansa Investments (8.13 percent stake), Amicus Capital (5.54 percent), and Steadview Capital (3.7 percent).

Before the launch of its IPO, Aequs undertook a private placement of equity shares worth Rs 144 crore. SBI Mutual Fund, DSP India Fund, and Think India Opportunities Master Fund participated in the pre-IPO round.

Aequs financials:

On the financial front, the company's loss narrowed to Rs 17 crore during the six months which ended in September 2025, from Rs 71.7-crore reported in corresponding period of the previous fiscal. Revenue during the same period increased by 17 percent to Rs 537.2 crore, up from Rs 459 crore in the same period last year.

Loss in the fiscal 2025 widened to Rs 102.3 crore, compared to loss of Rs 10.8 crore in previous year. Revenue during the same period dropped 4.2 percent to Rs 924.6 crore, down from Rs 965 crore.

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