Aequs IPO: Issue Oversubscribed 22X On Day 3 So Far

Contract manufacturing company Aequs’ IPO continued to see steady investor interest on the third day of bidding and was oversubscribed 22X as of 12:08 IST. The issue received bids for 99.4 Cr shares against 4.20 Cr shares available for subscription. 

Retail investors’ quota saw the highest oversubscription at 52X. They placed bids for 39.8 Cr shares against 76.92 Lakh shares reserved. 

Non-institutional investors (NIIs) placed bids for 51.9 Cr shares against 1.15 Cr shares on offer, translating to 45X subscription. The company’s employees placed bids for 44.1 Lakh shares against 1.9 Lakh shares reserved, resulting in 23X oversubscription.

Meanwhile, qualified institutional buyers (QIBs) showed the least interest in Aequs’ IPO. Their quota was oversubscribed 4.6X, receiving bids for 10.3 Cr shares from 2.3 Cr shares reserved for them.

Aequs’ IPO comprises a fresh issue of shares worth up to INR 670 Cr and an offer for sale (OFS) of up to 2.03 Cr shares. The company has set the IPO price band at INR 118-124 per share. At the top end of the spectrum, the company would be valued at INR 8,316 Cr (about $930 Mn).

On December 2, Aequs raised INR 413.9 Cr from anchor investors. A total of 33 investors participated, subscribing to 3.3 Cr equity shares, with domestic mutual funds accounting for around 57% of the allocation.

The company’s shares are expected to list on the exchanges on December 10.

Founded in 2006 by Aravind Melligeri, Aequs is a diversified contract manufacturer producing customised components for major aerospace OEMs, including Airbus, Boeing, Safran, and Collins Aerospace. It also supplies parts to clients in the toys and consumer durables sectors, with manufacturing facilities spread across India, France, and the US.

On the financial front, Aequs managed to trim its consolidated loss for H1 FY26 by 76.2% to INR 17 Cr from INR 71.7 Cr in the year-ago period. Meanwhile, its top line for the period under review zoomed 17% to INR 537.2 Cr from INR 458.9 Cr in H1 FY25.