The Aequs IPO minimum market lot is 120 shares, requiring an application amount of ₹14,880. Retail investors can apply for up to 13 lots, totaling 1,560 shares, with a maximum investment of ₹1,93,440.
Aequs IPO Date, Review, Price, Allotment Details
Posted on: 27 Nov 2025
The Aequs IPO will open on December 3, 2025, and close on December 5, 2025. It is a book-built issue through which the company plans to raise around ₹921.81 crores. This includes a fresh issue of ₹670 crores and an offer for sale of up to 2,03,07,393 equity shares with a face value of ₹10 each.
The Aequs IPO price band is set at ₹118–₹124 per share. The issue allocation comprises 10% for retail investors, 75% for QIBs, and 15% for HNIs. The shares are proposed to be listed on the BSE and NSE on December 10, 2025, while the IPO allotment date is scheduled for December 8, 2025.
In FY 2025, the company recorded revenue of ₹959.21 crores, compared to ₹988.30 crores in FY 2024. It reported a loss of ₹102.35 crores in 2025, higher than the ₹14.24 crores loss posted in 2024. Despite the losses, investors may consider the IPO for long-term prospects based on the company’s business potential.
Aequs IPO Details
IPO Open Date December 3, 2025 (Tentative) 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 Market Lot
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 will open on December 3 and close on December 5. The allotment is scheduled to be finalized on December 8, and the shares are expected to list on the exchange 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 include Aravind Shivaputrappa Melligeri, Aequs Manufacturing Investments Private Limited, the 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 ₹23.47 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 ₹395.77 Funding capital expenditure to be incurred on account of purchase of machinery and equipment by the company ₹67.45 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 ₹60.58 Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes ₹-
About Aequs IPO
Aequs is the only precision component manufacturer in India offering a fully integrated production ecosystem for the aerospace industry. This end-to-end capability sets the company apart, as most contract manufacturers provide only limited or standalone services. Precision components—highly accurate, custom-machined parts—are primarily supplied to original equipment manufacturers (OEMs) and major system integrators.
Aequs also holds the distinction of having India’s largest aerospace product portfolio, covering engine system components, landing system parts, cargo and interior elements, structural components, assemblies, and turned parts for leading aerospace clients. While aerospace remains its core business, the company has steadily diversified into consumer electronics, plastics, and consumer durables over the years. As of March 31, 2025, Aequs has manufactured over 4,500 aerospace products, highlighting its scale and expertise in the precision manufacturing space.
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: investor.relations@aequs.com
Website: https://www.aequs.com/
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: aequs.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/