Aequs IPO is a book-built issue worth ₹921.81 crore. The issue comprises a fresh issue of 5.40 crore equity shares aggregating to ₹670.00 crore and an offer for sale of 2.03 crore equity shares aggregating to ₹251.81 crore.
The IPO opens for subscription on December 3, 2025, and closes on December 5, 2025. The allotment is expected to be finalised on December 8, 2025, with a tentative listing date on the BSE and NSE scheduled for December 10, 2025.
The IPO is priced in a range of ₹118 to ₹124 per share. Retail investors must apply for a minimum of 1 lot comprising 120 shares, requiring an investment of ₹14,880 at the upper price.
sNII applicants must apply for a minimum of 14 lots (1,680 shares), amounting to ₹2,08,320, while bNII applicants must bid for at least 68 lots (8,160 shares), requiring an investment of ₹10,11,840. JM Financial Ltd. is the book-running lead manager to the issue, and Kfin Technologies Ltd. is the registrar.
For detailed information on company financials, business operations, and associated risks, investors are advised to refer to the Aequs IPO RHP.
Industry Outlook
- India’s precision manufacturing sector is positioned for robust growth, underpinned by increasing global demand for high-quality engineered components and the country’s emergence as a competitive manufacturing hub. Government initiatives such as Make in India and production-linked incentive schemes are accelerating investments in advanced manufacturing technologies, fostering an environment conducive to innovation and scale.
- The aerospace industry, a key segment within precision engineering, is witnessing sustained expansion driven by rising aircraft deliveries, defence modernisation programmes, and the global trend towards outsourcing of component manufacturing. India’s cost advantage, skilled workforce, and growing compliance with international quality standards have strengthened its role in global supply chains. This has led to heightened interest from original equipment manufacturers (OEMs) seeking reliable partners for complex assemblies and precision parts.
- Simultaneously, the consumer durables and electronics market is experiencing rapid evolution, propelled by urbanisation, rising disposable incomes, and technological advancements. Demand for lightweight, durable, and aesthetically refined components is increasing, creating opportunities for integrated manufacturers capable of delivering end-to-end solutions.
- The competitive landscape remains fragmented yet vibrant, with global players leveraging India’s ecosystem for strategic sourcing, while domestic firms scale operations to meet international benchmarks. Cost efficiency, technological capability, and adherence to stringent quality norms are emerging as critical differentiators in this dynamic market.
Aequs IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- A substantial portion of the funds will be utilised to repay or prepay, in full or in part, certain outstanding borrowings availed by the company and its wholly owned subsidiaries. This includes associated prepayment penalties, thereby reducing interest obligations and strengthening the balance sheet.
- The company plans to invest in advanced machinery and equipment to enhance manufacturing capabilities within its precision engineering clusters. This initiative will support increased production volumes and improve operational efficiency across both aerospace and consumer segments.
- A portion of the proceeds will be allocated towards inorganic growth opportunities through acquisitions and other strategic initiatives. These measures aim to broaden the company’s technological capabilities and reinforce its market position in global supply chains.
- The remaining funds will be directed towards general corporate requirements, including working capital, administrative expenses, and initiatives to strengthen brand visibility and governance standards. This will enable the company to sustain long-term growth and improve access to capital markets.
About Aequs Limited
Aequs Limited was originally incorporated as Mechanical Training Academy Private Limited on 27 March 2000 under the Companies Act, 1956. The company underwent several name changes, becoming QuEST Machining & Manufacturing Private Limited in April 2006 and later QuEST Global Manufacturing Private Limited in March 2011. In March 2014, it was renamed Aequs Private Limited. Following its conversion into a public limited company in May 2025, it assumed its present name, Aequs Limited.
The company operates as a vertically integrated precision component manufacturer, serving global original equipment manufacturers (OEMs) across aerospace and consumer sectors. Its product portfolio includes components for engine systems, landing systems, cargo and interiors, structures, assemblies, and turnings for aerospace clients, alongside consumer electronics, plastics, and durable goods for consumer markets.
Aequs has established advanced manufacturing clusters in Karnataka, including facilities in Belagavi, Hubballi, and Koppal, complemented by international operations in France and the United States. These clusters enable end-to-end manufacturing solutions, leveraging cutting-edge technology and stringent quality standards to meet global benchmarks.
With a strong focus on operational excellence and technological innovation, Aequs aims to strengthen its position in global supply chains. Its growth strategy is driven by capacity expansion, strategic partnerships, and diversification across high-potential sectors, reinforcing its commitment to precision engineering and sustainable development.
How To Check the Allotment Status of the Aequs IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for Aequs IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Aequs IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Aequs IPO
Registered Office: Aequs Tower, No. 55, Whitefield Main Road, Mahadevapura Post, Bengaluru – 560048, Karnataka, India.
Phone: +91 96 3205 8521
E-mail: investor.relations@aequs.com
