India’s aerospace sector is blasting off, and Aequs Limited is at the forefront. As the country’s only precision component manufacturer operating within a single Special Economic Zone (SEZ) with fully vertically integrated aerospace manufacturing, Aequs is gearing up for its much-anticipated IPO. This isn’t just another listing—it’s a gateway for investors to tap into India’s growing role in global aviation supply chains, backed by giants like Boeing and Airbus.
Aequs IPO Key Dates: Mark Your Calendar
The Aequs IPO is a book-built mainboard issue, opening for subscription on December 3, 2025, and closing on December 5, 2025. Here’s the full timeline:
| Event | Date |
|---|---|
| IPO Open Date | December 3, 2025 |
| IPO Close Date | December 5, 2025 |
| Basis of Allotment | December 8, 2025 |
| Refund Initiation | December 9, 2025 |
| Share Credit | December 9, 2025 |
| Listing Date | December 10, 2025 (BSE & NSE) |
Price Band, Lot Size, and Minimum Investment
Aequs has fixed the price band at ₹118 to ₹124 per equity share (face value ₹10). This modest pricing reflects a P/E ratio of around 25-30x based on FY25 earnings, making it accessible yet valued for growth.
- Lot Size: 120 shares (minimum application).
- Minimum Investment for Retail: ₹14,880 (at upper band: 120 shares × ₹124).
- Retail Limit: Up to 13 lots (1,560 shares, ₹1,93,440).
- HNI (NII) Minimum: 14 lots (1,680 shares, ₹2,08,320).
- Anchor Allocation: Reserved for QIBs; pre-IPO placements capped at 20% of fresh issue.
ssue Size and Structure: Fresh Capital Meets Shareholder Exit
The total issue size is ₹921.81 crore, blending fresh fundraising with an offer-for-sale (OFS):
| Component | Details |
|---|---|
| Fresh Issue | 5.40 crore shares (₹670 crore) |
| Offer for Sale (OFS) | 2.03 crore shares (₹251.81 crore) by promoters/investors |
| Total Issue Size | ₹921.81 crore (7.43 crore shares) |
Funds Utilization: Smart Bets on Growth
The fresh ₹670 crore will supercharge Aequs’ operations:
- ₹433.2 crore: Repay/prepay loans and penalties (debt reduction for better margins).
- ₹64 crore: Capex for new machinery and equipment (boosting production capacity).
- Balance: Inorganic growth (acquisitions), strategic initiatives, and general corporate purposes.
This aligns with Aequs’ focus on expanding its SEZ ecosystem in Belagavi, where it manufactures engine parts, landing gear, and interiors for global OEMs.
