Aequs Rs 922 crore IPO to open on Dec 3; price band fixed at Rs 118-124; key details here
Aequs, a contract manufacturer of consumer durable and aerospace components, will launch its initial public offering for subscription on Wednesday, 3 December, closing on Friday, 5 December.
- Nov 28, 2025,
- Updated Nov 28, 2025 9:00 AM IST
Aequs, a contract manufacturer of consumer durable and aerospace components, will launch its initial public offering for subscription on Wednesday, 3 December, closing on Friday, 5 December. The IPO features a fixed price band of Rs 118 to Rs 124 per share. Investors can bid in lots of 120 shares, requiring a minimum outlay of Rs 14,880 at the upper price band.
The total issue size stands at Rs 921.81 crore, comprising both a fresh issue and an offer for sale. Allotment is scheduled for 8 December, and shares will be listed on BSE and NSE from 10 December. JM Financial, IIFL Capital, and Kotak Mahindra Capital are the book running lead managers, with Kfin Technologies acting as registrar. Details regarding reservation for QIBs, NIIs, RIIs, and anchor investors are not specified in the available information.
The public issue involves an offer for sale of 2.03 crore shares by promoters and existing shareholders. Key promoter sellers include Melligeri Private Family Foundation and Aequs Manufacturing Investments Private Limited. Other selling investors are Amicus Capital Private Equity I LLP, Amicus Capital Partners India Fund I, Vasundhara Dempo Family Private Trust, Girija Dempo Family Private Trust, Ravindra Mariwala, and Raman Subramanian. Aravind Shivaputrappa Melligeri, the executive chairman and CEO, is named as the principal promoter.
Aequs is backed by institutional investors such as Amicus Capital Private Equity I LLP, Amicus Capital Partners, Amansa Investments, Steadview Capital Mauritius, Catamaran Ekam, and Sparta Group LLC. Collectively, these entities hold 25.54% of the company’s pre-offer equity.
Proceeds from the fresh issue will be used for repayment and prepayment of borrowings at subsidiaries AeroStructures Manufacturing India and Aequs Consumer Products. Additional objectives include funding machinery and equipment purchases, supporting inorganic growth through acquisitions, other strategic initiatives, and general corporate purposes.
Aequs operates from Karnataka and positions itself as the only precision component manufacturer in India working entirely within a single special economic zone, focused on vertically integrated aerospace manufacturing. Its product line includes components for engine systems, landing systems, cargo and interiors, structures, assemblies, and turning.
Financially, Aequs reported a narrowed loss of Rs 17 crore for the six months to September 2025, down from Rs 71.7 crore in the same period last year. Revenue for the period increased by 17% to Rs 537.2 crore from Rs 459 crore. However, for FY25, the company posted a loss of Rs 102.3 crore compared to Rs 10.8 crore in the previous year, with revenue declining 4.2% to Rs 924.6 crore from Rs 965 crore.
Anchor bidding for the Aequs IPO opens on Tuesday, 2 December, with the basis of allotment finalised by 8 December. Refunds, if any, will begin soon after, and shares will be credited to successful bidders’ demat accounts before trading starts on 10 December.
Aequs, a contract manufacturer of consumer durable and aerospace components, will launch its initial public offering for subscription on Wednesday, 3 December, closing on Friday, 5 December. The IPO features a fixed price band of Rs 118 to Rs 124 per share. Investors can bid in lots of 120 shares, requiring a minimum outlay of Rs 14,880 at the upper price band.
The total issue size stands at Rs 921.81 crore, comprising both a fresh issue and an offer for sale. Allotment is scheduled for 8 December, and shares will be listed on BSE and NSE from 10 December. JM Financial, IIFL Capital, and Kotak Mahindra Capital are the book running lead managers, with Kfin Technologies acting as registrar. Details regarding reservation for QIBs, NIIs, RIIs, and anchor investors are not specified in the available information.
The public issue involves an offer for sale of 2.03 crore shares by promoters and existing shareholders. Key promoter sellers include Melligeri Private Family Foundation and Aequs Manufacturing Investments Private Limited. Other selling investors are Amicus Capital Private Equity I LLP, Amicus Capital Partners India Fund I, Vasundhara Dempo Family Private Trust, Girija Dempo Family Private Trust, Ravindra Mariwala, and Raman Subramanian. Aravind Shivaputrappa Melligeri, the executive chairman and CEO, is named as the principal promoter.
Aequs is backed by institutional investors such as Amicus Capital Private Equity I LLP, Amicus Capital Partners, Amansa Investments, Steadview Capital Mauritius, Catamaran Ekam, and Sparta Group LLC. Collectively, these entities hold 25.54% of the company’s pre-offer equity.
Proceeds from the fresh issue will be used for repayment and prepayment of borrowings at subsidiaries AeroStructures Manufacturing India and Aequs Consumer Products. Additional objectives include funding machinery and equipment purchases, supporting inorganic growth through acquisitions, other strategic initiatives, and general corporate purposes.
Aequs operates from Karnataka and positions itself as the only precision component manufacturer in India working entirely within a single special economic zone, focused on vertically integrated aerospace manufacturing. Its product line includes components for engine systems, landing systems, cargo and interiors, structures, assemblies, and turning.
Financially, Aequs reported a narrowed loss of Rs 17 crore for the six months to September 2025, down from Rs 71.7 crore in the same period last year. Revenue for the period increased by 17% to Rs 537.2 crore from Rs 459 crore. However, for FY25, the company posted a loss of Rs 102.3 crore compared to Rs 10.8 crore in the previous year, with revenue declining 4.2% to Rs 924.6 crore from Rs 965 crore.
Anchor bidding for the Aequs IPO opens on Tuesday, 2 December, with the basis of allotment finalised by 8 December. Refunds, if any, will begin soon after, and shares will be credited to successful bidders’ demat accounts before trading starts on 10 December.