Aequs Limited came to market through an IPO that opened on 3 December 2025 and closed on 5 December 2025, and the shares listed on 10 December 2025 on BSE, NSE. The price band was ₹118 to ₹124 per share and one lot was 120 shares, so the minimum application was ₹14,880. The issue size was ₹921.81 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Kfin Technologies Limited was the registrar to the issue, and JM Financial Ltd, IIFL Capital Services Ltd, Kotak Mahindra Capital Co.Ltd were the lead managers.
As of 5 December 2025.
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Aequs is a diversified contract manufacturing company that facilitates large-scale and timely production of complex products, meeting the demanding needs of global Original Equipment Manufacturers (OEMs) in both the aerospace and consumer sectors. The company works within three specific, engineering-led vertically integrated precision manufacturing “ecosystems” in India that can offer “one-stop-shop” capabilities. This leads to various benefits: better quality management, cost and working capital efficiencies, reduced lead times, and lower global carbon emissions.
As described in the offer document.
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Aequs raises Rs 414 cr from anchor investors ahead of IPO. The anchor book had participation from domestic and global institutional investors including SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Axis MF, Motilal Oswal MF, BlackRock Global Funds, Steadview Capital, and Citigroup, among others.
Aravind Shivaputrappa Melligeri, Aequs Manufacturing Investments Private Limited, Melligeri Private Family Foundation, The Melligeri Foundation. Promoter holding 64.48% before the issue and 59.09% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Aequs IPO was a ₹921.81 crore book-built issue, comprising a fresh issue of ₹670 crore and an offer for sale of ₹251.81 crore. It was priced at ₹118–₹124 per share with a lot size of 120 shares (₹14,880). The IPO was open from December 3 to December 5, 2025 and was subscribed 104.28x. Shares listed on BSE and NSE on December 10, 2025 at ₹140, a 12.9% premium to the issue price of ₹124. Kfin Technologies Limited is the registrar.
JM Financial Ltd and 2 other book running lead managers manage the issue.
The price band of Aequs IPO is ₹118 to ₹124 per share.
The lot size of Aequs IPO is 120 shares.
The minimum investment for Aequs IPO is approximately ₹14,880 based on the upper price band.
The allotment date of Aequs IPO is Dec 8, 2025.
No GMP quote could be verified as recorded before Aequs IPO listed. A grey-market observation of ₹24 per share was recorded on 10 Dec 2025, 8:00 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹140. GMP is unofficial and does not forecast or guarantee the actual listing price.
Aequs IPO listed on Dec 10, 2025. It was issued at ₹140.0(NSE) and is currently around ₹207.20 as on 2-Nov-2026 3:30 PM, which is approximately 67.1% versus issue price. The 52-week high is ₹294.70.
You can check Aequs IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Aequs IPO allotment status on Rupix for quick and easy access.
₹118 to ₹124 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 120 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,880.
₹14,880, for one lot of 120 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 3 December 2025 and closed on 5 December 2025.
The basis of allotment was published on 8 December 2025 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 10 December 2025 on BSE, NSE.
The issue size was ₹921.81 crore. The fresh issue was 5,40,32,258 shares (aggregating up to ₹670 crore). The offer for sale was 2,03,07,393 shares (aggregating up to ₹251.81 crore).