About Aggcon Equipments International IPO
Aggcon Equipments International IPO Details
Aggcon Equipments International IPO is a 100% book-built issue combining a fresh issue of ₹332 crore and an offer for sale (OFS) of 94 lakh equity shares, with a face value of ₹1 per share. The company filed its DRHP with SEBI on July 10, 2025.
The price band and official dates of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead manager of the issue is Motilal Oswal Investment Advisors Limited, while the registrar to the issue is MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited).
Aggcon Equipments International IPO Date & Timeline
Aggcon Equipments International Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on July 10, 2025. However, the specific Aggcon Equipments International IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalise the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.
Aggcon Equipments International IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
Aggcon Equipments International IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 1 per share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Capital & OFS |
| Total Issue Size | [.] |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | [.] shares (agg. up to ₹ 332 Cr) |
| Offer for Sale | 94,00,000 shares of ₹1 (agg. up to ₹[.] Cr) |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 9,03,35,000 shares |
| Share Holding Post Issue | - |
Aggcon Equipments International IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Aggcon Equipments International IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
Aggcon Equipments International Ltd. was incorporated in 2003 and is headquartered in New Delhi. Over the past two decades, the company has evolved from a small-scale equipment provider into a comprehensive infrastructure services entity, specializing in the rental and management of heavy machinery required for earthmoving, road construction and material handling and has become one of India's leading and fastest-growing infrastructure equipment rental companies.
The company has focused on building a strong fleet catering to large-scale infrastructure projects across India, serving a diverse client base including top-tier EPC contractors and government infrastructure bodies.
Operations & Product Range
The core operating model of Aggcon Equipments International Ltd. revolves around the "rental and service" of specialised infrastructure equipment. Its product range includes excavators, backhoe loaders, compactors, cranes and motor graders. Instead of project owners purchasing expensive machinery that may lie idle after a project, Aggcon provides this on a rental basis, often accompanied by skilled operators and maintenance support. This model allows EPC contractors to remain asset-light while the company manages the lifecycle, maintenance and deployment of equipment across various project sites.
Facilities & Capacity
Aggcon Equipments International Ltd. operates multiple service and maintenance hubs, with a major corporate office in New Delhi and a registered office in Faridabad, Haryana. The company manages a fleet of equipment units and has access to quality equipment and support with the aim of helping our customers execute projects predominantly across industries like construction, infrastructure and mining. The main purpose of this issue is to increase the operating capacity by the purchase of additional infrastructure equipment.
Brands & Market Presence
Aggcon Equipments International Ltd. has established a strong market presence as a reliable partner for major infrastructure projects in India, known for its ability to deploy large fleets on short notice and maintain high equipment uptime through dedicated service teams. Its market presence is primarily domestic, with equipment deployed across various states in Northern and Central India. The company has successfully worked on prestigious projects including national highways and industrial corridors, building a reputation for operational excellence in the specialized niche of heavy equipment management.
Revenue Streams & Business Model
The primary revenue channel of Aggcon Equipments International Ltd. is derived from rental income generated by its fleet of infrastructure equipment, supplemented by service income, including the provision of operators and on-site maintenance services. A smaller portion of revenue comes from the sale of used equipment as the company rotates its fleet to maintain a modern and efficient machine profile. The integrated business model covers equipment movement logistics, on-site maintenance and fuel management, providing a "plug-and-play" solution for construction companies.
Management & Shareholding
Aggcon Equipments International Ltd. is promoted by Jitender Aggarwal and Renu Aggarwal, who have been instrumental in scaling the business over the last 20 years. Before the IPO, the promoters held the 99.81% paid-up equity share capital, but after the IPO, the promoters will see a dilution in the shareholding of the ownership stake as the offering includes 94 lakh equity shares offered for sale (OFS) by existing shareholders.
Board & Key Management
The leadership of Aggcon Equipments International Ltd. is led by a team of experts with many years of experience. Jitender Aggarwal serves as the Chairman & Managing Director and gives strategic direction to the firm, with the daily operations, along with Whole-Time Directors Renu Aggarwal and Sachin Kumar. To ensure good governance, the board includes independent directors Dheeraj Sharma, Saurabh Sanyal and Ananta Goyal for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
Aggcon Equipments International IPO Financial Information
Latest Revenue
165.10
₹ Crore
Profit After Tax
30.72
₹ Crore
Net Worth
139.62
₹ Crore
Total Borrowing
381.58
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 580.73 | 165.10 | 30.72 | 139.62 | 130.58 | 381.58 | |||
| 31 Mar 2024 | 415.99 | 138.39 | 22.64 | 108.80 | 107.51 | 265.92 | |||
| 31 Mar 2023 | 312.05 | 111.86 | 27.92 | 86.11 | 84.82 | 172.40 | |||
| Amount in ₹ Crore | |||||||||
Aggcon Equipments International Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 24.73% |
| ROCE | 15.05% |
| Debt/Equity | 2.73x |
| RoNW | 24.73% |
| PAT Margin | 18.60% |
| EBITDA Margin | 61.32% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.40 (basic/diluted) | - |
| P/E (x) | - | - |
Aggcon Equipments International IPO Objectives
The company intended to use the Aggcon Equipments International IPO proceeds for strategic purposes:
- • Repayment or prepayment of debt
- • Funding capital expenditure for the purchase of additional infrastructure equipment
- • General corporate purposes
Aggcon Equipments International IPO Review
Aggcon Equipments International Ltd. is engaged in maintaining a large fleet of equipment to support diverse infrastructure projects; and they are one of the few infrastructure rental companies in India possessing a fleet of all the equipment, ranging from earthmoving equipment, road construction equipment, material handling equipment, concrete equipment, foundation equipment and aerial workspace platforms.
The company intended to use the IPO proceeds to repay or prepay debt, to fund the capital expenditure of the purchase of equipment and for day-to-day operations. The company has shown a growing financial statement for FY25, as the revenue from operations was recorded at ₹164 crore, PAT at ₹307 crore and EBITDA was recorded at ₹100 crore.
Investors should be aware of risks, including the company's performance being closely tied to infrastructure industry cycles, where any slowdown in government spending could lower fleet utilisation. The business is also capital-intensive, requiring constant investment in new machinery to replace aging assets. Despite these factors, the company's strong historical growth and specialized service model provide a strong foundation. Overall, the IPO offers a pure-play opportunity to participate in the "picks and shovels" side of the Indian infrastructure story.
Conclusion
The Aggcon Equipments International IPO provides an opportunity to invest in a company that plays a vital role in executing India's infrastructure projects. With a modern fleet and an established client base, the company has maintained its position as one of the leading and fastest-growing infrastructure equipment rental companies in India. This issue mainly aims to be utilised for debt repayment (pre/post) and to fund the capital expenditure towards equipment purchase and to help in the day-to-day operations.
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Competitive Strengths
Over 20-year track record in the niche infrastructure equipment rental business.
Well-connected with top Indian EPC contractors and infrastructure projects.
An extensive range of the latest heavy construction equipment suitable for different kinds of construction work.
In-house maintenance facility that ensures maximum uptime and operational efficiency of equipment.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 17/10/2025 | - |
| 2 | Filed with SEBI/Exchange | 10/07/2025 | View DRHP |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | — | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | — | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | — | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | — | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | — | Over ₹10,00,000 |