Aequs IPO subscription opens on December 3: Check IPO GMP, issue price and 4 critical details

Aequs IPO: Public Offering Set for December 3

Investor attention is likely to remain high on December 3 as Aequs, Vidya Wires, and Meesho are scheduled for their initial public offerings (IPOs) on the same day. Before placing bids, investors should assess the key monitorables related to Aequs’ public offering.

Aequs IPO Details

• Issue Size and Promoter Group: Aequs’ IPO of Rs 921.81 crore is a combination of both fresh issue and offer for sale. Of the total float, Rs 670 crore will be raised through a fresh issue of 5.40 crore shares, while 2.03 crore shares worth Rs 251.81 crore will be offloaded through the OFS route.
• Price Band: Aequs has fixed its price band between Rs 118-124 per share.
• Grey Market Premium (GMP): The company’s shares are trading at Rs 171 in the unlisted market, marking a grey market premium of nearly 38% on the upper end.

However, it's essential to note that GMP is not an official metric for the listing price and fluctuates based on market conditions and investor sentiment.

Tentative Listing Dates

• IPO Opening and Closing: Aequs’ IPO will open for bidding on December 3 and close on December 5.
• Share Allotment and Refunds: Share allotment is expected by December 8, and the credited shares, along with initiation of refunds for unsuccessful bids, will take place on December 9.
• Listing Date: The company is likely to be listed on the stock exchanges on December 10.

Utilisation of Funds

Aequs plans to deploy around Rs 433.1 crore of the proceeds towards repayment of borrowings and penalties. Approximately Rs 64 crore will be used to acquire new machinery and equipment for the company and its subsidiaries, including AeroStructure Manufacturing India and Aequs Consumer Products. The remaining funds will support expansion plans, potential acquisitions, and general corporate requirements.

Risk Factors to Watch Out For

Investors should be mindful of key risks associated with Aequs’ public offering. The company relies heavily on the aerospace sector, which contributed over 89% of its FY25 revenue. This could make it vulnerable to demand fluctuations. Additionally, long working capital cycles and strict certification-based quality requirements may disrupt its order completion timeline, affecting cash flows, margins, and operational stability.