Aequs IPO booked 3.42x on first day — GMP signals 37% listing pop. Check details

Aequs IPO: The initial public offering (IPO) of Aequs, a contract manufacturing company specialising in consumer durables and aerospace components, witnessed strong traction on the first day of the bidding process on Wednesday, December 3.

The issue sailed through amid strong demand from retail, HNI and employee quotas, while institutional investors also lent support. The grey market premium (GMP) for the Aequs IPO remained firm, thus keeping investor interest heightened.

Aequs IPO Subscription Status

Aequs IPO was booked 3.42 times on the first day of the bidding.

Retail investors led the demand, with their portion subscribed 11.46 times, while the non-institutional investor category was subscribed 3.40 times. The employee portion was booked 6.72 times, and the qualified institutional buyer segment 66%.

Aequs IPO GMP

Aequs IPO GMP today stood at ₹45.5. This means shares of Aequs are trading ₹45 above the upper end of the price band. At the prevailing GMP, Aequs share price could list at ₹169.5 apiece, a premium of 36.7%.

The lowest GMP for Aequs IPO is ₹18 and the highest GMP is ₹46.50 so far.

Aequs IPO Details

Ahead of the offer launch, Aequs raised ₹414 crore from anchor investors. The offering, which closes on December 5, has a price band of ₹118–124 per share, valuing the company at over ₹8,300 crore. The lot size for an application is 120.

The IPO comprises a fresh issue of ₹670 crore and an offer for sale (OFS) worth ₹252 crore by promoters and existing shareholders, taking the total issue size to ₹922 crore.

The company plans to use the proceeds from the fresh issue to repay loans of the company and its subsidiaries — AeroStructures Manufacturing India and Aequs Consumer Products —procure machinery and equipment for both entities, pursue acquisitions and strategic growth initiatives, and meet general corporate requirements.

While Aequs’ core business lies in aerospace manufacturing, the company has diversified into consumer electronics, plastics, and consumer durables.

Its consumer portfolio includes cookware and small appliances, while its plastics division produces outdoor toys, figurines, toy vehicles, and components used in consumer electronics such as portable computers and smart devices.

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