Highlights: Investors await share allotment results for the Aequs IPO today. Here’s the latest on allotment status, refund process, Demat credit, GMP trends, and expected listing date.
| Aequs IPO | Key Details |
| Price Band | Rs 118-124 per share |
| IPO Date | December 3-5 |
| GMP | 37% |
| IPO Allotment date | December 8 |
| Listing date | December 10 |
The GMP of Aequs stood at 30%, which has declined from 37.5% it was fetching on December 02. The company kept the IPO price band between Rs 118 to Rs 124 per equity share. The company raised Rs 921.81 crores from investors. The issue is a combination of 5.40 crore fresh shares of Rs 670 crores and an offer for sale of 2.03 crore shares amounting to Rs 251.81 crores.
Aequs IPO: key details
The IPO opened for subscription on December 03 and will close on December 05. The issue will be listed on the bourses, NSE and BSE, on December 10, as per the tentative schedule. The issue included a reservation of up to 1,76,991 shares for employees offered at a discount of Rs 11 to the issue price.
Aequs IPO: Book runner and registrar
JM Financial is the book-running lead manager for the IPO of Aequs, and Kfin Technologies is the registrar of the issue.
Aequs strategically expanded its manufacturing operations in North America and France, through acquisitions in 2015 and 2016, respectively, which has allowed the company to acquire new capabilities in the Aerospace Segment, grow its footprint in North America and Europe, and expand its portfolio of products.
Aequs has also entered into joint ventures to enhance its capabilities to develop new products and deliver engineering solutions, by harnessing the complementary expertise of the company’s joint venture entities for production of complex and niche products required by its customers. The company’s JV SQuAD Forging India (SQuAD) has equipped the company with enhanced capabilities to, among others, forge small to medium-sized aerostructural parts for engines, landing gear and braking system components in aluminium, steel, titanium or nickel-based alloys.
Aequs IPO Allotment, GMP, Listing LIVE Updates: How the funds will be used
Money raised through the fresh issue will go toward expanding manufacturing capabilities, paying down debt, and supporting general corporate functions. Proceeds from the OFS will go to the selling shareholders.
Aequs IPO Allotment, GMP, Listing LIVE Updates: How the funds will be used
Money raised through the fresh issue will go toward expanding manufacturing capabilities, paying down debt, and supporting general corporate functions. Proceeds from the OFS will go to the selling shareholders.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Price band and lot requirements
The company set a price band of Rs 118 to Rs 124 per share. Retail applicants were required to bid for a minimum lot of 120 shares, translating into an investment of about Rs 14,880 at the upper end of the band.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Pre-listing outlook
“We expect Aequs Ltd to list in the Rs 154–Rs 160 range, translating into a 24–39% premium over the issue price, supported by strong subscription traction and investor interest in one of India’s most advanced, fully integrated aerospace precision-manufacturing platforms," said Prashanth Tapse, Senior VP (Research), Mehta Equities.
"At the upper end of the price band (Rs 124), the IPO values Aequs at a market cap of approximately Rs 8,316 crore. On FY2026 annualised earnings, the company is asking for a price-to-book multiple of 5.7x, which appears reasonable compared with listed peers trading at an average of ~10x. Given its strong competitive positioning, global customer relationships, and alignment with India’s expanding aerospace manufacturing opportunity, we recommend that allotted investors “HOLD FOR LONG TERM," he added
Aequs IPO Allotment, GMP, Listing LIVE Updates: Issue structure
Aequs’ public offer includes a fresh issue of 5.40 crore shares worth Rs 670 crore. Alongside this, existing shareholders offloaded another 2.03 crore shares through an offer for sale amounting to Rs 251.81 crore. Combined, the issue size stands at Rs 921.81 crore.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Subscription closes, listing set for December 10
Aequs initial public offering wrapped up on December 5, and the company has now moved into the final stages of its market debut. The allotment was completed on December 8, and the shares are scheduled to list on both NSE and BSE on December 10.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Canada JV
Aequs' joint venture with Magellan Aerospace, Canada formed in 2007, Aerospace Processing India (“API”), has enabled them to provide innovative surface treatment solutions. Further, the company's joint venture with Tramontina, Aequs Cookware equips it with technical capabilities to develop innovative consumer products.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Entered into JV
Aequs has also entered into joint ventures to enhance its capabilities to develop new products and deliver engineering solutions, by harnessing the complementary expertise of the company's joint venture entities for production of complex and niche products required by its customers. The company's JV SQuAD Forging India (SQuAD) has equipped the company with enhanced capabilities to, among others, forge small to medium-sized aerostructural parts for engines, landing gear and braking system components in aluminium, steel, titanium or nickel-based alloys.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Storng manufacturing capabilities
Aequs leverages its engineering capabilities to create innovative products and engineering solutions for its OEM customers. The company's manufacturing capabilities allow it to develop fully manufactured products based on initial concepts and technical specifications from customers. Further, the company has been able to enter into new business segments by leveraging existing core capabilities.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Expansion in north America and Europe
Aequs strategically expanded its manufacturing operations in North America and France, through acquisitions in 2015 and 2016, respectively, which has allowed the company to acquire new capabilities in the Aerospace Segment, grow its footprint in North America and Europe, and expand its portfolio of products.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Key risks
Aequs faces key risks from its high leverage and capital-intensive model, heavy dependence on a concentrated Aerospace customer base, long working-capital cycles, and strict certification-driven quality requirements, any disruption across these areas could materially impact cash flows, margins, and operational stability.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Good experience in aero space
The company commenced manufacturing of aero-structure components and aero-engine components for aerospace clients in its units in the Belagavi Manufacturing Cluster in 2009. Over the past 15 years, they have consistently grown their business by developing and acquiring new manufacturing capabilities, and diversifying their product portfolio and customer base across the Aerospace Segment and Consumer Segment.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Brokerage take on this IPO
“Aequs has embedded itself in the global commercial aircraft component ecosystem, an industry that has high entry barriers. Both the leading OEMs – Boeing and Airbus have a large order book for aircraft, which should translate into robust demand for components. The Aerospace segment is operationally profitable with a consistently improving EBITDA margin. The planned debt repayment from the IPO proceeds will result in substantial savings on interest cost, which should also result in the company turning profitable at the PAT level. At the upper price band of Rs 124, the stock is valued at 8.7x EV/Sales on post-issue capital. We recommend investors ‘Subscribe’ to the issue at the cut-off price,” said SBI Securities in an IPO note.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Risk of regulation
As a manufacturer of products within the Aerospace segment and Consumer segment, the company is required to comply with the regulations and quality standards stipulated by the regulatory authorities in India, the US, France and the countries to which it exports. Thus, the units in the manufacturing clusters that the company operates in and facilities are subject to periodic inspections and audits by regulatory authorities. In a case where the company is the recipient of adverse observations from such visits, it may damage its business and reputation, leading to an adverse effect on its business.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Listing details
The share of the company is set to list on NSE and BSE on December 10.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Angel One take on this IPO
Angel One in an IPO note said, “At the upper price band of Rs 124, Aequs is valued at 9.94× P/B as negative earnings make P/E irrelevant. The valuation reflects its integrated aerospace ecosystem, strong asset base and long cycle growth potential and a high barrier to entry business.”
Aequs IPO Allotment, GMP, Listing LIVE Updates: Risk of high customer concentration
As of H1 FY26 and FY25, the company’s top 10 customers contributed 83% and 89% to the total revenue. As of FY23 and FY24, the company had faced a decrease in revenue from one of its largest customer groups, Hasbro, primarily due to a decrease in their overall volume of consumer products sold, which in turn led to a decrease in volume of products within the Consumer segment. Thus, any failure by the company to maintain relationships with these customer groups or any adverse changes affecting their financial condition may adversely affect the company’s business.
Aequs IPO Allotment, GMP, Listing LIVE Updates: State of issues and shares
The issue is a combination of 5.40 crore fresh shares of Rs 670 crores and an offer for sale of 2.03 crore shares amounting to Rs 251.81 crores.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Price band
Aequs kept the IPO price band between Rs 118 to Rs 124 per equity share. The company raised Rs 921.81 crores from investors.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Lead manager
JM Financial is the book-running lead manager for the IPO of Aequs,.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Quality control
Aequs’ quality control infrastructure, including inspection equipment such as coordinate measuring machines, optical measuring machines and non-destructive testing equipment, supports precise validation of product specifications. In addition, the company’s manufacturing facilities are periodically inspected and audited by regulatory authorities and customers.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Listing details
Aequs is set to make its market debut on December 10. Once listed, the company’s shares will start trading on both the NSE and BSE as part of regular market hours.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Checking allotment status
- Go to the BSE IPO allotment status page.
-Select ‘Equity’ as the issue type.
-From the dropdown, choose Vidya Wires.
-Enter your application number or PAN.
-Complete the captcha by ticking ‘I’m not a robot’ and click on Search.
Aequs IPO Allotment, GMP, Listing LIVE Updates: Check IPO allotment status on NSE
Aequs IPO Allotment, GMP, Listing LIVE Updates: Check IPO allotment status on NSE
Via NSE Website
-Visit the NSE IPO application tracking page.
-Then, click on ‘Equity and SME IPO Bid Details’.
-Select ‘Vidya Wires’ from the list.
-Provide the details such as your application number and PAN.
-Submit to view your allotment status.
Aequs began producing aero-structure and aero-engine parts for aerospace customers in 2009 at its facilities in the Belagavi Manufacturing Cluster. Over the last 15 years, the company has steadily expanded by adding new manufacturing skills, broadening its product range, and growing its customer base across both its aerospace and consumer businesses.
Aequs IPO Allotment, GMP, Listing LIVE Updates: About Company
Aequs IPO Allotment, GMP, Listing LIVE Updates: About the company
Aequs began producing aero-structure and aero-engine parts for aerospace customers in 2009 at its facilities in the Belagavi Manufacturing Cluster. Over the last 15 years, the company has steadily expanded by adding new manufacturing skills, broadening its product range, and growing its customer base across both its aerospace and consumer businesses.
Aequs IPO Allotment, GMP, Listing LIVE Updates: AngelOne take on this IPO
Angel One in an IPO note said, “At the upper price band of Rs 124, Aequs is valued at 9.94× P/B as negative earnings make P/E irrelevant. The valuation reflects its integrated aerospace ecosystem, strong asset base and long cycle growth potential and a high barrier to entry business.”
Aequs IPO Allotment, GMP, Listing LIVE Updates: Listing details
Aequs is set to make its market debut on December 10. Once listed, the company’s shares will start trading on both the NSE and BSE as part of regular market hours.