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| IPO Listing At | BSE, NSE |
| IPO Issue Type | Book Build Issue |
| Issue Size | ₹921.81 Cr |
| Fresh Issue | ₹670.05 Cr |
| Offer for Sale | ₹251.76 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹118.00-124.00 per share |
| Discount | Employee: 11.00 |
| BSE Code | 544634 |
| NSE Code | AEQUS |
| Registrar | Kfin Technologies Ltd. |
| Lead Managers | Kotak Mahindra Capital Co.Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 120 shares and in multiples thereof
Incorporated in 2000, Aequs Ltd. is engaged in manufacturing and operating a special economic zone in India to offer fully vertically integrated manufacturing capabilities in the Aerospace Segment.
The company's diverse product portfolio includes components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for the aerospace clients.
The company primarily operate in the Aerospace Segment, over the years, they have expanded their product portfolio to include consumer electronics, plastics, and consumer durables for their consumer clients.
As of September 30, 2025, the company produced over 5,000 products within the Aerospace Segment under a variety of manufacturing and assembly programs established with their aerospace customers, including programs for single aisle (such as A220, A320, B737) and long range (A330, A350, B777, B787) commercial aircrafts.
Product Portfolio:
As of September 30, 2025, the company had 1,892 full-time employees, 1,834 employees on a contractual basis, 55 trainees, 432 apprentices and 325 fixed term employees.
Competitive Strengths:
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable, availed by The Company | 17.55 |
| 2 | Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable, availed by three of the wholly-owned Subsidiaries, through investment in the below Subsidiaries | 415.62 |
| 3 | Funding capital expenditure to be incurred on account of purchase of machinery and equipment by company & wholly-owned Subsidiaries, AeroStructures Manufacturing India Private Limited, through investment in such Subsidiary | 64.00 |
| 4 | Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes | 125.21 |
| Total | 622.38 |
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|---|
| Assets | 2,134.35 | 1,859.84 | 1,863.50 | 1,822.98 | 1,321.69 |
| Total Income | 565.55 | 959.21 | 475.51 | 988.30 | 840.54 |
| Profit After Tax | -16.98 | -102.35 | -71.70 | -14.24 | -109.50 |
| EBITDA | 84.11 | 107.97 | 57.82 | 145.51 | 63.06 |
| NET Worth | 796.04 | 707.53 | 731.65 | 807.17 | 251.91 |
| Reserves and Surplus | 200.43 | 135.09 | -90.83 | -15.31 | -146.15 |
| Total Borrowing | 533.51 | 437.06 | 384.79 | 291.88 | 346.14 |
| Amount in ₹ Crore | |||||
| KPI | Mar 31, 2025 |
|---|---|
| ROE | -14.30% |
| ROCE | 0.87% |
| Debt / Equity | 0.99% |
| RoNW | -14.47% |
| PAT Margin | -11.07% |
| EBITDA Margin | 11.68% |
| Price to Book Value | 9.94 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | -1.66 | -ve |
| P/E (x) | -74.71 | -ve |
| Promoter Holding | 64.48% | 59.09% |
| Market Cap | ₹8316.06 Cr. | |
