Aequs IPO Subscription Status : IPO Subscribed Over 8×; Retail and NII Investors Drive Heavy Bidding 

Thursday, December 04, 2025: The IPO of Aequs Ltd has witnessed strong demand from all categories of investors. As of 01:30 PM, Thursday, the issue was oversubscribed by 8.11 times with massive interest from the retail investors and NIIs. The issue shall remain open until tomorrow (December 05, 2025).  

Aequs Subscription Details (Thursday, 01:30 PM) 

As per the latest updates, the issue has been oversubscribed by 8.11 times (overall). The retail investors have led the total demand, and their quota has been met with a massive 25.79× subscription. The NIIs have also oversubscribed their allocated quota by 11.11× (bNII 9.03×; sNII 15.66×). There is also strong participation by the employee group (12.59 times). The QIBs have subscribed 0.69 times of their quota and most of the institutional bids are usually expected on the last date of public issue.  

Aequs IPO Structure and Price Band 

Aequs IPO is a book build issue of ₹921.81 crores. The issue is a combination of fresh issue of 5.40 crore shares aggregating to ₹670.00 crores and offer for sale of 2.03 crore shares aggregating to ₹251.81 crores. 

Aequs IPO price band is set at ₹118.00 to ₹124.00 per share. The lot size for an application is 120. The minimum amount of investment required by a retail is ₹14,880 (120 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,680 shares), amounting to ₹2,08,320, and for bNII, it is 68 lots (8,160 shares), amounting to ₹10,11,840. 

Aequs Strengths and Weaknesses of the Company 

As per the RHP, the company has several strengths and weaknesses. The company works and operates in the vertically integrated precision-manufacturing ecosystem. This means that it covers a wide range of processes starting with machining & forging to surface treatment and assembly. The company also supplies major global original equipment manufacturers (OEMs) within the aerospace sector and has close relationship with the consumers. 

On the flip side, there are concentration risks as the company is heavily dependent on a few companies, and a large portion of the sales come from the aerospace sector which is subject to cyclical and economic downturns.  

 The company aims at using the proceeds of the IPO in different strategic areas such as repay­ment or prepayment of borrowings, funding capital expenditure through purchase of machinery and equipment and supporting growth initiatives.  

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