Aequs IPO

About the company

Aequs Limited is a precision component manufacturer offering fully vertically-integrated aerospace manufacturing within a single Special Economic Zone (SEZ) in India. Its expertise spans machining, forging, surface treatment and assemblies, enabling comprehensive “one-stop-shop” solutions for global aerospace OEMs. The company has one of the largest aerospace product portfolios in India, manufacturing over 5,000 aerospace components across engine systems, landing systems, cargo and interiors, structures and assemblies. While aerospace remains the core business, Aequs has strategically diversified into consumer electronics, plastics and consumer durables. For the six months ended September 30, 2025, the aerospace segment contributed 88.23% of net external revenue, and the consumer segment contributed 11.77% to revenue from operations. The company operates through three integrated manufacturing ecosystems in India -Belagavi (precision aerospace), Hubballi (consumer electronics and durables), and Koppal (plastics). Collectively, these clusters provide 2,201,098 sq. ft. of manufacturing area as of September 30, 2025 and an aggregate capacity of 2,919,058 annual machining/moulding hours for products within the aerospace segment and consumer segment, and over 200 computer numerical control (CNC) machines for the aerospace segment and 161 moulding machines deployed for consumer products. The company also maintains strategic overseas facilities in the U.S. (Texas) and France, supporting proximity to key OEM customers. Net external revenue from the aerospace segment in India accounted for 75.60% of revenue, France 11.66% and the USA 12.74% as of September 2025. Its blue-chip global customer base includes Airbus, Boeing, Bombardier, Spirit Aerosystems, Safran, Collins Aerospace, Eaton, and Honeywell on the aerospace side, with Hasbro, Spinmaster, Wonderchef and Tramontina in the consumer segment. The company’s top five customers accounted for 66.36% of revenue from operations in the six months ended September 30, 2025, indicating high customer loyalty. The company has unique metallurgy capabilities such as precision machining of high-end alloys, including titanium alloys, and holds multiple international certifications such as ISO 9001:2015, AS9100D and NADCAP. It has also received multiple recognitions from Airbus, including the Ramp-up Champion Award (2024) and six D2P awards between 2016–2023. Additionally, the company employs 4,538 people, including 855 engineers as of September 30, 2025, ensuring strong in-house R&D and process-engineering capability. The Indian Aerospace manufacturing market is expected to grow at a CAGR of 11.96% between CY24 to CY30. The company is well-positioned to grow as it is the only precision component manufacturer in India offering fully vertically-integrated aerospace capabilities within a single SEZ. Additionally, the global PC & laptop, tablets and wearables market is projected to grow from $351.6 billion in 2024 to $405.4 billion in 2030, registering a CAGR of 2.89%. The company is set to benefit from this as it is leveraging its aerospace-grade precision to scale consumer electronics manufacturing, enabling participation in the PLI and semiconductor incentive schemes. The company aims to move up the value chain and increase the manufacture of more critical and complex parts in the aerospace segment and enter into long-term master service agreements (“MSAs”) with its clients. Additionally, it aims to grow its portfolio of consumer products and expand its market share in related precision-driven sectors in India. Now, Aequs Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹670 crore and an offer for sale of ₹251.81 crore. The total issue size of the IPO is ₹921.81 crore. Its shares will be listed on the NSE and BSE. ### **How to apply for the Aequs IPO?** If you are interested in this investment opportunity but unsure how to apply for the Aequs IPO, here are the steps that you need to follow. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Aequs IPO on Upstox: - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Aequs IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ### **How to check Aequs IPO Allotment Status? ** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes. Here’s a step-by-step guide on how to check the Aequs IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your Aequs IPO allotment status will be mentioned ### **How to pre-apply for the Aequs IPO?** You can pre-apply for the Aequs IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Aequs IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   03 Dec 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   05 Dec 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   08 Dec 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   09 Dec 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   09 Dec 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   10 Dec 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.