Apsis Aerocom IPO
smelistedAbout the company
Apsis Aerocom is a precision engineering company with primary focus on manufacture of components and allied services for the aerospace, defence and healthcare industries. The company uses a build-to-print model for manufacturing, which means that parts are made exactly to the customer's designs and specifications. It also sells products directly to customers without using distributors. Its product line includes precision mechanical parts like insert parts for connectors, camera interior parts, bottom boxes, top boxes, panel boxes, cover plates, scanner focusing blocks, scanner arms and other machined parts used in medical diagnostic scanners, defence equipment and aerospace communication systems. Industry-wise, the largest contributor to revenue is the defence sector, which accounts for 45.36% of the revenue in FY25, followed by the aerospace sector, which accounts for 30.11% of the revenue, and the healthcare sector, which accounts for 22.35%. The remaining revenue is from other small industries like industrial machinery and metal recycling. Domestic markets contributed 98.98% of the revenue in FY25, while 1.02% of the revenue comes from exports to places like the USA, Israel, and Spain. Within India, major revenue comes from Telangana (60.52%) and Karnataka (37.58%). The company has a factory in Peenya Industrial Area, Bengaluru that can make 1,50,000 parts a year. In FY25, it used 82.01% of its capacity and made 98,412 parts. It is also setting up a second manufacturing unit that is expected to increase total capacity to around three lakh components annually, while the company received purchase orders worth ₹18.76 crore during FY25.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 13 Mar | ₹13 | ₹123 | -5 |
| 12 Mar | ₹18 | ₹128 | -5 |
| 11 Mar | ₹23 | ₹133 | +14 |
| 10 Mar | ₹9 | ₹119 | +9 |
| 09 Mar | ₹0 | ₹110 | 0 |
| 08 Mar | ₹0 | ₹110 | 0 |
| 07 Mar | ₹0 | ₹110 | 0 |
| 06 Mar | ₹0 | ₹110 | 0 |
Strengths
- Operates in precision engineering serving aerospace, defence, and healthcare sectors
- Provides integrated manufacturing solutions including machining, finishing, and assembly
- Equipped with advanced CNC machinery and modern manufacturing capabilities
- Certified quality standards supporting high precision manufacturing
- Established relationships with domestic and international customers
- Experienced management team with strong engineering expertise
- Growing demand from aerospace and defence industries supports long-term growth potential
Risks
- High dependence on a limited number of key customers
- Production may be affected by disruptions at manufacturing facilities
- Dependence on skilled technical workforce and key personnel
- Exposure to regulatory and compliance requirements in aerospace and defence sectors
- High working capital requirements typical in manufacturing businesses
- Competitive pressure from established precision engineering companies
- SME listing may result in lower liquidity and higher share price volatility
Financial performance (₹ Cr)
IPO Roadmap / Timeline
IPO Opens
Completed11 Mar 2026Bidding starts for all investor categories
IPO Closes
Completed13 Mar 2026Last day to place your bid
Basis of Allotment
Completed16 Mar 2026Share allotment finalised
Refund Initiation
Completed17 Mar 2026Refunds credited for non-allottees
Credit to Demat
Completed17 Mar 2026Allotted shares credited to demat account
Listing on Exchange
Completed18 Mar 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 1200 | ₹132,000 | 1 | ₹132,000 | 1 lot only |
| HNI | 2 | 2400 | ₹264,000 | 2 | ₹264,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 1,682,243 | 18 | 0 | 0.00x | 100% |
| NII | 15% | 504,673 | 5.4 | 0 | 0.00x | 100% |
| Retail | 35% | 1,177,570 | 12.6 | 0 | 0.00x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
