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Explore how Aequs Ltd’s IPO performed on its opening day of subscription, including category-wise investor participation, price band, lot size, important dates, and how investors can apply via ASBA or UPI.
Aequs Ltd opened its maiden public issue on December 3, 2025, bringing to market one of India’s leading aerospace component manufacturers with a strong global customer base. The IPO is a large ₹921.81 Crore book-built issue, offered in a price range of ₹118–₹124 per share, making it one of the more significant mainboard offerings of the month.
With its integrated manufacturing ecosystem and strong export presence, the IPO has drawn notable early attention—particularly from retail and non-institutional investors tracking the aerospace and defence sector.
The Aequs Ltd IPO opened to strong investor interest on Day 1, with participation led by retail and non-institutional bidders. The overall subscription reached 2.91x by the first day’s close, indicating robust early traction.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
0.48x |
Retail Individual Investors (RII) |
10.35x |
Non-Institutional Investors (NII) |
2.67x |
Others |
5.79x |
Total |
2.91x |
The IPO’s debut saw exceptionally strong retail participation, oversubscribing more than 10× on Day 1. NII and “Others” categories also contributed significant demand, signaling confidence in the company’s long-term growth prospects within the aerospace manufacturing space.
The Aequs Ltd IPO continued its rapid growth trajectory on Day 2, registering heightened traction across all investor classes. The overall subscription climbed significantly to 5.43×, driven largely by robust retail and NII participation.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
0.67× |
Retail Individual Investors (RII) |
17.7× |
Non-Institutional Investors (NII) |
6.52× |
Others |
9.34× |
Total |
5.43× |
Retail investors overwhelmingly dominated demand with 17.7× subscription, reflecting extremely strong interest in the offering. NIIs and the “Others” category also saw substantial bidding activity, reinforcing the IPO’s strong reception in the market.
The Aequs Ltd IPO witnessed a sharp surge in investor participation on Day 3, with strong demand emerging across retail, non-institutional, and other investor categories. The overall subscription skyrocketed to 19.73×, reflecting robust market appetite for the company’s public offering.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
0.86× |
Retail Individual Investors (RII) |
47.74× |
Non-Institutional Investors (NII) |
38× |
Others |
20.54× |
Total |
19.73× |
The IPO’s strong Day 3 performance was driven primarily by overwhelming demand from retail and NII investors, both of which saw subscriptions reach multi-fold levels. Institutional participation also improved compared to the previous day, contributing to the growing momentum ahead of the issue’s closure.
The price band for the Aequs Ltd IPO is set between ₹118 and ₹124 per share, with a face value of ₹10 per share. Investors can apply for a minimum of 1 lot (120 shares) and in multiples of 120 shares thereafter.
At the upper price limit, one retail lot amounts to an investment of ₹14,880, making the IPO accessible to a wide range of investors, particularly retail participants interested in the aerospace and manufacturing sectors.
| Investor Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
Retail (Min/Max) |
1 |
120 |
₹14,880 |
S-HNI (Min) |
17 |
2,040 |
₹2,02,320 |
B-HNI (Min) |
84 |
10,080 |
₹9,99,840 |
The pricing and lot structure reflect standard mainboard IPO norms, offering flexible entry points for retail, S-HNI, and institutional investors seeking exposure to India’s expanding aerospace manufacturing ecosystem.
For detailed insights about the company, issue particulars, and the latest updates, visit the Aequs Ltd IPO on Bajaj Markets.
The timeline below shows key milestones for the IPO, from bidding to listing:
| Event | Date | Details |
|---|---|---|
IPO Open Date |
December 3, 2025 |
Subscription begins |
IPO Close Date |
December 5, 2025 |
Final day to place bids |
Basis of Allotment |
December 8, 2025 |
Allotment finalization |
Refunds Initiation |
December 9, 2025 |
Refunds for non-allottees begin |
Credit of Shares to Demat |
December 9, 2025 |
Shares credited to successful applicants |
Listing Date |
December 10, 2025 |
Shares debut on NSE & BSE |
Note: These dates represent procedural milestones based on publicly available data and are intended for informational purposes only.
Investors can apply for the Aequs Ltd IPO using either the ASBA facility through your bank or via UPI on broker platforms.
This is a convenient and secure method where your application amount stays blocked until shares are allotted.
Log in to your internet banking account.
Go to the ‘Investments’ or ‘IPO Application’ section.
Select ‘Aequs Ltd IPO’ from the available list.
Enter your preferred bid quantity and price.
Confirm and submit your application.
The bid amount will remain blocked in your account until allotment.
Upon allotment, the amount will be debited, and shares credited to your Demat account.
You can apply using UPI through your stockbroker’s or financial marketplace’s online platform.
Log in to your trading account or Demat account on your broker’s platform or financial marketplace.
Navigate to the IPO section and select ‘Aequs Ltd IPO’.
Enter your application details including number of lots and price.
Provide your UPI ID linked to your bank account.
Approve the UPI mandate request on your UPI app (like BHIM, Google Pay, or PhonePe).
Funds will be debited only upon share allotment.
Once allotted, shares will be credited directly to your Demat account.
Check other Upcoming IPO’s here: Upcoming IPO
The information provided above is based on publicly available data from reliable financial news and market sources. Investors are advised to verify figures and consult financial experts before making investment decisions. Market conditions and subscription numbers are subject to change during the IPO window.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
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