Aequs IPO Gets Subscribed 101.63 Times On Last Day Led By QIBs

The initial public offer of Aequs Ltd. was subscribed 101.63 times on the last day on Friday.

The company garnered Rs 414 crore from anchor investors, ahead of its IPO. The anchor book saw participation from domestic and global institutional investors, including SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Axis MF, Motilal Oswal MF, BlackRock Global Funds, Steadview Capital, and Citigroup, according to a circular uploaded on BSE's website.

The grey market premium of Aequs is Rs 43 as of 7:01 p.m. on Friday, as per the Investor Gain website. The GMP indicated a listing price of Rs 167 and a listing premium of 34.68%.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

The Aequs IPO was subscribed 101.63 times as of 7:00 p.m. on Friday.

• Qualified institutional buyers (QIB): 120.92 times

• Non-Institutional investors (NII): 80.62 times

• Retail investors: 78.05 times

• Employee Reserve: 35.85 times

Aequs primarily operates in the aerospace segment, but over the years, it has expanded its product portfolio to include consumer electronics, plastics, and consumer durables. Its consumer products include cookware and small home appliances, while its plastics offerings include outdoor toys, figurines, toy vehicles, and components for consumer electronics such as portable computers and smart devices.

The company is backed by prominent investors, including Amicus Capital, Amansa Capital, Steadview Capital, Catamaran—the family office of Infosys founder N R Narayana Murthy, and Sparta Group.

Its key clients are Airbus, Boeing, Bombardier, Collins Aerospace, Spirit AeroSystems Inc., Safran, GKN Aerospace, Mubea Aerostructures, Honeywell, Eaton, and Sabca in aerospace, and Hasbro, Spinmaster, Wonderchef, and Tramontina in consumer products.

The firm operates manufacturing facilities across India, France, and the USA. In India, the company runs three manufacturing clusters in Belagavi, Hubballi, and Koppal in Karnataka.

Aequs has been founded by Aravind Melligeri, who has long experience in the aerospace sector, and was a co-founder of Quest Global Engineering. The company will make its debut on the stock market on Dec. 10.