The listing of Aequs Ltd. will be in focus as investors await the company's debut on the stock market.
Shares of Aequs will list on the BSE and NSE on Wednesday, December 10. The share allotment status for the IPO was finalised on Monday. Successful bidders were allotted shares on Tuesday, and refunds were also issued on the same day.
Ahead of its listing, the grey market premium, an unofficial barometer of the expected share price, has declined, falling 32% from the day the IPO was launched. The grey market premium (GMP) for the Aequs IPO indicates a positive listing gain of 25% per share over the issue price.
The IPO of the Bengaluru-based precision component manufacturer specialising in aerospace solutions was oversubscribed 101.63 times (led by demand from QIBs), with investors bidding for 4,27,13,40,720 shares against the 4,20,26,913 on offer.
Here’s a look at the latest market trends for the Aequs IPO.
Aequs IPO GMP and Expected Share Price
The latest GMP for the IPO was Rs 31 on December 10. This means that Aequs' shares are expected to list at Rs 155, a premium of 25% over the upper end of the IPO price band.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
About Aequs IPO
The Aequs IPO was a book-building issue worth Rs 921.81 crore. The IPO comprised a fresh issue of 5.4 crore shares, amounting to Rs 670 crore, and an offer-for-sale (OFS) of Rs 2.03 crore shares worth Rs 251.81 crore.
The price band for the IPO was set at Rs 118 to Rs 124 per share. The lot size per application was 120 shares. Retail bidders were required to apply for at least one lot, amounting to a minimum investment of Rs 14,880 at the upper end of the price band. The minimum application size for small Non-Institutional Investors (NIIs) was 14 lots, aggregating to an investment of Rs 2,08,320.
JM Financial Ltd. was the book-running lead manager, while the issue registrar was Kfin Technologies Ltd.
Aequs IPO - Use Of Proceeds
The company has proposed to use a major portion of the IPO funds to repay debts. A portion of the funds will also be used for capital expenditure for the purchase of machinery and equipment. The company will utilise remaining funds for inorganic growth and general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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