Aequs IPO Day One Subscription Opens: Check Latest GMP
The company said it has garnered Rs 414 crore from anchor investors, ahead of its IPO.
Aequs IPO: The initial public offering (IPO) of Aequs Ltd, a contract manufacturing firm specialising in consumer durable goods and aerospace parts opened for subscription on Wednesday, December 3.
The issue will end on Friday, December 5.
The company said it has 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.
As per the circular, Aequs has allotted around 3.34 crore equity shares to 33 funds at Rs 124 apiece, raising Rs 413.92 crore. The price band has been set at Rs 118-124 per share for the issue, valuing Aequs at over Rs 8,300 crore.
The IPO offer structure comprises a fresh issue of shares worth Rs 670 crore, along with an offer for sale (OFS) of 2.03 crore shares valued at Rs 252 crore by promoters and existing investors, taking the total issue size to Rs 922 crore.
Aequs GMP Today
The grey market premium of Aequs is Rs 46 as of 9:45 a.m. on Wednesday as per the Investorsgain website. The GMP indicated a listing price of Rs 170.5 and a listing premium of 37.50%.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Aequs Subscription Status
The Aequs Ltd. IPO has been subscribed 0.04 times as of 10:00 a.m. on Wednesday.
Qualified Institutional Buyers (QIBs): 0
Non-Institutional Investors (NIIS): 0.07 times
Retail Individual Investors: 0.10 times.
About Aequs Technologies
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.
It operates manufacturing facilities across India, France, and the USA. In India, the company runs three manufacturing clusters in Belagavi, Hubballi, and Koppal in Karnataka.
The company 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 December 10.
