Aequs
MAINBOARD
Listed
Price Band
₹118 - ₹124
Lot Size
120 Shares
Issue Size
₹670.00 Cr
Fresh Issue
₹469.00 Cr
OFS
₹201.00 Cr
Registrar
KFin Technologies Limited
AI Sentiment Score
Listing Price
₹140.00
vs Issue: ₹124 (+12.90%)
📅 IPO Timeline
✓
Open
Dec 3, 2025
✓
Close
Dec 5, 2025
✓
Allotment
Dec 8, 2025
✓
Refund
Dec 9, 2025
✓
Demat
Dec 9, 2025
✓
Listing
Dec 10, 2025
📈 Grey Market Premium (GMP) Trendline
Daily consensus GMP movement (₹) recorded across market sources
✨ AI Analysis & Prediction
🔒 Final Reconciled Estimate
Locked post-listing with actual debut performance
Aequs displays an established operational footprint with expanding revenue streams (14.8% CAGR) and a defensible value proposition.
💪 Strengths
- Demonstrated operational revenue trajectory with resilient top-line growth (14.8% CAGR).
- Established customer relationships and market position across target industry sectors.
- Sound operational capital returns with Return on Capital Employed (ROCE) at 1.69%.
⚠️ Weaknesses
- Exposure to input cost fluctuations and broader macroeconomic supply chain cycles.
- Working capital requirements to support continuous capacity expansion.
- Competitive landscape from both established incumbents and specialized regional players.
🚀 Opportunities
- Industry tailwinds from rising domestic capex and infrastructure spending.
- Operating leverage potential allowing margin expansion as manufacturing utilization rises.
- Geographic diversification and entry into higher-margin specialized product lines.
🛡️ Threats
- Sectoral regulatory shifts and evolving statutory compliance requirements.
- Aggressive pricing actions by domestic competitors impacting gross margins.
- Broader market equity volatility and liquidity fluctuations.
📊 Financial Overview & Growth Trajectory
Multi-year operational scale & net profitability trajectory
| Metric | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue (₹ Cr) | Rs 812.00 Cr | Rs 965.00 Cr | Rs 925.00 Cr | Rs 1,230.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs -110.00 Cr | Rs -14.00 Cr | Rs -102.00 Cr | Rs -113.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 40.00 Cr | Rs 129.00 Cr | Rs 79.00 Cr | Rs 92.00 Cr |
| Borrowings (₹ Cr) | Rs 664.00 Cr | Rs 1,106.00 Cr | Rs 785.00 Cr | Rs 701.00 Cr |
| Total Assets (₹ Cr) | Rs 1,352.00 Cr | Rs 1,852.00 Cr | Rs 1,903.00 Cr | Rs 2,733.00 Cr |
| ROE % | 0.00% | 0.00% | 0.00% | 0.00% |
| ROCE % | 1.69% | 1.69% | 1.69% | 1.69% |
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Equity
0.47
📋 Live Subscription Status
QIB
120.92x
NII
87.87x
Retail
78.05x
Total
101.63x
🎯 Retail Allotment Probability
1.3% Odds
1 in 78.1 chance (~1.3% probability per PAN)
SEBI Rule: Under SEBI lottery allotment rules, applying for multiple lots under Retail does NOT increase your lottery odds. All valid retail applicants have identical 1-lot odds per PAN.
Updated: Sep 12, 2026 2:33 PM
💼 Issue Structure & Reservation Quota
Capital Structure
₹670.0 Cr
Issue Size
Fresh (70%)
OFS (30%)
Reservation Quota
100%
Allocation
QIB (50%)
NII (15%)
Retail (35%)
QIB
50.00%
Retail
35.00%
NII
15.00%
🔗 Important Links & Lead Managers
- SEBI Filings (DRHP)View on SEBI →
- SEBI Filings (RHP)View on SEBI →
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.