Aequs Ltd – IPO Overview

Company Background

Founded in 2000, Aequs Ltd is a leading vertically integrated manufacturing company, primarily serving the aerospace industry. It also operates a dedicated Special Economic Zone (SEZ) in India that supports end-to-end manufacturing for global aerospace clients.

Over the years, Aequs has diversified into consumer electronics, plastics, and consumer durables, expanding its reach beyond aerospace.

As of 30 September 2025, the company has produced more than 5,000 aerospace products, contributing to major aircraft programs such as A220, A320, B737, A330, A350, B777, and B787.

Product Portfolio

1. Structures: Includes brackets, corner fittings, cable quadrants, triangular brackets, wing-flap supports, coupling parts, gearbox brackets, latch assemblies, and other structural components.

2. Interiors & Cargo: Covers power distribution trays, side panels, pawls, seat bases, beam-back supports, panel-side tops, seat stays, housing components, and offset brackets.

3. Landing Systems: Includes main landing gear components, bracket assemblies, front panel uplock systems, rims, wheel halves, and main fitting assemblies.

4. Actuation Systems: Consists of housings, manifolds, mounting flanges, actuator pistons, jack heads, and other related components.
   

Objects of the IPO:

• Repayment/Prepayment of Borrowings: ₹433.17 crore

• Funding Capital Expenditure: ₹64 crore

• Inorganic Growth, Acquisitions & Strategic Initiatives: ₹75 crore

• General Corporate Purposes: ₹97.83 crore

Aequs IPO: Key Details

• IPO Dates: 3 – 5 Dec 2025

• Price Band: ₹118 to ₹124 per share

• Lot Size: 120 shares

• Total Issue Size: ₹921.81 Cr

• Fresh Issue: ₹670 Cr

• Offer for Sale: ₹251.81 Cr

• Retail Quota: 10%

• GMP (Informational Only): 30%

Allotment Link

Strengths:

1. Fully vertically integrated aerospace ecosystem offering end-to-end manufacturing.

2. Strong international presence with facilities in India, France, and the U.S.

3. Long-term relationships with leading global OEMs.

4. Proven capability across machining, forging, surface treatment, plastics, toys, and electronics.

5. A scalable, cluster-based manufacturing setup ensuring cost efficiency and timely delivery.

   
   

Risks:

1. High dependency on the aerospace sector and a limited number of large customers.

2. Exposure to geopolitical risks, global economic cycles, and supply-chain disruptions.

3. Significant working capital and capex requirements.

4. Foreign exchange fluctuations could impact margins due to global operations.

5. Any delays or quality concerns could impact customer confidence and long-term contracts.