Precision Manufacturer Aequs to Open IPO on December 3; Price Band Set at ₹118–₹124
Aequs Targets Next Phase of Expansion with IPO Launch, Backed by Vertically Integrated SEZ Model
From Belagavi to Global Markets: Aequs Sets Stage for Growth with ₹670-Crore Public Issue
Aequs Limited to Launch ₹670-Crore IPO on December 3: India’s Vertically Integrated Aerospace Manufacturer Charts Next Phase of Growth
Bilkul Bazaar
Ahmedabad | 02 Dec 2025
Aequs Limited, one of India’s leading precision component manufacturers with unique vertically integrated capabilities in aerospace and consumer products, will open its Initial Public Offer (IPO) on Wednesday, December 03, 2025, with the price band set at ₹118 to ₹124 per equity share.
The three-day bid window will close on Friday, December 05, 2025, while the Anchor Investor portion will open on Tuesday, December 02, 2025. Bids can be placed for a minimum of 120 equity shares and in multiples of 120 thereafter.
The IPO comprises a fresh issue of ₹670 crores and an Offer for Sale (OFS) of 2,03,07,393 equity shares. The equity shares are proposed for listing on both BSE and NSE, with NSE as the designated exchange. JM Financial Limited, IIFL Capital Services Limited, and Kotak Mahindra Capital Company Limited are the Book Running Lead Managers (BRLMs).
Strategic Timing for a Sector Positioned for Global Expansion
Aequs, a pioneer in integrated manufacturing for the aerospace industry, operates one of India’s only fully vertically integrated contract manufacturing ecosystems within a single SEZ—the Aequs SEZ in Belagavi.
“Our journey has always been about ecosystem-building,” said Aravind S. Melligeri, Executive Chairman & CEO of Aequs Limited, addressing the media in Ahmedabad. “This IPO positions us to expand capacity, deepen technological capabilities, and strengthen our role in India’s emergence as a global aerospace and consumer manufacturing hub.”
Aequs’ manufacturing presence spans India, France, and the United States, enabling it to serve world-class OEMs with supply chain efficiency and end-to-end product capabilities.
Strong Global Client Base Across Aerospace & Consumer Segments
Aequs supplies precision components and assemblies to major aerospace giants including:
Airbus
Boeing
Bombardier
Collins Aerospace
Spirit AeroSystems
Safran
GKN Aerospace
Honeywell
Eaton
Sabca
In the consumer segment, its portfolio includes clients such as Hasbro, Spinmaster, Wonderchef, and Tramontina, making Aequs one of the few Indian companies with dual competencies across high-precision aerospace manufacturing and large-scale consumer goods production.
“Our focus has always been consistent—reliability, scalability, and precision,” noted Mohamed Bouzidi, President – Aerospace of Aequs AAF. “We are proud of the trust placed in us by global OEMs, and this offering will accelerate our investments in next-generation manufacturing ecosystems.”
Brand Identity: Built on Collaboration and Efficiency
The Aequs identity reflects the brand’s core philosophy:
The parallel lines in the letter Q symbolize collaboration and disciplined execution.
The red and black line motif visually represents synergy and seamless processes.
The brand’s promise, “ecosystems of efficiency®”, captures its manufacturing ethos.
Aequs currently employs over 3,000 people across geographies and continues to invest in skill development and technology upgrades.
IPO Structure & Allocation Details
The IPO is being made in accordance with Rule 19(2)(b) of SCRR and Regulation 31 of SEBI ICDR Regulations under the Book Building Process. Key highlights:
QIB Portion: At least 75% of the net offer
NII Portion: Not more than 15%
Retail Portion: Not more than 10%
Up to 60% of QIB Portion can be allocated to Anchor Investors
All non-anchor bidders must apply through ASBA
“The structure ensures a balanced and compliant allocation framework that supports both institutional participation and broad-based investor access,” said Goshan Yadav of IIFL Capital Services Ltd, speaking on behalf of the BRLMs.
Aequs’ Multi-Sector Presence: A Rare Integrated Model
Aequs operates through a multi-locational, multi-sector ecosystem:
Aerospace Manufacturing
Aequs SEZ, Belagavi, Karnataka (India)
Paris, Texas (USA)
Cholet (France)
Toys & Plastics
Belagavi SEZ, Karnataka
Koppal, Karnataka
Consumer Durables & Electronics
Hubballi, Karnataka
“We have always believed that India can be a global manufacturing powerhouse,” said Rajeev Kaul, Managing Director of Aequs Limited. “This IPO will help us scale our integrated model, from aerospace machining to plastics, from consumer electronics to precision engineering.”
Financial Perspective and Strategic Road Ahead
Speaking on the company’s financial preparedness, Dinesh Iyer, CFO of Aequs, said:
“Our ecosystem-based model allows us to optimise processes, reduce turnaround times, and deliver unmatched supply chain advantages. The IPO proceeds will support expansion, working capital, and technological investments to meet rising global demand.”
Aequs Sets Its Course for the Next Phase of Global Growth
With strong global partnerships, a robust integrated manufacturing ecosystem, and strategic expansion plans, Aequs Limited’s IPO marks a significant milestone in India’s manufacturing future—especially as global supply chains seek reliable, scalable alternatives.
“The world is looking at India for high-quality, high-precision manufacturing,” Aravind Melligeri concluded. “Aequs stands ready to lead that transformation.”