Author: Aditya Pareek | EQMint | General News
Aequs Limited, the aerospace manufacturing player with decades of experience in precision engineering, made its stock market debut on December 10, 2025. The company listed at ₹140 per share on both the BSE and the NSE, reflecting a 13% listing premium over its IPO issue price. Although the listing came in slightly below early grey market expectations, the performance remains encouraging considering the strong fundamentals and robust demand the company witnessed during its IPO.
This debut highlights growing investor confidence in India’s emerging aerospace manufacturing ecosystem, especially as the country strengthens its presence within global supply chains.
IPO Performance and Market Expectations
Aequs Limited completed its ₹921.81 crore public issue earlier this month, with the IPO open from December 3 to December 5. The offer was a combination of:
- Fresh issue: ₹670 crore worth of 5.40 crore shares
- Offer for Sale (OFS): 2.03 crore shares worth ₹251.81 crore
The IPO price band was set at ₹118–₹124, and the grey market premium leading up to the listing suggested a ₹34 premium, implying expected listing levels around ₹158. While the actual listing price of ₹140 fell slightly short of GMP projections, investor sentiment remains positive.
The IPO attracted overwhelming demand, clocking an overall subscription of 101.63 times, as per NSE data. Subscription across categories was as follows:
- Retail Investors: 78.05 times
- Non-Institutional Investors (NIIs): 80.62 times
- Qualified Institutional Buyers (QIBs): 120.92 times
The exceptional QIB participation demonstrates strong institutional confidence, especially from global and domestic funds betting on India’s aerospace growth trajectory.
JM Financial Ltd. served as the book-running lead manager, while Kfin Technologies Ltd. acted as the registrar to the issue.
Market Listing Summary
Trading commenced through the Special Pre-Open Session (SPOS) at 10:00 AM, as mandated by the exchanges. Aequs was listed under the ‘B’ Group of securities on BSE, opening at ₹140 per share — 13% above the IPO issue price.
Following the listing, volumes remained active as early investors booked profits, while others positioned for medium-term gains. The price remained relatively steady across the first trading hour, indicating buying support and healthy demand.
Why Investors are Optimistic about Aequs
Aequs Limited stands out as one of India’s most advanced aerospace precision manufacturing platforms. For years, India lacked depth in this high-tech sector, largely importing aerospace components. Aequs has played a key role in reversing that trend.
Key strengths that drive investor optimism include:
1. Fully Integrated Aerospace Manufacturing
Aequs operates across the entire value chain, including precision machining, forgings, treatments, and assemblies — reducing dependence on external suppliers.
2. Global Customer Base
The company supplies to several leading aerospace OEMs, strengthening India’s participation in global aviation manufacturing.
3. Rising Sector Tailwinds
As India expands defense and aerospace capabilities, domestic suppliers like Aequs find themselves at the center of multi-year demand cycles.
4. Execution Track Record
Aequs’ stable growth, operational scalability and demonstrated long-term client engagement lend credibility to its valuation.
How the Stock is Likely to Trade in the Short and Medium Term
While the listing premium was more modest than grey market expectations, market experts maintain a constructive outlook on the stock.
Short-term trading could see fluctuations as profit-booking occurs. However, medium-term prospects appear solid, given Aequs’ position in a strategic growth industry.
Trading Strategy: What Should Investors Do Now?
Investors have shown considerable confidence in the stock, but a disciplined approach is essential.
For Allottees
Those who received shares in the IPO are recommended to:
- Book partial profits at the current listing gains to lock in returns.
- Hold the remaining shares for the medium to long term, as the aerospace story continues to unfold.
For Traders
Short-term traders should:
- Maintain a stop-loss near ₹120 to manage near-term volatility.
- Look for breakout opportunities above key resistance levels if the momentum continues.
For Long-Term Investors
Aequs may be well-suited for investors with a horizon beyond 1–2 years, due to:
- Rising aerospace outsourcing to India
- High entry barriers in the sector
- Limited domestic competition
- Increasing demand from commercial aircraft manufacturers
Market Outlook: A Structural Growth Story
Aequs’ debut reinforces the fact that India’s precision engineering space is evolving rapidly. Just as sectors like electronics, defense, and EV components are gaining global traction, aerospace manufacturing is now positioned as a long-term structural growth opportunity for India.
Investors appear to be betting not only on Aequs itself, but also on India’s transformation from a buyer of aerospace components to an exporter.
Conclusion
Aequs shares opening 13% above the IPO price reflects strong underlying confidence, even if the listing premium fell slightly short of grey market expectations. The company’s fundamentals, integrated manufacturing expertise, strong investor participation and multi-year growth visibility make it one of the more compelling newly listed aerospace plays.
While disciplined profit booking is advisable, Aequs may emerge as a long-term value story in India’s evolving aerospace manufacturing ecosystem, provided execution remains consistent.
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Disclaimer: This article is based on information available from public sources. It has not been reported by EQMint journalists. EQMint has compiled and presented the content for informational purposes only and does not guarantee its accuracy or completeness. Readers are advised to verify details independently before relying on them.
