Aequs IPO Day 2 LIVE: The initial public offering (IPO) of Aequs Ltd, a contract manufacturing company focused on consumer durable goods and aerospace components, was quickly oversubscribed within hours of the bidding opening on Wednesday, ending the day with a subscription rate of 3.42 times.
Aequs IPO GMP today is ₹45.5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Aequs is indicated at ₹169.5 apiece, which is 36.69% higher than the IPO price of ₹124.
This initial share offering is set to close on December 5. Aequs IPO price band has been set at ₹118-124 per share, giving the company a valuation exceeding ₹8,300 crore.
The Aequs IPO comprises a fresh issue of shares amounting to ₹670 crore, in addition to an offer for sale (OFS) of 2.03 crore shares valued at ₹252 crore by its promoters and existing investors, bringing the total issue size to ₹922 crore.
While Aequs mainly functions within the aerospace sector, it has broadened its offerings over time to include consumer electronics, plastics, and consumer durables.
The company enjoys backing from notable investors, including Amicus Capital, Amansa Capital, Steadview Capital, Catamaran — the family office of Infosys founder N R Narayana Murthy — and Sparta Group.
(Stay tuned for more updates)
