Aequs IPO: Co raises Rs 414 cr from 33 anchor investors including Mukul Agrawal-backed Sanshi

Precision engineering company Aequs Limited on Tuesday raised Rs 414 crore from 33 anchor investors ahead of its initial public offering (IPO), which opens for bids on Wednesday, December 3. The company has allotted nearly 3.34 crore shares at the highest price band of Rs 124 per share to major investors including Blackrock and Mukul Agrawal-backed Sanshi.While Blackrock Global Funds-India Fund was allotted 4.83% shares of the anchor quota, Sanshi Fund-I was allocated 1.21% shares.

Of the 3.34 crore shares, 1.89 crore shares, accounting for 56.70% of the total allocation to the anchor investors, were allotted to 10 domestic mutual funds, which registered through a total of 18 schemes.The other major investors include SBI MF, HDFC MF, ICICI MF, Axis MF, Motilal Oswal MF, Bank of India MF, Steadview Capital, Citigroup and Societe Generale.

Aequs IPO GMP today

As of December 1, 2025, the gray market premium for Aequs’ IPO has increased to Rs 46.5, reflecting a 37% premium over the highest issue price of Rs 124 and up from a premium of around 20% earlier. Based on the current GMP, the share price is estimated at around Rs 170 per share.

Company profile

Aequs is a precision engineering and manufacturing company with a strong presence in aerospace components, consumer durable parts and vertically integrated manufacturing solutions. Its ecosystem-driven operations and long-standing relationships with global OEMs give it a niche position in high-tolerance manufacturing.

However, on the financial front, Aequs reported a widening net loss of Rs 102 crore in FY25, compared to Rs 14.24 crore in the previous fiscal. Total income also fell 3% to Rs 959 crore from Rs 988 crore in FY24.

Aequs IPO: important dates

The Aequs IPO will open for subscription on December 3, 2025 and will remain available to investors until December 5, 2025. Following the conclusion of the bidding process, the company is expected to complete the share allocation on December 8, 2025. Subject to regulatory approvals and completion of procedures, Aequs is likely to make its market debut on the BSE and NSE on December 10, 2025.

Robust pre-IPO interest

Ahead of the IPO, Aequs raised Rs 144 crore through a pre-IPO placement at Rs 123.97 per share. The round saw participation from major institutional investors including SBI Mutual Fund (Optimal Equity and Emergent India Funds), DSP India Fund and Think India Opportunities Master Fund. The early institutional traction indicates continued demand for this issue.

Issue managers

The IPO will be jointly managed by JM Financial, IIFL Capital and Kotak Mahindra Capital, while KFin Technologies will act as registrar.

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