Aequs IPO Soars with Overwhelming Investor Interest

Aequs Ltd, a firm specializing in consumer durable goods and aerospace parts, has garnered 101.63 times subscription for its IPO. The price band is set at Rs 118-124 per share, raising Rs 922 crore. The funds will be used for loan repayment, equipment purchase, strategic growth, and corporate needs.

Aequs Ltd's initial public offering (IPO) has been met with enormous investor enthusiasm, receiving subscriptions over 101 times the shares available. Investors showed strong demand on the closing day, with overall bids reaching a staggering 4.27 billion shares against the 4.2 million on offer, according to data from the National Stock Exchange (NSE).

The impressive figures break down into 120.92 times subscription by Qualified Institutional Buyers, 80.62 times by non-institutional investors, and 78.05 times by Retail Individual Investors. The IPO price band is set between Rs 118-124 per share, valuing the company at over Rs 8,300 crore. Funds from this IPO will support a variety of strategic initiatives, including loan repayment and purchasing machinery.

Aequs, backed by notable investors such as Amicus Capital and Steadview Capital, operates facilities in India, France, and the US, serving major clients like Airbus and Hasbro. Through its recent expansions, Aequs has diversified into consumer electronics, positioning itself firmly in both aerospace and consumer product sectors.

(With inputs from agencies.)