Aequs Shares Soar After Successful IPO Launch

Shares of Aequs, a manufacturing firm, surged with a 13% premium upon listing. The IPO raised Rs 922 crore, well-received with 101.63 times oversubscription. Funds will aid debt repayment, equipment purchases, and growth. Aequs specializes in aerospace and consumer goods, backed by notable investors.

Shares of contract manufacturing giant Aequs made an impressive debut, listing at a 13% premium over the issue price of Rs 124 on Wednesday.

Initially trading at Rs 140 on both the BSE and NSE, stocks further climbed to nearly 22%, reaching Rs 151, boosting the company's market value to Rs 9,989.56 crore on the BSE.

The Rs 922-crore IPO saw overwhelming demand, subscribed 101.63 times by closing. Raised funds aim for loan repayments, equipment acquisition, and future growth. Aequs, primarily in aerospace, also produces consumer goods.