Aequs IPO Soars: A 22% Surge in Aerospace and Consumer Durables Market

Shares of Aequs, a firm in contract manufacturing for consumer durables and aerospace, surged by 22.18% on debut. The IPO, valued at Rs 922 crore, was oversubscribed 101.63 times. Proceeds are aimed at repaying debt, acquiring equipment, and pursuing strategic growth. Aequs's diverse client roster highlights its industry impact.

Aequs, a contract manufacturing firm specializing in consumer durable goods and aerospace parts, witnessed a remarkable debut in the stock market, with shares closing at a 22.18% premium against the issue price of Rs 124.

The company's stock opened at Rs 140 per share on both the BSE and NSE, marking a significant 12.90% gain. Throughout the day, the company's share price surged to a high of Rs 157, eventually closing at Rs 151.50 on the BSE, and Rs 150 on the NSE.

The company's IPO, amounting to Rs 922 crore, was heavily oversubscribed, attracting 101.63 times the offered shares. The proceeds are earmarked for loan repayments, machinery purchases, and strategic expansion initiatives. Aequs boasts a diverse client base in the aerospace and consumer products sectors, with operations spanning India, France, and the US.

(With inputs from agencies.)