Aequs shares made a impressive debut on the Indian stock market on Wednesday, December 10, listing at a 13% premium over the initial public offering (IPO) price of ₹124. The shares opened at ₹140 on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), resulting in a 13% listing gain for IPO allottees.
The strong demand during the three-day subscription period, which took place from December 3 to December 5, led to a bumper listing. The grey market premium was +24, indicating a positive sentiment towards the company. According to Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., the positive listing reflects the company's strong positioning in the aerospace sector and the optimism surrounding its growth prospects.
The Aequs IPO raised ₹921.81 crore, consisting of a fresh issue of ₹670 crore and an offer for sale of ₹251.81 crore. The issue saw strong investor interest, with subscription levels reaching 122.93 times in the QIB segment, 83.61 times among non-institutional investors, and 81.03 times in the retail category. This robust demand signals confidence in Aequs' long-term growth prospects, despite short-term financial pressures.
Aequs operates a fully integrated aerospace precision manufacturing ecosystem in Karnataka, providing structural parts, engine components, landing gear systems, interiors, and cargo modules for major global aircraft programs, including the Airbus A320 and A350 series and Boeing's B737 and B787 platforms. The company also supplies products to clients in consumer electronics, plastics, and consumer durables.
JM Financial Ltd. is the book running lead manager, and Kfin Technologies Ltd. is the Aequs IPO registrar. With its strong debut, Aequs is poised to make a significant impact in the Indian stock market, particularly in the aerospace sector and manufacturing-led growth opportunities.
Please note that this article is for educational purposes only, and it is recommended to consult with an investment advisor before making any investment decisions.
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