Aequs
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 10 Dec 2025 | ₹24 | +19.35% | ₹2,200 | ₹148 | ₹2,880 |
| 09 Dec 2025 | ₹31 | +25.00% | ₹2,800 | ₹155 | ₹3,720 |
| 08 Dec 2025 | ₹34 | +27.42% | ₹3,100 | ₹158 | ₹4,080 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 03 Dec 2025 – 05 Dec 2025
- Listing date
- 10 Dec 2025
- Face value
- ₹10 per share
- Issue price
- ₹124 per share
- Lot size
- 120 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹922 Cr
- Market cap at offer price
- ₹8,316 Cr
- Promoter holding
- 64.48% → 59.09% pre-issue → post-issue
- ISIN
- INE947N01017
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- JM Financial Ltd.
- Registered office
- Aequs Tower, No.55, Whitefield Main Road, Mahadevapura Post, Karnataka
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 3,33,80,262 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 120 shares per lot, in multiples, at ₹124
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 120 | ₹14,880 |
| Retail (max) | 13 | 1,560 | ₹1,93,440 |
| S-HNI (min) | 14 | 1,680 | ₹2,08,320 |
| S-HNI (max) | 67 | 8,040 | ₹9,96,960 |
| B-HNI (min) | 68 | 8,160 | ₹10,11,840 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹124 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | -1.66 | -0.51 |
| Price to book (×) | 9.94 | — |
| Market cap | — | ₹8,316 Cr |
No price-to-earnings multiple is shown: the company reported a loss, and an earnings multiple struck on negative earnings would read as a cheap valuation while meaning the opposite.
Key performance indicators
Latest reported period
- Return on net worth
- -14.47%
- ROCE
- 0.87%
- Debt / equity
- 0.99
- PAT margin
- -11.07%
- EBITDA margin
- 11.68%
- NAV per share
- ₹12.47
- Price to book
- 9.94
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.