India, Dec. 10 -- Contract manufacturing company Aequs made a strong debut on the bourses, with its shares getting listed at INR 140 apiece on the BSE and the NSE, a premium of 12.9% to the issue price of INR 124.

The public offering comprised a fresh issue of shares worth up to INR 670 Cr and an offer for sale (OFS) of up to 2.03 Cr shares. The company had set a price band of INR 118 to INR 124 for it.

Aequs' IPO closed with an oversubscription of 101.63X, receiving bids for 427.1 Cr shares against 4.20 Cr shares available for subscription.

Founded in 2006 by Aravind Melligeri, Aequs is a diversified contract manufacturer that caters to clients in aerospace, toys, and consumer durables sectors. The company carries production of over 5...