India, Dec. 3 -- Contract manufacturing company Aequs initial public offerings (IPO) opened on a good note today, getting oversubscribed within hours of opening. As of 13:15 IST, the issue received bids for 7.32 Cr shares against the 4.20 Cr shares available for subscription. This translates to a 1.72X oversubscription.

Retail investors led from the front, oversubscribing their quota 7.2X, bidding for 5.54 Cr shares against the 76.92 Lakh earmarked for them.

Non-institutional investors (NIIs) also oversubscribed their portion by 1.63X, bidding for 1.88 Cr shares against 1.15 Cr shares reserved for them. Meanwhile, the company's employees have also placed bids for 8.21 Lakh shares, oversubscribing their portion by 4.42X.

As is common wi...