Aequs Ltd’s ₹921.8 crore initial public offering (IPO) was fully subscribed hours after opening with a subscription of 1.65 times by 1.03 pm on its opening day Wednesday. The three-day public offer, priced in the range of ₹118-124 per share, will close on December 5.

Retail investors led the demand with their portion subscribed 6.64 times, while the non-institutional investor category saw 1.50 times subscription by early afternoon. The employee quota was subscribed 4.20 times. However, qualified institutional buyers showed minimal participation so far, with only 36,480 shares bid against the reserved portion of 2.26 crore shares.

Prior to the public offering, Aequs raised ₹413.92 crore from 33 anchor investors at the upper price band of ₹124 per share on Tuesday.

Aequs is India’s on

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