Apsis Aerocom IPO is a book build SME issue of Rs. 35.77 crore, comprising a fresh issue of 32,52,000 equity shares aggregating to approximately Rs. 35.77 crore.
The IPO opens on March 11, 2026, and closes on March 13, 2026. The allotment is expected on March 16, 2026, and the listing is tentatively scheduled for March 18, 2026 on NSE SME.
The IPO is offered at a price band of Rs. 104 – Rs. 110 per share, and the lot size is 1,200 shares. The minimum investment for retail investors is Rs. 2,64,000 (2,400 shares) (based on upper price), and for HNI investors, Rs. 3,96,000 (3,600 shares).
Lead Manager: Oneview Corporate Advisors Pvt. Ltd.
Registrar: Integrated Registry Management Services Pvt. Ltd.
Market Maker: Basan Equity Broking Ltd.
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IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | March 11, 2026 |
| IPO Close Date | March 13, 2026 |
| Allotment Date | March 16, 2026 |
| Refunds Initiation | March 17, 2026 |
| Credit to Demat | March 17, 2026 |
| Listing Date | March 18, 2026 |
IPO Details
| Particulars | Details |
|---|---|
| Face Value | Rs. 10 per share |
| Issue Price | Rs. 104 – Rs. 110 |
| Lot Size | 1,200 shares |
| Sale Type | Fresh Issue Only |
| Total Issue Size | 32,52,000 shares (Rs. 35.77 Cr) |
| Market Maker Portion | 1,65,600 shares (Rs. 2 Cr) – Basan Equity Broking Ltd. |
| Net Offer to Public | 30,86,400 shares (Rs. 34 Cr) |
| Issue Type | Book Building Issue |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 87,99,921 shares |
| Shareholding Post-Issue | 1,20,51,921 shares |
| Market Cap (Pre-IPO) | Rs. 132.57 Cr |
Reservation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| QIB | 15,39,600 | 47.34% |
| Anchor Investors | 9,15,600 | 28.15% |
| QIB (Ex-Anchor) | 6,24,000 | 19.19% |
| NII (HNI) | 4,64,400 | 14.28% |
| bNII (> Rs.10L) | 3,09,600 | 9.52% |
| sNII (< Rs.10L) | 1,54,800 | 4.76% |
| Retail Individual Investors | 10,82,400 | 33.28% |
| Market Maker | 1,65,600 | 5.09% |
| Total | 32,52,000 | 100.00% |
Application Details
| Application | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min / Max) | 2 | 2,400 | 2,64,000 |
| S-HNI (Min) | 3 | 3,600 | 3,96,000 |
| S-HNI (Max) | 7 | 8,400 | 9,24,000 |
| B-HNI (Min) | 8 | 9,600 | 10,56,000 |
Promoter Holding
| Particulars | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 100% |
| Promoter Holding Post-Issue | 73.02% |
Promoters: Basavaraju Kanakatte Shivakumar, Vinod Kumar Mariyappan, and Mihir Kumar Pradhan.
About Apsis Aerocom Ltd.
Incorporated in 2022, APSIS Aerocom Limited is engaged in precision engineering and specialises in the manufacture of components and related services for aerospace, defence and healthcare industries.
The company operates a manufacturing facility located in the Peenya Industrial Area of Bengaluru, Karnataka. The facility is divided into Shed 1 and Shed 2 and is equipped with CNC machining systems capable of processing parts up to 1,200 mm in length.
APSIS Aerocom provides integrated solutions including CAD/CAM design support, process development, precision machining, surface finishing, assembly, inspection and quality assurance. These capabilities allow the company to deliver components as per customer-supplied designs and stringent industry specifications.
The company caters to complex engineering applications in aerospace, defence and healthcare sectors. It has built a presence across multiple Indian states including Karnataka, Telangana and Maharashtra while also exporting to international markets such as the USA, Netherlands, Spain and Israel.
As of September 30, 2025, the company had a workforce of 105 employees and offers end-to-end manufacturing services from design interpretation to final product delivery for domestic as well as global clients.
Company Financials (Rs. crore – Restated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 23.56 | 18.46 | 11.93 | 7.22 |
| Total Income | 13.70 | 20.57 | 16.88 | 10.41 |
| Profit After Tax | 3.12 | 6.64 | 2.55 | 1.03 |
| EBITDA | 4.78 | 10.20 | 4.10 | 1.93 |
| Net Worth | 13.69 | 10.57 | 3.93 | 1.37 |
| Reserves & Surplus | 4.89 | 9.59 | 2.95 | 0.40 |
| Total Borrowings | 2.33 | 2.84 | 1.32 | 2.07 |
Objects of the Issue (Rs. crore)
| S.No. | Objects of the Issue | Amount |
|---|---|---|
| 1 | Funding Capital Expenditure towards purchase of Machinery | 27.02 |
| 2 | General Corporate Purposes | Balance |
Key Performance Indicators
| KPI | 30 Sep 2025 | 31 Mar 2025 |
|---|---|---|
| ROE | 25.75% | 91.60% |
| ROCE | 25.62% | 65.76% |
| RoNW | 22.81% | 62.82% |
| PAT Margin | 22.88% | 32.39% |
| EBITDA Margin | 34.99% | 49.80% |
| Price to Book Value | 7.07 | 9.16 |
IPO Valuation Metrics
| Particulars | Pre IPO | Post IPO |
|---|---|---|
| EPS (Rs.) | 7.54 | 5.51 |
| P/E (x) | 14.58 | 19.97 |
| Market Cap (Rs. Cr.) | 132.57 | – |
Company Contact
| Particulars | Details |
|---|---|
| Company Name | Apsis Aerocom Ltd. |
| Address | Plot No.392/1, 10th Cross Road, IV Phase Peenya Industrial Area, Bengaluru, Karnataka – 560058 |
| Phone | +91 8049932834 |
| cs@apsisaerocom.com |
IPO Lead Manager(s)
| Particulars | Details |
|---|---|
| Lead Manager | Oneview Corporate Advisors Pvt. Ltd. |
IPO Registrar
| Particulars | Details |
|---|---|
| Registrar | Integrated Registry Management Services Pvt. Ltd. |
| Phone | 044 – 28140801 to 28140803 |
| ipo@integratedindia.in | |
| Website | Visit Website |
Chanakya IPO Review – by Paresh Gordhandas, CA & Research Analyst
| Particulars | Details |
|---|---|
| Analyst View | Apsis Aerocom operates in the high-precision engineering segment catering to aerospace, defence and healthcare industries. These sectors have strong long-term demand drivers, particularly due to increasing defence manufacturing and aerospace outsourcing in India. However, the company is relatively young and operates in a highly specialised industry requiring strict quality and certification standards. Investors should closely monitor customer concentration, capacity utilisation and margin sustainability. |
| Chanakya View | APPLY WITH CAUTION – suitable for investors comfortable with SME liquidity risk and early-stage precision manufacturing companies. |
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