Updated on 18.03.2026|11:39 AM
Apsis Aerocom Limited is set to launch its Initial Public Offering (IPO) on the NSE SME platform on Wednesday, March 11, 2026.
It is a precision engineering company catering to the aerospace, defence, and healthcare industries. You can track all the upcoming and live IPOs at our IPO section which is updated regularly.
The company provides end-to-end manufacturing solutions, from CAD/CAM design to precision machining of critical components like radar systems and cockpit displays.
The IPO, a 100% book-built fresh issue, aims to raise approximately ₹35.77 Crores with a price band fixed at ₹104 to ₹110 per share. The issue will close on Friday, March 13, 2026.
In this article, you will find Apsis Aerocom IPO GMP today, subscription status, allotment date, price band, and a detailed review.
Briefs of Apsis Aerocom IPO Details:
- Price Band: ₹104 – ₹110 per equity share
- IPO Open / Close Dates: March 11, 2026 – March 13, 2026
- Lot Size: 1,200 Shares (Note: Retail Minimum Application is 2 Lots / 2,400 Shares)
- Issue Size: 32,52,000 Equity Shares / ~₹35.77 Crores
- Fresh Issue / OFS: 100% Fresh Issue
- Registrar: Integrated Registry Management Services Pvt. Ltd.
- Listing Exchange: NSE SME
What Is the Apsis Aerocom IPO GMP Today?
You can check the GMP of this and other issues at our GMP hub page.
Note: The Grey Market Premium (GMP) changes daily and is not regularised by SEBI, NSE, or BSE. Investors should not rely solely on GMP for investment decisions.
Listing Updates:
| Type | Issue Price | Open | Gain/loss % |
| Lisiting | 110.00 | 153.00 | 39.09 |
What Are The Important Apsis Aerocom IPO Dates & Allotment Schedule?
For investors planning their capital allocation, here is the critical timeline for the issue:
- IPO Open Date: Wednesday, March 11, 2026
- IPO Close Date: Friday, March 13, 2026
- Basis of Allotment Date: Monday, March 16, 2026
- Refund Initiation Date: Tuesday, March 17, 2026
- Credit of Shares: Tuesday, March 17, 2026
- Listing Date: Wednesday, March 18, 2026
What Are The Objectives of Apsis Aerocom IPO?
The company proposes to utilise the Net Proceeds from the Fresh Issue towards the following strategic purposes:
- Capital Expenditure: A significant portion of ₹27.02 Crores is earmarked for the purchase of 17 advanced machines (including 5-axis CNCs) for its new "Manufacturing Unit-II" in Bengaluru, aiming to increase capacity to 3,00,000 components annually.
- General Corporate Purposes: The remaining balance will be used to fund ongoing corporate needs and business growth initiatives.
How is The Financial Performance of Apsis Aerocom?
The following table summarises the company's financial performance based on restated financial statements.
(Figures in ₹ Crores)
Particulars | FY 2024-25 | FY 2023-24 | FY 2022-23 |
Total Income | 20.57 | 16.88 | 10.41 |
Profit After Tax (PAT) | 6.64 | 2.55 | 1.03 |
EBITDA | 10.20 | 4.10 | 1.93 |
Total Borrowing | 2.84 | 1.32 | 2.07 |
Assets | 18.58 | 11.93 | 7.22 |
Source: RHP
Financial Analysis & Observations:
Total Income:
The company has demonstrated robust growth, with Total Income doubling from ₹10.41 Crores in FY23 to ₹20.57 Crores in FY25. This surge is driven by higher demand for complex components in the aerospace and defence sectors.
Profit After Tax (PAT):
Profitability has seen an exceptional rise, with PAT growing over six-fold from ₹1.03 Crores in FY23 to ₹6.64 Crores in FY25. The PAT margin expansion to over 32% underscores a successful shift towards high-margin component portfolios.
EBITDA:
Operational efficiency is a major strength, with EBITDA leaping to ₹10.20 Crores in FY25, reflecting a staggering margin of nearly 50%. This improvement is directly linked to the transition from outsourced job-work to in-house manufacturing.
Total Borrowing:
The company operates with a relatively low debt profile, with total borrowings standing at just ₹2.84 Crores in FY25. These funds are primarily used to support machinery acquisitions and working capital.
Assets:
Total assets have grown consistently to ₹18.58 Crores in FY25, fueled by continuous investments in advanced CNC machinery and software necessary to meet the stringent requirements of the aerospace industry.
What Are the P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹7.54, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 14.58x at the upper end of the price band (₹110).
P/E Ratio = ₹110(Price) / ₹7.54(Earnings Per Share)
P/E Ratio ≈ 14.58x
Peer Comparison Table (FY 2024-25 Data):
Company | P/E Ratio | RoNW (%) | EPS (₹) |
Apsis Aerocom | 14.58 | 62.82 | 7.54 |
Unimech Aerospace | 264.70 | 3.65 | 4.02 |
Analysis:
Apsis Aerocom is entering the market at a P/E multiple of approximately 14.58x. When compared to its listed peer, Unimech Aerospace, which trades at a dizzying P/E of 264.70x, the issue appears to be priced at a massive discount.
Furthermore, Apsis has a Return on Net Worth (RoNW) of 62.82%, compared to Unimech's 3.65%, indicating exceptional capital efficiency and suggesting significant value left on the table for investors.
What Are the Industry Outlook of Apsis Aerocom Limited ?
Growth Potential:
The Indian aerospace and defence manufacturing sector is experiencing structural tailwinds driven by the government's 'Make in India' and defence indigenization policies.
Market Trends:
There is a growing global reliance on Indian manufacturers for precision engineering components due to a skilled workforce and cost advantages. Companies with aerospace certifications like AS9100D are prime beneficiaries of this shift.
What Are The Strengths and Risks of Apsis Aerocom IPO?
Strengths:
- High Profitability: The company has delivered stellar return ratios (RoE >90% and RoCE >65% in FY25) and industry-leading EBITDA margins.
- Niche Markets: Manufacturing critical parts for radar systems and medical scanners insulates the company from lower-margin commoditised manufacturing.
- Clear Expansion Plan: The IPO proceeds are strategically targeted at funding a new manufacturing unit to significantly increase capacity.
Risks:
- Customer Concentration: The top 5 customers accounted for an alarming 94.60% of revenue in FY25. The loss of a single major client would be devastating.
- Asset Hypothecation: Core operational machinery is hypothecated to lenders, posing a risk of seizure in case of debt default.
- Promoter Acquisition Cost: The promoters' average cost of acquisition is extremely low at just ₹1.11 per share, which investors should note relative to the IPO price.
Key Considerations for Investors
This section is neutral and for informational purposes only.
Investors should note the Minimum Investment structure.
- Minimum Application: The lot size is 1,200 Shares. Based on the data provided, the minimum application for Retail Individual Investors is 2 Lots (2,400 Shares), amounting to ₹2,64,000. Note: This investment amount exceeds the typical ₹2 Lakh retail limit, which implies this category effectively targets HNI investors.
- Valuation: At ~14.6x P/E, the pricing is highly attractive compared to the premium valuations assigned to the aerospace/defence sector.
- Risk Profile: While the financial growth is spectacular, the extreme customer concentration requires a high risk appetite.
Key Takeaways
- IPO Price: ₹110 per share (Upper Band).
- Min Investment: ₹2,64,000 (2,400 Shares).
- Valuation: P/E of ~14.58x
- Allotment: March 16, 2026
- Listing: NSE SME platform on March 18, 2026.
FAQs on Apsis Aerocom IPO
What is Apsis Aerocom IPO GMP today?
The GMP is a dynamic market sentiment indicator. Please check trusted financial news portals or our dedicated GMP section for the latest updates.
What is Apsis Aerocom IPO price band?
The price band is fixed at ₹104 to ₹110 per equity share.
What is Apsis Aerocom IPO allotment date?
The allotment status is expected to be finalized on Monday, March 16, 2026.
How to check Apsis Aerocom IPO allotment status?
Investors can check the status on the website of Integrated Registry Management Services Pvt. Ltd. (the Registrar) or via the NSE IPO allotment portal.
What is Apsis Aerocom IPO listing date?
The shares are tentatively scheduled to list on Wednesday, March 18, 2026.
Investment Perspective on Apsis Aerocom IPO
Apsis Aerocom offers a compelling financial profile with exceptional margins and return ratios in the high-growth aerospace and defence sector. While the valuation is highly attractive relative to its peer, the steep minimum investment ticket size and severe customer concentration are significant risks that must be carefully evaluated.
Disclaimer: This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
