All three ongoing mainboard initial public offerings (IPOs)—Aequs, Meesho, and Vidya Wires—are experiencing strong investor interest as they approach their closing today.
These offerings were fully subscribed on the very first day, establishing a positive tone from the outset. This momentum continued into the second day, with consistent inflows observed across various investor categories, particularly among retail and non-institutional investors. As the bidding nears its conclusion today, interest remains strong, although demand from qualified institutional buyers (QIBs) varies across the offerings.
Market sentiment indicates healthy expectations for listing, but the final subscription figures at the end of today will significantly influence valuation comfort and debut performance.
Aequs IPO
The Aequs IPO has been subscribed 22.12 times, signaling strong demand for the precision manufacturing and aerospace components company. As of 12:06 PM, QIBs had subscribed 2.09 times, non-institutional investors (NIIs) 42.18 times, retail investors 50.95 times, and employees 22.21 times.
The contract manufacturing firm launched its ₹922-crore IPO on December 3, 2025, with a price range of ₹118-122 per share. The offering includes a fresh issue of shares valued at ₹670 crore and an offer for sale (OFS) of 2.03 crore shares worth ₹252 crore from promoters and existing investors. Prior to the IPO, Aequs secured ₹414 crore from anchor investors. The IPO is designed to fund capacity enhancements and working capital needs.
Meesho IPO
The highly anticipated Meesho IPO was subscribed 15.03 times by 12:06 PM, reflecting strong market confidence in the e-commerce platform. Subscription breakdown showed QIBs at 12.16 times, NIIs at 21.88 times, and retail investors at 13.22 times.
With a total size of ₹5,421 crore, the IPO includes a fresh issue of shares worth ₹4,250 crore and an OFS of 10.55 crore shares valued at ₹1,171 crore at the upper price band of ₹111. The company aims to utilize the funds for cloud infrastructure investment, marketing initiatives, and strategic acquisitions, among other purposes. Ahead of the IPO, Meesho raised ₹2,439.54 crore from anchor investors. Market observers anticipate a strong debut based on brand visibility and growth metrics, although profitability challenges in the value e-commerce segment may impact post-listing sustainability.
Vidya Wires IPO
The IPO for Vidya Wires, which specializes in winding and conductivity products, also witnessed robust demand, achieving an overall subscription of 14.70 times by 12:06 PM.
QIB interest reached 1.36 times, indicating moderate institutional participation, while demand from non-institutional investors surged to 24.20 times. Retail participation was strong as well, with subscriptions of 18.18 times.
The ₹300-crore IPO features a fresh issue of shares valued at ₹274 crore and an OFS of 50.01 lakh shares worth ₹26 crore, at a price range of ₹48-52 per share. The company secured ₹90 crore from anchor investors. The raised funds will finance capital expenditure for new projects at its subsidiary ALCU, debt payments, and general corporate needs.
With all three IPOs displaying solid mid-day subscription rates, the closing hours will play a crucial role in shaping final sentiment and setting market debut expectations. These stocks are expected to debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 10, 2025.
Published on December 5, 2025.
