India’s aerospace and defence manufacturing sector has witnessed significant growth in recent years due to increasing domestic production, government initiatives supporting defence manufacturing and rising demand for precision engineering components. The government’s focus on self reliance in defence manufacturing under initiatives such as Make in India has opened opportunities for companies involved in advanced engineering and component manufacturing.
Precision engineering companies supplying to aerospace, defence and healthcare industries are gaining importance as these sectors require highly accurate, high quality and technologically advanced components. With increasing demand for locally manufactured components and global supply chain diversification, Indian engineering companies are expanding their presence in international markets.
Against this backdrop, Apsis Aerocom Limited is set to open its IPO on March 11, 2026. Here is a detailed insight into Apsis Aerocom Limited, its IPO, and the industry outlook.
About Apsis Aerocom Ltd.
Incorporated in 2022, APSIS Aerocom Limited operates in the precision engineering sector, focusing on the manufacture of specialised components for aerospace, defence and healthcare industries.
The company operates a manufacturing facility located in Peenya Industrial Area, Bangalore, which is divided into two operational sheds. The facility is equipped with advanced CNC machining capabilities capable of producing components up to 1,200 mm in length.
Apsis Aerocom provides end to end manufacturing capabilities including:
• CAD CAM based design support
• Process development
• Precision machining
• Surface finishing
• Assembly and quality control
• Final inspection
The company manufactures components used in complex systems across aerospace, defence and healthcare sectors.
Apsis Aerocom has developed a domestic presence across Karnataka, Telangana and Maharashtra while also exporting to international markets including:
• United States
• Netherlands
• Spain
• Israel
As of September 30, 2025, the company employs 105 personnel including promoters and supports both domestic and international customers.
Competitive Strengths
• Specialised precision engineering capabilities for high value sectors
• Advanced CNC based manufacturing infrastructure
• End to end production capabilities from design to delivery
• Presence in domestic and international markets
• Experienced management team with industry expertise
Apsis Aerocom Ltd. IPO Details
Apsis Aerocom IPO is a book building issue of ₹35.77 crore.
The issue consists entirely of a fresh issue of 32,52,000 shares.
The IPO price band is ₹104 to ₹110 per share and the issue price is ₹110 per share.
The IPO is managed by Oneview Corporate Advisors Pvt. Ltd. as the book running lead manager while Integrated Registry Management Services Pvt. Ltd. is the registrar to the issue.
The market maker for the issue is Basan Equity Broking Ltd.
Important IPO Timeline
| Event | Date |
|---|---|
| IPO Open Date | March 11, 2026 |
| IPO Close Date | March 13, 2026 |
| Allotment Date (Tentative) | March 16, 2026 |
| Initiation of Refunds | March 17, 2026 |
| Credit of Shares to Demat | March 17, 2026 |
| Listing Date (Tentative) | March 18, 2026 |
| Cut off time for UPI mandate confirmation | 5 PM on March 13, 2026 |
Key IPO Details
| Particular | Details |
|---|---|
| Face Value | ₹10 per share |
| Price Band | ₹104 to ₹110 per share |
| Issue Price | ₹110 per share |
| Lot Size | 1,200 Shares |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 32,52,000 shares (₹35.77 Cr) |
| Fresh Issue | 32,52,000 shares |
| Market Maker Portion | 1,65,600 shares |
| Net Offer to Public | 30,86,400 shares |
| Market Cap (Pre IPO) | ₹132.57 Cr |
| Shareholding Pre Issue | 87,99,921 shares |
| Shareholding Post Issue | 1,20,51,921 shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares | 1,65,600 (5.09%) |
| QIB Shares Offered | 15,39,600 (47.34%) |
| Anchor Investor Portion | 9,15,600 (28.15%) |
| QIB (Ex Anchor) | 6,24,000 (19.19%) |
| NII Shares Offered | 4,64,400 (14.28%) |
| Retail Shares Offered | 10,82,400 (33.28%) |
| Total Shares Offered | 32,52,000 |
Lot Size of Apsis Aerocom Ltd. IPO
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,64,000 |
| Retail (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 |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereafter.
Apsis Aerocom Ltd. Financials
The Apsis Aerocom IPO has a pre issue market capitalisation of ₹132.57 crore. The company has demonstrated strong growth in profitability over the reported periods.
Key Company Financials (₹ Crore)
| 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 and Surplus | 4.89 | 9.59 | 2.95 | 0.40 |
| Total Borrowing | 2.33 | 2.84 | 1.32 | 2.07 |
IPO Objects of the Issue
The company proposes to utilise the net proceeds from the issue towards the following objectives:
| # | Issue Objects | Estimated Amount (₹ Cr) |
|---|---|---|
| 1 | Funding capital expenditure for purchase of machinery | 27.02 |
| 2 | General corporate purposes | — |
Key Performance Indicators (KPI)
| KPI | Sep 30, 2025 | Mar 31, 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 |
Promoters of the Company
The promoters of Apsis Aerocom Limited are:
• Basavaraju Kanakatte Shivakumar
• Vinod Kumar Mariyappan
• Mihir Kumar Pradhan
Apsis Aerocom Ltd.: Industry Outlook
• Increasing demand for precision engineering components in aerospace and defence sectors.
• Government initiatives promoting domestic defence manufacturing.
• Rising demand for high precision components in healthcare equipment manufacturing.
• Growing global outsourcing of engineering manufacturing to India.
• Expanding aerospace supply chain creating opportunities for specialised component manufacturers.
Conclusion
Apsis Aerocom Limited operates in the precision engineering segment supplying components to aerospace, defence and healthcare industries. The company has developed advanced machining capabilities and established both domestic and international market presence.
While the company has shown strong profitability growth in recent years, investors should consider industry competition, sustainability of earnings and valuation factors before making investment decisions.
