Apsis Aerocom Ltd IPO
Aerospace & Defence
Price Band
₹104 – ₹110
Lot Size
1200
Minimum Bid Quantity
2400
Minimum Investment
₹264000
Issue Size
₹35.77Cr
Opens
2026-03-11
Closes
2026-03-13
Listing
18-03-2026
Subscription Status
Qualified Institutional Buyers
99.96 x
Non-Institutional Investor
174.32 x
Retail Individual Investor
96.86 x
Total
118.58 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE1OOJ01011
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Apsis Aerocom Limited operates in the field of precision engineering, primarily engaged in the manufacture of components and provision of allied engineering services for the aerospace, defence and healthcare industries. The company focuses on precision machining and engineering solutions, offering services that range from design support and process planning to machining, surface finishing, quality inspection, and final product delivery. Its manufacturing processes emphasise dimensional accuracy and adherence to stringent quality standards. The company maintains quality management systems aligned with internationally recognised standards, including AS9100D and ISO 9001:2015, which are commonly adopted in the aerospace and precision engineering sectors. Its products generally consist of machined components manufactured based on customer-supplied designs and technical specifications, supporting complex systems used in aerospace, defence, and healthcare applications. The company operates a manufacturing facility at Peenya Industrial Area, Bengaluru, Karnataka, equipped with CNC machines capable of machining components up to 1,200 mm in length. The facility supports CAD/CAM-based design, process development, and precision machining activities. Within India, the company has established business relationships with customers primarily in Karnataka, Telangana, and Maharashtra. Internationally, it has served customers in markets such as the United States, the Netherlands, Spain, and Israel. The company also periodically evaluates opportunities to expand production capacity and strengthen supply chain capabilities in response to evolving demand from domestic and international aerospace and defence clients.
Pros
- • The company claims to operate a manufacturing facility equipped with advanced machining capabilities, including multi-axis CNC machines ranging from 3-axis to 5-axis configurations. These systems enable machining of complex geometries with high dimensional accuracy while reducing setup time and cycle duration. The facility also includes Swiss-type lathes designed for the production of miniature and high-precision components with tight tolerances. In addition, the company utilises additive manufacturing technologies for prototyping and development of metal and polymer parts. They enable the company to handle complex engineering requirements while maintaining consistency and repeatability in production.
- • The company claims to have developed experience in manufacturing complex machined components for industries such as aerospace, defence, and healthcare. These components often require intricate geometries, tight tolerances, and specialised surface finishing standards. The company’s machining capabilities support the processing of multiple materials, including titanium, stainless steel, high-temperature alloys such as Inconel, and engineering polymers. This experience allows the company to handle technically demanding projects and maintain the quality standards required by industries that rely on precision-engineered parts.
- • The company is recognised as an approved supplier to certain Tier-1 aerospace companies. This reflects compliance with aerospace quality management standards such as AS9100D and adherence to industry-specific audit and qualification requirements. Supplier approvals typically require demonstrated capabilities in quality assurance, production control, and delivery performance. Such approvals may provide opportunities for participation in long-term supply chains and collaborations with aerospace OEMs and system integrators.
Cons
- • The company, its promoters, and directors are currently involved in tax proceedings. Any adverse judgment in any of these cases can harm the company's operations.
- • A significant portion of the company’s revenue is derived from a relatively small number of customers, resulting in customer concentration risk. During FY25, FY24, and FY23, the company’s top five customers contributed Rs 19.38 crore (94.60%), Rs 16.48 crore (97.68%), and Rs 9.77 crore (94.22%) of total revenue from operations, respectively. Similarly, the top 10 customers contributed Rs 20.29 lakhs (99.00%) in FY25, Rs 16.81 crore (99.65%) in FY24, and Rs 10.32 crore (99.53%) in FY23. The loss of any of these key customers, reduction in order volumes, or changes in their procurement strategies may adversely affect the company’s revenue, profitability, and overall financial performance.
- • The company’s manufacturing operations rely on the availability of aerospace-grade metals and alloys such as aluminium, steel, copper, and other specialised materials used in precision engineering applications. The pricing and availability of these raw materials are influenced by global commodity markets, geopolitical developments, currency fluctuations, and regulatory changes in import or export duties. As the company procures such materials through purchase orders without long-term fixed-price agreements, it remains exposed to fluctuations in input costs and potential supply disruptions, which could affect production schedules and cost structures.
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