Apsis Aerocom Ltd

Apsis Aerocom Ltd IPO

Apsis Aerocom Ltd

₹2,49,600 /2400 sharesMinimum investment

IPO listing details

Listed on
18 Mar '26
Issue price
₹110.00
Listing price
₹153.00
Listing gains
₹43.00 (39.09%)
Exchange
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IPO details

Minimum investment
₹2,49,600
Price range
₹104 - ₹110
Lot size
1,200
Issue size
35.77 Cr
Face value
10
IPO document

Subscription rate

Qualified Institutional Buyers99.96x
Non-Institutional Investor174.32x
Retail Individual Investor96.86x
Total118.58x
As of 13 Mar'26, 05:02 PM

Schedule

11 Mar 2026
IPO open date
13 Mar 2026
IPO close date
16 Mar 2026
Allotment date
16 Mar 2026
Funds unblock or debit
18 Mar 2026
Tentative listing date

About

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.;
Founded in
2012
MD/CEO
Mr. Basavaraju Kanakatte Shivakumar
Parent organisation
Apsis Aerocom Ltd

Apsis Aerocom Financials

Revenue
Total Assets
Profit
All values are in ₹ Cr
10.3716.8720.49202320242025

Strengths & Risks

Strengths
Risks
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.
The company’s manufacturing setup supports different production volumes depending on customer requirements. It is capable of producing prototype components for product development and research activities, as well as batch manufacturing for regular supply programs. This flexibility enables it to address varying production needs across aerospace, defence, and healthcare sectors, including projects requiring quick turnaround timelines.
Operating in sectors such as aerospace, defence and healthcare requires adherence to stringent regulatory and quality requirements. The company has experience working within such frameworks and maintaining documentation, traceability, and compliance processes required by these industries. This domain knowledge enables the company to collaborate with customer engineering teams and align manufacturing processes with industry standards and technical specifications.
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.
Raw material consumption constitutes a significant portion of the company’s total expenses. The cost of material consumed amounted to Rs 5.99 crore (29.22% of revenue and 51.48% of total expenses) in FY25, Rs 7.86 crore (46.63% of revenue and 58.44% of total expenses) in FY24, and Rs 4.64 crore (44.74% of revenue and 51.34% of total expenses) in FY23. The company procures materials from third-party suppliers based primarily on purchase orders and does not maintain long-term supply agreements. Any disruption in the supply chain, delay in procurement, or significant increase in raw material prices may affect production capacity, delay order fulfilment, and adversely impact financial performance.
The company relies on a limited number of suppliers for the procurement of key raw materials. The top five suppliers accounted for Rs 2.95 crore (47.33%), Rs 4.84 crore (62.41%), and Rs 2.49 crore (59.71%) of total purchases in FY25, FY24, and FY23, respectively, while the top 10 suppliers contributed Rs 3.86 crore (61.85%), Rs 6.16 crore (79.44%), and Rs 2.96 crore (71.14%) during the same periods. As the company does not have exclusive supply arrangements, suppliers may prioritise other customers or competitors, which could impact raw material availability, pricing, and production timelines, thereby adversely affecting operations and financial performance.
The company’s negative cash flows from investing activities amount to Rs 3.66 crore in FY25, Rs 4.91 crore in FY24, and Rs 0.45 crore in FY23. And the company’s negative cash flows from financing activities were Rs 0.81 crore in FY24 and Rs 0.36 crore in FY24. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
As of FY25, the company had contingent liabilities amounting to Rs 2.71 crore. If any of these liabilities materialise, it could adversely affect the company’s financial condition.
As of FY25, the company’s trade receivables were Rs 3.76 crore. Any failure to collect these receivables on time or at all can have a negative impact on the business and its financial condition.
As of FY25, the company had outstanding financial indebtedness of Rs 2.84 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.

Application details

For Apsis Aerocom IPO, eligible investors can apply as Individual investor.

Apply asPrice bandApply rangeLot size
Individual investor₹104 - ₹110₹2 - ₹5 Lakhs1200

Frequently Asked Questions