Aegeus Technologies IPO
Aegeus Technologies IPO was a book-built SME issue of ₹23.71 crore, comprising an entirely Fresh Issue of 22.58 lakh shares. The price band was ₹100 to ₹105 per share, with a lot size of 1,200 shares and a minimum application of 2,400 shares.
Aegeus Technologies IPO Details
Aegeus Technologies IPO opened for public subscription on August 4, 2026 and closed on August 6, 2026. The basis of allotment was finalized on August 7, refunds were initiated on August 10, shares were credited to Demat accounts on August 10, and the shares were listed on BSE SME on August 11, 2026. The final issue price was ₹105 per share and the shares listed at ₹124.50.
Aegeus Technologies IPO GMP
The reported Aegeus Technologies IPO GMP reached approximately ₹12 before listing against the upper issue price of ₹105. This implied an unofficial estimated price of around ₹117. GMP is unofficial grey-market information and does not guarantee the actual listing price.
Aegeus Technologies IPO Timeline (Tentative)
Aegeus Technologies IPO opened on August 4, 2026 and closed on August 6, 2026. The basis of allotment was completed on August 7, followed by refund initiation and Demat credit on August 10. The shares were listed on BSE SME on August 11, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Tue, Aug 4, 2026 |
| IPO Close Date | Thu, Aug 6, 2026 |
| Basis of Allotment | Fri, Aug 7, 2026 |
| Initiation of Refunds | Mon, Aug 10, 2026 |
| Credit of Shares to Demat | Mon, Aug 10, 2026 |
| Listing Date | Tue, Aug 11, 2026 |
| IPO Opens | August 4, 2026 |
| IPO Closes | August 6, 2026 |
| Basis of Allotment | August 7, 2026 |
| Refund Initiation | August 10, 2026 |
| Credit of Shares to Demat | August 10, 2026 |
| Listing Date | August 11, 2026 |
Aegeus Technologies IPO Lot Size
The Aegeus Technologies IPO lot size was 1,200 shares. The minimum application was 2 lots, or 2,400 shares, requiring ₹2,52,000 at the upper price band of ₹105. Small HNI investors could apply for a minimum of 3 lots, while Big HNI investors could apply for a minimum of 8 lots.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 2,52,000 |
| Retail (Max) | 2 | 2,400 | 2,52,000 |
| S-HNI (Min) | 3 | 3,600 | 3,78,000 |
| S-HNI (Max) | 7 | 8,400 | 8,82,000 |
| B-HNI (Min) | 8 | 9,600 | 10,08,000 |
Aegeus Technologies IPO Reservation
The net issue was structured with not more than 50% reserved for Qualified Institutional Buyers, not less than 15% for Non-Institutional Investors and not less than 35% for Retail Individual Investors. A separate market-maker reservation of 3,25,200 shares was included in the overall issue.
Aegeus Technologies IPO Subscription
Aegeus Technologies IPO received strong demand on the final day of bidding. The final reported subscription was approximately 24.33 times overall, with QIBs subscribed 23.88 times, NIIs 23.25 times and Retail Individual Investors 25.59 times.
| Category | Subscription (times) |
|---|---|
| QIB | 23.88x |
| NII | 23.25x |
| RII | 25.59x |
| Total | 24.33x |
About Aegeus Technologies
Aegeus Technologies Limited was incorporated in 2017 and was originally incorporated as Aegeus Technologies Private Limited. The company was subsequently converted into a public limited company in 2024. It operates in the field of robotic and intelligent automation solutions focused on the solar-energy sector.
The company develops robotic solutions for solar-panel cleaning and operations and maintenance activities. Its systems are designed to provide waterless or low-resource cleaning solutions that can help solar-plant operators manage soiling-related efficiency losses.
Its product portfolio includes Unicorn Smart, Unicorn R2R and Shreem. These products are designed for different solar installations, including large utility-scale plants, large and mid-sized installations and rooftop solar applications.
Aegeus Technologies also provides solar O&M services, annual maintenance contracts, Module Cleaning as a Service and field-service support. Its service network includes service hubs and spoke warehouses intended to support installation, maintenance and spare-parts requirements.
The company's business model combines product development, robotic automation and solar O&M capabilities. It is positioned in a sector where solar capacity expansion and the need for efficient plant maintenance can create opportunities for specialised cleaning and automation technologies.
Strengths
- Focused business model in robotic automation for the solar-energy sector.
- Specialised waterless robotic solar-panel cleaning solutions.
- Product portfolio covering utility-scale, mid-sized and rooftop solar applications.
- Combination of robotic products and solar O&M services.
- Product-development capabilities focused on solar-sector automation.
- Service infrastructure supporting installation and maintenance requirements.
- Exposure to the growing renewable-energy and solar-power ecosystem.
- Experienced management and technical workforce.
Risks to Consider
- The company operates in a specialised and competitive technology market.
- Demand is linked to the growth and investment cycle of the solar-energy industry.
- Product development requires continued investment in technology and innovation.
- Robotic products may require ongoing servicing, maintenance and technical support.
- The company depends on successful commercial adoption of its products and services.
- Manufacturing and capacity-expansion plans involve capital expenditure and execution risks.
- Working-capital requirements may increase as the business expands.
- Changes in solar-energy policies, project activity or industry economics could affect demand.
- Technology changes could require additional product-development expenditure.
- The company has a relatively short history as a public company following its conversion in 2024.
Aegeus Technologies Financials (₹ Cr)
Aegeus Technologies reported substantial growth in revenue and profitability between FY2024 and FY2026. Revenue from operations increased from ₹15.28 crore in FY2024 to ₹41.22 crore in FY2026, while PAT increased from ₹0.93 crore to ₹4.02 crore during the same period.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | 15.28 | 0.93 | 13.56 | 5.83 |
| FY2025 | 21.90 | 1.39 | 22.09 | 11.42 |
| FY2026 | 41.22 | 4.02 | 39.36 | 15.40 |
KPIs & Valuation
At the issue price of ₹105, Aegeus Technologies reported pre-IPO EPS of ₹6.57 and post-IPO EPS of ₹4.80. The pre-IPO P/E was 15.98x and the post-IPO P/E was 21.88x. FY2026 RoNW was 29.93%, ROCE was 24.75% and NAV was ₹25.18 per share.
Objects of the Issue
The company proposed to utilise the Net Proceeds from the Fresh Issue for product development, capital expenditure towards establishing a manufacturing facility, working-capital requirements and general corporate purposes. The project cost disclosed for the issue was ₹20.16 crore, while the issue proceeds were ₹23.71 crore.
- The company proposed to utilise the IPO proceeds for:
- Investment in Product Development.
- Funding capital expenditure towards setting up a manufacturing facility through purchase of land and civil work.
- Meeting working-capital requirements to support business growth.
- General corporate purposes.
Promoters, Lead Managers & Registrar
Aegeus Technologies Limited is promoted by Suraj Vernekar'D, Roopa Vernekar and Nishith Rameshchandra Shah. Turnaround Corporate Advisors Private Limited acted as the Book Running Lead Manager, while Skyline Financial Services Private Limited acted as the Registrar to the Issue. Prabhat Financial Services Limited acted as the Market Maker.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Skyline Financial Services Private Limited |
|---|---|
| Phone | +91-11-40450193-97 |
| ipo@skylinerta.com | |
| Website | https://www.skylinerta.com/ |
Aegeus Technologies IPO Review
Aegeus Technologies recorded revenue from operations of ₹15.28 crore in FY2024, ₹21.90 crore in FY2025 and ₹41.22 crore in FY2026. Profit after tax increased from ₹0.93 crore in FY2024 to ₹1.39 crore in FY2025 and ₹4.02 crore in FY2026.
The company's EBITDA increased from ₹1.66 crore in FY2024 to ₹3.13 crore in FY2025 and ₹6.48 crore in FY2026. Net worth increased from ₹5.83 crore in FY2024 to ₹11.42 crore in FY2025 and ₹15.40 crore in FY2026.
Aegeus Technologies has a specialised business model centred on robotic solar-panel cleaning and solar O&M solutions. Its focus on waterless cleaning technology differentiates its offering within the solar plant maintenance segment.
The IPO was entirely a Fresh Issue. The company proposed to deploy the proceeds towards product development, establishing a manufacturing facility, working capital and general corporate purposes.
At the issue price of ₹105, the reported pre-IPO EPS was ₹6.57 and post-IPO EPS was ₹4.80. The corresponding P/E ratios were approximately 15.98x and 21.88x respectively.
The company reported FY2026 RoNW of 29.93%, ROCE of 24.75%, EBITDA margin of 15.82%, PAT margin of 9.81% and debt-to-equity of 0.77x. NAV was ₹25.18 per share.
How to Apply
Aegeus Technologies IPO applications could be made through the applicable ASBA and UPI-supported IPO application process. The minimum application was 2,400 shares, requiring ₹2,52,000 at the upper price band of ₹105.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Aegeus Technologies IPO.
- Enter the required number of lots.
- Select the applicable bid price or Cut-off option where permitted.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI application after receiving the mandate request.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account until the allotment process is completed.
Prospectus & Documents
Investors can refer to the company's official website and IPO offer documents for information relating to its business, financial statements, risk factors, objects of the issue, capital structure and statutory disclosures. The company's official website also hosts its draft red herring prospectus information.
Last updated Sep 1, 2026.