Summary
Aegeus Technologies plans to raise ₹23.71 crore through its SME IPO, open from 4 to 6 August 2026.
The company develops robotic cleaning systems for solar plants. The funds will go towards product development, a manufacturing facility and working capital.
Its recent growth is encouraging, but customer concentration, technology changes and low SME-market liquidity remain key concerns.
Aegeus Technologies IPO is a fresh issue of 22,58,400 equity shares with a face value of ₹10 each. At the upper end of the price band, the issue size works out to ₹23.71 crore. Bidding will remain open from 4 August to 6 August 2026, followed by the expected allotment on 7 August. The shares are scheduled to list on the BSE SME platform on 11 August 2026.
The IPO is priced between ₹100- ₹105 per share, and each lot contains 1,200 shares. Individual investors must bid for at least 2,400 shares, taking the minimum application value to ₹2,52,000 at the upper price. For sNII investors, the entry point is three lots worth ₹3,78,000. bNII applications start from eight lots, which comes to ₹10,08,000.
Aegeus Technologies IPO Details
The following table provides the key details of the Aegeus Technologies IPO.
| Particulars | Details |
| IPO Open Date | 4 August 2026 |
| Close Date | 6 August 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹105 per share |
| Issue Price | To be finalised after the book-building process |
| IPO Lot Size | 1,200 shares |
| Offer for sale | Nil |
| Fresh issue | 22,58,400 shares, aggregating up to ₹23.71 crore |
| Issue Type | Book-built SME IPO |
| Listing At | BSE SME |
| Total Issue Size (₹ Crore) | ₹23.71 crore |
| Minimum Investment | ₹2,52,000 for 2,400 shares at the upper price band |
Aegeus Technologies IPO Timeline
The following table provides the key dates in the Aegeus Technologies IPO timeline.
| Event | Date |
| IPO Open Date | 4 August 2026 |
| IPO Close Date | 6 August 2026 |
| Tentative Allotment | On or before 7 August 2026 |
| Initiation of Refunds | On or before 7 August 2026 |
| Credit of Shares to Demat | On or before 10 August 2026 |
| Tentative Listing Date | On or before 11 August 2026 |
| Cut-off Time for UPI Mandate Confirmation | 5:00 PM on 6 August 2026 |
Aegeus Technologies Key Performance Indicators (KPI)
The following table provides the key performance indicators of Aegeus Technologies for the latest three financial years.
| KPI | FY2026 | FY2025 | FY2024 |
| ROE (%) | 29.93% | 16.14% | 19.20% |
| ROCE (%) | 24.75% | 18.66% | 13.92% |
| Debt Equity (times) | 0.77 | 0.36 | 0.71 |
| RoNW (%) | 29.96% | 16.14% | 19.20% |
| PAT Margin (%) | 9.81% | 6.36% | 6.08% |
| EBITDA Margin (%) | 15.82% | 14.28% | 10.84% |
| Price Book Value | – | – | – |
Aegeus Technologies Financials
The following table presents the financial performance of Aegeus Technologies for the latest three financial years.
| Particulars (₹ crore) | FY2026 | FY2025 | FY2024 |
| Revenue from operations | 40.94 | 21.89 | 15.27 |
| Total assets | 39.36 | 22.09 | 13.56 |
| Profit after tax | 4.02 | 1.39 | 0.93 |
Aegeus Technologies IPO Subscription Status
| Date | QIB (Ex Anchor) | NII* | Individual Investors | Total |
|---|---|---|---|---|
| Aug 4 (Day 1) | 0.00 | 0.19 | 0.49 | 0.29 |
Aegeus Technologies IPO Grey Market Premium
Aegeus Technologies IPO has no reported GMP as of 3 August 2026. The estimated listing price and gain are marked as NA.
| GMP Date | GMP | Est. Listing Price (cap price + GMP) | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 04-08-2026 Open | ₹0 ─ | ₹105 (0.00%) | ₹0 | 4-Aug-2026 14:29 |
| 03-08-2026 | ₹0 ─ | ₹105 (0.00%) | ₹0 | 3-Aug-2026 23:31 |
| 02-08-2026 | ₹0 ─ | ₹105 (0.00%) | ₹0 | 2-Aug-2026 23:34 |
| 01-08-2026 | ₹0 ─ | ₹105 (0.00%) | ₹0 | 1-Aug-2026 23:29 |
| 31-07-2026 | ₹0 ─ | ₹105 (0.00%) | ₹0 | 31-Jul-2026 23:35 |
| 30-07-2026 | ₹0 ─ | ₹105 (0.00%) | ₹0 | 30-Jul-2026 23:32 |
| 29-07-2026 | ₹0 ─ | ₹105 (0.00%) | ₹0 | 29-Jul-2026 23:33 |
Note: GMP is an unofficial market indicator and can change quickly. It does not guarantee the IPO’s listing price or investor returns.
Aegeus Technologies IPO Reservation
The following table provides the category-wise reservation for the Aegeus Technologies IPO.
| Investor category | Shares offered |
| Market Maker Shares Offered | 3,25,200 shares |
| QIB Shares Offered | Not more than 9,64,800 shares |
| NII (HNI) Shares Offered | Not less than 2,91,600 shares |
| Retail/Individual Investor Shares Offered | Not less than 6,76,800 shares |
| Total Shares Offered | 22,58,400 shares |
Aegeus Technologies IPO Lot Size
The following table provides the application lot sizes for the Aegeus Technologies IPO.
| Investor category | Lots | Shares | Application amount* |
| Individual Investors (Retail) (Min) | 2 | 2,400 | ₹2,52,000 |
| Individual Investors (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 |
*The application amounts are calculated at the upper price band of ₹105 per share. The bid lot is 1,200 shares. Applications above the minimum individual application size are considered under the non-institutional investor category.
Aegeus Technologies IPO Anchor Investors
Aegeus Technologies has not yet announced its anchor investor allocation or the amount raised from anchor investors.
Aegeus Technologies IPO Prospectus
For more information on the issue, please go through the documents mentioned below.
About Aegeus Technologies
Aegeus Technologies was incorporated as Aegeus Technologies Private Limited on 20 April 2017. It became a public limited company in August 2024.
| Particulars | Details |
| Founded in | 2017 |
| Managing Director | Suraj Vernekar |
The company develops robotic and automation systems for the solar energy sector. Its products are mainly used for waterless solar-panel cleaning at ground-mounted and rooftop installations.
Unicorn Smart is used at large, utility-scale solar plants. For sites where complete automation is not practical, the company offers Unicorn R2R. Shreem, meanwhile, is a portable robot for cleaning rooftop solar panels.
Beyond product sales, Aegeus provides complete solar operations and maintenance services. It also offers annual maintenance contracts and Module Cleaning as a Service, where customers use its robotic cleaning systems without purchasing them upfront.
The company operates two manufacturing facilities in Bengaluru for designing, assembling and testing its robotic systems. It also uses digital platforms for remote monitoring, service requests and fleet management.
| Lead Manager | Turnaround Corporate Advisors Private Limited |
| IPO Registrar | Skyline Financial Services Private Limited |
Aegeus Technologies IPO Objectives
The following table outlines the proposed use of the IPO proceeds.
| Objective | Amount |
| Investment in product development | ₹2.86 crore |
| Purchase of land and civil work for a manufacturing facility | ₹5.74 crore |
| Working capital requirements | ₹8.00 crore |
| General corporate purposes | To be finalised |
The company plans to develop products such as Aegeus Optima, Mini Shreem, GreenSweep and Asset Guard. Part of the funds will also support software development and the recruitment of technical employees.
The amount for general corporate purposes will be finalised after the issue price is determined. It cannot exceed 15% of the amount raised or ₹10 crore, whichever is lower.
Strengths of Aegeus Technologies
- Patented waterless cleaning technology: The company has developed robotic cleaning systems that operate without water or cleaning chemicals. It holds patents in India and several overseas markets.
- Products for different solar installations: Unicorn Smart and Unicorn R2R cater to ground-mounted plants. Shreem is designed for rooftop solar systems.
- Combination of products and services: Revenue comes from robot sales, maintenance contracts, complete solar O&M services and Module Cleaning as a Service.
- In-house development capabilities: The company handles product design, assembly and testing through its Bengaluru facilities. Its digital platforms also support remote monitoring and after-sales service.
- Experienced management: Managing Director Suraj Vernekar’D has more than 24 years of experience in business, marketing and the electrical sector.
Risks of Aegeus Technologies
- Customer concentration: The five largest customers contributed 83.40% of revenue in FY2026. The loss or reduced spending of a major customer could affect sales and profitability.
- Limited adoption of robotic cleaning: Waterless robotic solar cleaning is still a specialised market. Customers may continue using manual or other lower-cost cleaning methods.
- Technology may become outdated: Robotics and automation systems change quickly. A delay in developing or upgrading products could weaken the company’s market position.
- Product quality concerns: Manufacturing faults or performance issues could lead to replacements, additional service costs and damage to customer relationships.
- Working capital requirements: The business needs funds for inventory, employee costs and order execution. Delayed customer payments may place pressure on cash flow.
- Expansion execution risk: The company plans to purchase land and build a manufacturing facility. Delays, cost increases or approval issues could affect the project.
Aegeus Technologies IPO Review
Aegeus Technologies operates in the specialised solar-maintenance segment, offering robotic systems for waterless panel cleaning and related services. Its total income increased from ₹15.28 crore in FY2024 to ₹41.22 crore in FY2026, while profit rose from ₹0.93 crore to ₹4.02 crore. The IPO is a fresh issue, with proceeds planned for product development, a manufacturing facility, working capital and general corporate purposes.
At the upper price of ₹105, the issue is valued at about 21.87 times FY2026 diluted earnings. The company benefits from recent revenue growth and exposure to solar automation, but it remains a small business with customer concentration, execution and technology risks. The IPO may suit investors comfortable with SME shares, while conservative investors may prefer to track post-listing performance.
Other Recent IPO List
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| MV Electrosystems IPO | Juniper Green Energy IPO |
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Aegeus Technologies IPO FAQs
Aegeus Technologies IPO is a book-built SME issue of 22,58,400 fresh equity shares. The issue is valued at ₹23.71 crore at the upper price band and will list on BSE SME.
Investors can apply through a stockbroker’s IPO platform or the ASBA facility offered by their bank. Select the IPO, enter the number of lots and approve the payment mandate.
The company has recorded revenue and profit growth and operates in the solar automation segment. However, investors should consider its small scale, customer concentration, technology risks and SME share liquidity before applying.
IPO returns cannot be predicted or guaranteed. They will depend on the final issue price, investor demand, market conditions and the listing price.
The Aegeus Technologies IPO will open on 4 August 2026 and close on 6 August 2026.
The lot size is 1,200 shares. Individual investors must apply for at least two lots, or 2,400 shares, requiring ₹2,52,000 at the upper price of ₹105.
Log in to your bank’s net banking portal and open the IPO or ASBA section. Select Aegeus Technologies IPO, enter the bid details and submit the application.
The tentative basis of allotment is expected to be finalised on 7 August 2026.
Aegeus Technologies shares are tentatively scheduled to list on BSE SME on 11 August 2026.
