The proposed IPO is a mixture of contemporary issuance of shares price Rs 400 crore, and an offer-for-sale of 75 lakh shares by promoter Ashutosh Goel, in accordance with the draft pink herring prospectus (DRHP) filed on Saturday.
Proceeds from the contemporary situation might be used for half financing the capital expenditure required to arrange manufacturing amenities. This contains Rs 116.75 crore for the manufacturing of good gasoline meters, good water meters, and IoT (Web of Issues) options on the Kundli facility, and Rs 99.71 crore for the manufacturing of good electrical energy meters on the Rai facility.
Moreover, Rs 120 crore might be allotted in the direction of assembly the corporate’s future working capital necessities and a portion of the proceeds may also be used for normal company functions.
Additionally, the city-based firm considers elevating as much as Rs 80 crore in a pre-IPO spherical. If such fund-raising is undertaken, then contemporary situation dimension might be lowered.
Allied Engineering Works is a technology-driven options supplier, targeted on assembly the evolving wants of utilities in implementing good metering infrastructure throughout India and enhancing the effectivity of utility distribution programs. As of March 31, 2025, the corporate has provided 2.92 million good vitality meters to 1 utility and 13 Superior Metering Infrastructure Service Suppliers (AMISPs) for set up throughout six states, together with Andhra Pradesh, Gujarat, Maharashtra, Haryana, Punjab and Uttar Pradesh, representing about 10 per cent of the whole good vitality meters put in in India, in accordance with a Crisil report. Allied Engineering Works’ competes with corporations embrace Genus Energy Infrastructures, HPL Electrical and Energy, Safe Meters, Avon Meters and Capital Energy Techniques.
Axis Capital and IIFL Capital Providers have been roped in as service provider bankers to handle the IPO.
