The proposed IPO is a mix of recent issuance of shares value Rs 400 crore, and an offer-for-sale of 75 lakh shares by promoter Ashutosh Goel, in keeping with the draft purple herring prospectus (DRHP) filed on Saturday.
Proceeds from the recent situation might be used for half financing the capital expenditure required to arrange manufacturing services. This contains Rs 116.75 crore for the manufacturing of sensible fuel meters, sensible water meters, and IoT (Web of Issues) options on the Kundli facility, and Rs 99.71 crore for the manufacturing of sensible 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 will even be used for basic 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 recent situation measurement might be lowered.
Allied Engineering Works is a technology-driven options supplier, targeted on assembly the evolving wants of utilities in implementing sensible metering infrastructure throughout India and enhancing the effectivity of utility distribution techniques. As of March 31, 2025, the corporate has equipped 2.92 million sensible power 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 entire sensible power meters put in in India, in keeping with a Crisil report. Allied Engineering Works’ competes with firms embrace Genus Energy Infrastructures, HPL Electrical and Energy, Safe Meters, Avon Meters and Capital Energy Methods.
Axis Capital and IIFL Capital Companies have been roped in as service provider bankers to handle the IPO.
