According to the draft of the draft red herring prospectus (DRHP) filed on Saturday, the proposed IPO is a combination of 400 crore shares, and Lakh 75 lakh shares by promoter Ashutosh Goel.
The income from the fresh issues will be used to lend the capital costs required to establish production facilities. This includes Rs 116.75 crore for the production of smart gas meter, smart water meter and IoT (Internet Th Fha Things) solutions in Kundli facility and 99.71 crore for the production of smart electricity meters in RAI facility.
In addition, Rs 120 crore will be allocated to meet the company’s future working capital requirements and a portion of income will also be used for general corporate purposes.
Also, the city-based company plans to raise Rs 80 crore in the pre-IPO round. If such funds are raised, the size of the fresh issue will be reduced.
Allied Engineering Works is a technology -based solution provider, which is focused on meeting the evolving requirements of utilities to apply smart metering infrastructure across India and increase the efficiency of utility distribution systems.
As of March 31, 2025, the company has introduced one utility and 13 advanced metering infrastructure service providers (AMISPs) in Andhra Pradesh, Gujarat, Maharashtra, Maharashtra, Haryana, Punjab and Uttar Pradesh, about 10 per cent of India and Rs. Service Providers (AMISP) has been supplied.
Competition with Allied Engineering Works’ companies includes genus power infrastructures, HPL electric and power, secure meter, aon meter and capital power systems.
Axis Capital and IIFL Capital Services have been entered as merchant bankers to manage the IPO.
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