Allied engineering works iPo: Delhi -based company Allied Engineering Works has submitted draft papers to the Capital Market Regulator SEBI for its IPO. It will have new shares worth Rs 400 crore. Also, the company’s promoter Ashutosh Goyal will have an offer for sale of 75 lakh shares. The company makes smart energy meters. It was incorporated in 1986. Its product portfolio includes consumer smart meter, distribution transformer, feeder and boundary smart meter as well as advanced automation and Internet of Things (IOT) solutions.
It can raise up to Rs 80 crore before IPO. If this happens, the size of the issue of new shares in the IPO will decrease. Alide Engineering Works supplied 29.2 lakh smart energy meters to Andhra Pradesh, Gujarat, Maharashtra, Haryana, Punjab and Uttar Pradesh by March 2025 to a utility and 13 AMISPS (Advanced Metering Infrastructure Service Provider).
The company received orders for supply of 57.9 lakh smart energy meters of Rs 1853.6 crore by March 2025. Listed competitions of Allied Engineering Works include Genus Power Infrastructure and HPL Electric & Power. Axis Capital and IIFL Capital Services, Merchant Bankers to handle IPO.
How to use IPO money
The company is planning to set up two manufacturing plants. One- for the production of smart gas meters, smart water meters and IOT solutions and another- tool room, injection molding and installing smart power meters. In this direction, Rs 216.5 crore will be spent out of the money to be received by releasing new shares in the IPO. Apart from this, 120 crore rupees will be for future working capital needs. The remaining money will be used for general corporate purposes.
Prepared to list another company in the mainboard segment, submit the draft of the IPO; New shares of ₹ 450 crore will be
Company’s financial position
Revenue of Allied Engineering Works increased from 109.76 percent compound to Rs 717 crore during FY23-FY25. The profit of 1,074.4 percent during this period increased from an annual growth rate to Rs 140.26 crore.
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