The suggested IPO is a combination of fresh release of parts that cost Rs 400 crore, and the redeeming red herring prospectus (DRHP) submitted Saturday.
Proceeds from fresh issue will be used for financial part of Capital spending required to accommodate manufacturing facilities. This includes Rs 116.75 crore for creating smart gas meter, smart water meter, and internet items) solutions of electric meters.
In addition, Rs 120 crore will be paid for meeting the coming company Capital work Prerequisites and a portion of the revenues are also available for general corporate purposes.
Also, the city-based company is considered to proceed to Rs 80 crore in a pre-ipo round. If such fund raising is made, then the size size of the issue is reduced.
Allied Engineering Works is a technology provider facing the requirements of smart metering impression on the whole Indian and developing efficiency of USING Distribution systems. Through March 31, 2025, the company provides 2.92 million Smart Energy Meters in a Smart Service Equipment Engineering Works’ Competing companies include Genus Power, Avon Meter and Avon Meter and Avon Meter and Capital Electricity systems.
Axis capital and IIFL CAPITAL SERVICES Defined as merchant merchants to manage the IPO.
