ALLIED ENGINEERING WORKS LIMITED FILES DRHP WITH SEBI
Allied Engineering Works Limited (Allied Engineering) (“the Company”), a technology-driven solutions provider, focused on meeting the evolving needs of utilities in implementing smart metering infrastructure across India and enhancing the efficiency of utility distribution systems has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
The Company plans to raise funds through offer of equity share capital via initial public offering. The Public Offer comprises of fresh issue of equity shares aggregating up to ₹ 4,000 million (₹400 Crore). (The “Fresh Issue”) and ‘Offer for Sale’ of up to 7,500,000 equity shares with face value Rs.5 each share.
Allied Engineering Works Limited is ranked among the top five energy meter solutions providers in India in terms of manufacturing capacity of 7.29 million energy meters per annum as of March 31, 2025. (Source: Crisil Report). The company is also the fastest-growing comprehensive smart energy meter solutions provider in India in terms of revenue growth, achieving a CAGR of 109.76% from Fiscal 2023 to Fiscal 2025. (Source: Crisil Report). It b manufactures and supply a range of smart energy meters along with supporting technologies, including communication networks, and data management platforms. These solutions facilitate real-time monitoring, visualization, and optimization of energy usage. Company’s range of smart energy meters includes consumer smart meters (single phase and three phase meters, and low voltage current transformer (“LTCT”) and high voltage current transformer (“HTCT”) consumer meters, DT smart meters, feeder and boundary smart meters. Company business strategy allows it to cater to higher quantities of three phase or DT meters as it work with both AMISPs and utilities instead of working only with utilities. Allied Engineering Works Limited also manufacture and supply static energy meters (including single and three phase meters) and wires and cables.
Axis Capital Limited and IIFL Capital Services Limited are the Book Running Lead Managers (BRLMs) to the issue.