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Economic Times
a day ago
- Business
- Economic Times
Allied Engineering Works files IPO papers; seeks to raise Rs 400 cr via fresh issue
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Markets Smart energy meter manufacturer Allied Engineering Works has filed preliminary papers with the markets regulator Sebi to garner funds through an initial public offering (IPO).The proposed IPO is a combination of fresh issuance of shares worth Rs 400 crore, and an offer-for-sale of 75 lakh shares by promoter Ashutosh Goel, according to the draft red herring prospectus (DRHP) filed on from the fresh issue will be used for part financing the capital expenditure required to set up manufacturing facilities. This includes Rs 116.75 crore for the production of smart gas meters, smart water meters, and IoT (Internet of Things) solutions at the Kundli facility, and Rs 99.71 crore for the production of smart electricity meters at the Rai Rs 120 crore will be allocated towards meeting the company's future working capital requirements and a portion of the proceeds will also be used for general corporate the city-based company considers raising up to Rs 80 crore in a pre-IPO round. If such fund-raising is undertaken, then fresh issue size will be Engineering Works is 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 of March 31, 2025, the company has supplied 2.92 million smart energy meters to one utility and 13 Advanced Metering Infrastructure Service Providers (AMISPs) for installation across six states, including Andhra Pradesh, Gujarat, Maharashtra, Haryana, Punjab and Uttar Pradesh, representing about 10 per cent of the total smart energy meters installed in India, according to a Crisil Engineering Works' competes with companies include Genus Power Infrastructures, HPL Electric and Power, Secure Meters, Avon Meters and Capital Power Systems. Axis Capital and IIFL Capital Services have been roped in as merchant bankers to manage the IPO.
Time of India
a day ago
- Business
- Time of India
Allied Engineering Works files IPO papers; seeks to raise Rs 400 cr via fresh issue
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Smart energy meter manufacturer Allied Engineering Works has filed preliminary papers with the markets regulator Sebi to garner funds through an initial public offering (IPO).The proposed IPO is a combination of fresh issuance of shares worth Rs 400 crore, and an offer-for-sale of 75 lakh shares by promoter Ashutosh Goel, according to the draft red herring prospectus (DRHP) filed on from the fresh issue will be used for part financing the capital expenditure required to set up manufacturing facilities. This includes Rs 116.75 crore for the production of smart gas meters, smart water meters, and IoT (Internet of Things) solutions at the Kundli facility, and Rs 99.71 crore for the production of smart electricity meters at the Rai Rs 120 crore will be allocated towards meeting the company's future working capital requirements and a portion of the proceeds will also be used for general corporate the city-based company considers raising up to Rs 80 crore in a pre-IPO round. If such fund-raising is undertaken, then fresh issue size will be Engineering Works is 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 of March 31, 2025, the company has supplied 2.92 million smart energy meters to one utility and 13 Advanced Metering Infrastructure Service Providers (AMISPs) for installation across six states, including Andhra Pradesh, Gujarat, Maharashtra, Haryana, Punjab and Uttar Pradesh, representing about 10 per cent of the total smart energy meters installed in India, according to a Crisil Engineering Works' competes with companies include Genus Power Infrastructures, HPL Electric and Power, Secure Meters, Avon Meters and Capital Power Systems. Axis Capital and IIFL Capital Services have been roped in as merchant bankers to manage the IPO.
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Business Standard
a day ago
- Business
- Business Standard
Allied Engineering Works files IPO papers, to raise ₹400 cr via fresh issue
Smart energy meter manufacturer Allied Engineering Works has filed preliminary papers with the markets regulator Sebi to garner funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issuance of shares worth ₹400 crore, and an offer-for-sale of 75 lakh shares by promoter Ashutosh Goel, according to the draft red herring prospectus (DRHP) filed on Saturday. Proceeds from the fresh issue will be used for part financing the capital expenditure required to set up manufacturing facilities. This includes Rs 116.75 crore for the production of smart gas meters, smart water meters, and IoT (Internet of Things) solutions at the Kundli facility, and Rs 99.71 crore for the production of smart electricity meters at the Rai facility. Additionally, ₹120 crore will be allocated towards meeting the company's future working capital requirements and a portion of the proceeds will also be used for general corporate purposes. Also, the city-based company considers raising up to ₹80 crore in a pre-IPO round. If such fund-raising is undertaken, then fresh issue size will be reduced. Allied Engineering Works is 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. As of March 31, 2025, the company has supplied 2.92 million smart energy meters to one utility and 13 Advanced Metering Infrastructure Service Providers (AMISPs) for installation across six states, including Andhra Pradesh, Gujarat, Maharashtra, Haryana, Punjab and Uttar Pradesh, representing about 10 per cent of the total smart energy meters installed in India, according to a Crisil report. Allied Engineering Works' competes with companies include Genus Power Infrastructures, HPL Electric and Power, Secure Meters, Avon Meters and Capital Power Systems. Axis Capital and IIFL Capital Services have been roped in as merchant bankers to manage the IPO. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
24-06-2025
- Business
- Time of India
Smart meter manufacturers' revenue to grow by 20% to ₹9,000 crore in FY26
Manufacturers of smart electric meters in India are set for another year of significant expansion, with revenues projected to grow by 20 per cent in fiscal year 2026 (FY26), reaching approximately ₹9,000 crore, according to a report by Crisil Ratings . The ratings agency said that the revenue growth mirrors the strong performance seen in fiscal year 2025 and signals a buoyant period for the industry. The surge in revenue is expected to translate into improved profitability for manufacturers. Crisil forecasts an increase in operating profitability by 75-80 basis points (bps), pushing it close to 13 per cent in fiscal 2026, driven by inherently higher margins of smart electric meters. 1 basis point is 0.01 per cent. Furthermore, rising capacity utilisation driven by accelerated order execution will lead to better cost absorption for these companies, Crisil said. The positive financial trajectory is also expected to strengthen the balance sheets of smart meter manufacturers . Improved cash flows are anticipated to reduce reliance on debt for managing increased working capital requirements and moderate capital expenditure (capex), thereby maintaining healthy credit profiles. The primary catalyst behind this growth is the accelerated implementation of the Smart Meter National Programme (SMNP), a flagship initiative by the government of India aimed at replacing 25 crore conventional electricity meters with prepaid smart electric meters . The execution under SMNP will gather pace from fiscal year 2026 due to three factors – streamlining of direct debit facility (DDF) establishment of for Advanced Metering Infrastructure Service Providers (AMISPs); improved availability of semiconductors; and government's mandate to import Bureau of Indian Standards (BIS)-certified smart electric meters, said Nitin Kansal, director of Crisil Ratings While the outlook is largely positive, increased execution of smart meter deployments will lead to a 25-30 per cent rise in working capital requirements this fiscal. Crisil has projected healthy balance sheets for smart meter manufacturers, with gearing and interest coverage ratios expected to remain range-bound at 0.50-0.55 times and 3.0-4.0 times, respectively, over the next two fiscal years. Despite the strong growth prospects, the pace of smart electric meter installations by discoms, timely payment collection, and the potential impact of any geopolitical events disrupting semiconductor supply will require close monitoring, according to the report.
