Latest news with #AshutoshGoel
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.
Indian Express
a day ago
- Business
- Indian Express
Hero Motors, Allied Engineering, Meesho among 12 companies that filed IPO papers last week: Full list
IPO Papers, Draft IPO Papers: A total of 12 companies, including smart energy meter manufacturer Allied Engineering Works, Hero Motors, e-commerce platform Meesho, and air freight forwarder Skyways Air Services, among others, filed draft papers with SEBI and BSE last week to raise funds through initial public offerings (IPOs). Earlier this month, investment bankers projected that Indian firms could collectively raise around $2.4 billion via IPOs in July, according to a Reuters report. Here's a look at the complete list of companies that submitted IPO documents last week. 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 Saturday. Speciality chemicals company Safex Chemicals (India) has filed preliminary papers with the capital markets regulator Sebi to seek approval to raise funds through an initial public offering (IPO). The IPO is a mix of fresh issue of shares worth Rs 450 crore and an offer-for-sale of 35,734,818 shares by promoters, investors and other selling shareholders, according to the draft red herring prospectus (DRHP) filed on Thursday. Softbank-backed e-commerce firm Meesho has filed a draft paper with markets regulator Sebi through confidential route, sources aware of the development said. The resolution to launch an IPO was passed in the Extraordinary General Meeting on June 25. The company shared its plans to raise at least Rs 4,250 crore in the initial public offering. Automotive solutions provider Fourfront on Wednesday said it has filed preliminary papers with BSE's SME platform to mobilise funds through an initial share sale. The initial public offering is entirely a fresh issue of up to 65 lakh fresh equity shares with a face value of Rs 10 each with no offer-for-sale component. The shares of the Pune-based company will be listed on the BSE's SME platform, the company said in a statement. Industrial steam and gas supplier Steamhouse India has filed for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise between Rs 500 crore and Rs 700 crore, industry sources familiar with the development said. In a public announcement on Wednesday, Surat-based Steamhouse India said it has submitted 'the pre-filed draft red herring prospectus with Sebi and the stock exchanges…in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges'. Air freight forwarding and logistics company Skyways Air Services Ltd has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO). The city-based company's IPO is a mix of fresh issue of 32.92 million equity shares and an offer for sale (OFS) of 13.33 million equity shares by promoters and other selling shareholders, according to the draft red herring prospectus (DRHP) filed on Monday. Logistics service provider Shadowfax Technologies has filed for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise Rs 2,000-2,500 crore, industry sources familiar with the development said. The company could be valued at around Rs 8,500 crore, they added. The IPO is a mix of fresh issue and an offer-for-sale (OFS) by existing shareholders. Auto parts maker Hero Motors has filed draft papers with markets regulator Sebi to raise Rs 1,200 crore through an initial public offering (IPO). The IPO is a combination of a fresh issue of equity shares worth Rs 800 crore and an offer-for-sale (OFS) of shares worth Rs 400 crore by promoters, according to the draft papers filed on Monday. As a part of the OFS, O P Munjal Holdings will be offloading shares to the tune of Rs 390 crore; and Bhagyoday Investments and Hero Cycles will divest shares valued Rs 5 crore each. Tenneco Clean Air India Ltd, part of the US-headquartered Tenneco Group, on Monday filed preliminary papers with capital markets regulator Sebi for a Rs 3,000-crore initial public offering (IPO). The proposed IPO is entirely an Offer for Sale (OFS) by the promoter Tenneco Mauritius Holdings Ltd with no fresh equity issuance, according to the draft red herring prospectus (DRHP). Gujarat-based German Green Steel and Power has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The initial public offering (IPO) is a combination of fresh issuance of equity shares worth up to Rs 450 crore and an offer for sale of up to 20 lakh shares by promoters Inamulhaq Shamsulhaq Iraki and Abdulhaq Shamsulhaq Iraki, according to the Draft Red Herring Prospectus (DRHP). Eco-friendly paper manufacturer Sillverton Industries has filed draft papers with markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issuance of shares worth Rs 300 crore, and an offer-for-sale of 3.22 crore equity shares by promoters and promoter group entities, according to the draft red herring prospectus (DRHP). Gaja Alternative Asset Management Ltd, which operates under the brand Gaja Capital, has filed confidential draft papers with markets regulator Sebi for an initial public offering (IPO). In a public announcement on Monday, the company stated that it has submitted the pre-filed draft red herring prospectus (DRHP) with Sebi and the stock exchanges for the proposed listing of its equity shares on the main board. (With inputs from PTI)
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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.)
