Allied Engineering Works Ltd. IPO Details
Allied Engineering Works was incorporated on June 7, 2011. The company is a tech-driven solutions provider for smart metering infrastructure and utility efficiency in India. With integrated design and manufacturing, it offers a full range of smart meters and IoT solutions, ranking among India’s top five by capacity as of March 31, 2025
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 7.5 M | - | - | ₹4,000.0 M | DRHP DOC |
Allied Engineering Works issue details
Allied Engineering Works has 7.5 M shares on offer
Allied Engineering Works IPO issue size is ₹ 4,000.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Allied Engineering Works IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Allied Engineering Works NUMBER OF SHARES ON OFFER
Allied Engineering Works FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 140.3 | 717.1 | 6.7 | -6.3 | 28.9% |
| FY24 | 47.4 | 348.5 | 26.2 | 20.2 | 20.9% |
| FY23 | 1.0 | 163.0 | -9.8 | -11.9 | 7.3% |
Allied Engineering Works INFORMATION ON IPO ISSUE
About Allied Engineering Works
Allied Engineering Works was incorporated on June 7, 2011. The company is a tech-driven solutions provider for smart metering infrastructure and utility efficiency in India. With integrated design and manufacturing, it offers a full range of smart meters and IoT solutions, ranking among India’s top five by capacity as of March 31, 2025
Object of the Issue
- Part-financing the capital expenditure requirements for setting up manufacturing facilities for production of smart gas meters, smart water meters, IoT solutions at the “Kundli Facility"
- Part-financing the capital expenditure requirements for setting up manufacturing facilities for establishing tool room, injection moulding facility and facility for production of smart electricity meters at “Rai Facility”
- Funding future working capital requirements of the company
- General corporate purposes
Allied Engineering Works - PROMOTERS
| Name |
|---|
| Ashutosh Goel |
| Nidhi Goel |
| RP Goel Family Trust |
| AEW Infratech Private Limited |
Allied Engineering Works Book Running Lead Manager
Axis Capital Limited
aew.ipo@axiscap.in
IIFL Capital Services Limited
aew.ipo@iiflcap.com
Allied Engineering Works Registrar to the Offer
KFin Technologies Limited
allied.ipo@kfintech.com
Allied Engineering Works Strengths
R&D capabilities
The company has consistently innovated through strong R&D, evolving from basic static meters in 2002 to advanced smart meters with communication tech like LPRF and IR. Its product range now includes smart DT and feeder meters, supporting modern energy needs
Integrated manufacturing facilities
The company operates three advanced manufacturing facilities in Delhi with integrated design-to-testing processes. These facilities include automated PCB assembly units with a 500,000 components per hour capacity, ensuring high-quality and scalable production
Diversified technologies
The company has supplied smart metering products to over 37 utilities under key Indian electrification schemes and exported 1.04 million meters to Ethiopia. Between April 2022 and March 2025, it delivered over 2.92 million smart meters across various categories
Allied Engineering Works Risks
Competition
The company operates in a highly competitive meter manufacturing industry with rapid tech changes and evolving customer needs. It faces strong competition from both domestic and global players with greater resources, making timely delivery and product quality key differentiators
Change or cancellation in orders
As of March 31, 2025, the company had confirmed orders worth Rs 18,535.98 million for 5.79 million smart meters. However, these orders are subject to change or cancellation due to external factors, which may impact future revenue and profitability
Payment default risks
The company faces risks from delayed or defaulted payments due to extending credit to customers, especially government entities. Such delays can increase receivables and negatively impact cash flow, operations, and financial health
IPO FAQs
The promoters of the company are Ashutosh Goel, Nidhi Goel, RP Goel Family Trust and AEW Infratech Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.