Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
SEBI has approved the Initial Public Offer (IPO) of Allied Engineering Works Ltd. on October 30, 2025. The company will proceed with next steps to launch the Initial Public Offer (IPO) subject to market conditions and other approvals. The SEBI approval is valid for 12 months.
Allied Engineering Works Ltd. IPO is a Book Build Issue consisting of fresh issue of ₹400.00 crores and an offer for sale (OFS) of upto 0.75 crore equity shares.
The equity shares are proposed to be listed on NSE and BSE. Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Allied Engineering Works IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Fresh Issue | [.] shares (agg. up to ₹400 Cr) |
| Offer for Sale | 75,00,000 shares of ₹5 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 11,00,00,000 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Fri, Jul 4, 2025 |
| SEBI/Exchange approval received | Thu, Oct 30, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Allied Engineering Works Ltd (AEW), specializes in smart metering and advanced system solutions.
As per CRISIL report, AEW is one of the top five energy meter solutions provider company in India - with total installed manufacturing capacity of 7.29 million meters per annum as of March 31, 2025.
Key offerings
As of March 31, 2025, supplied 2.92 million smart meters to one utility and 13 AMISPs for deployment across six Indian states —Andhra Pradesh, Gujarat, Maharashtra, Haryana, Punjab, and Uttar Pradesh.
As of March 31, 2025, it has confirmed orders for 5.79 million smart energy meters worth ₹18,535.98 million, which includes supply of 0.43 million DT meters worth ₹2,029.10 million.
The company has 3 state-of-the-art manufacturing facility across a total build up area of and also a tool room facility in Delhi.
Competitive Strengths
Allied Engineering Works Ltd.'s revenue increased by 106% and profit after tax (PAT) rose by 196% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 548.99 | 269.18 | 148.23 |
| Total Income | 720.08 | 349.81 | 164.86 |
| Profit After Tax | 140.26 | 47.41 | 1.02 |
| EBITDA | 207.01 | 72.73 | 11.86 |
| NET Worth | 213.52 | 73.25 | 25.79 |
| Reserves and Surplus | 158.52 | 67.75 | 20.29 |
| Total Borrowing | 66.91 | 28.14 | 30.40 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Part financing the capital expenditure requirements for setting up manufacturing facilities for the production of: (a) smart gas meters, smart water meters, IoT solutions at the Kundli Facility | 116.75 |
| 2 | Part financing the capital expenditure requirements for setting up manufacturing facilities for the production of: (b) smart electricity meters at the Rai Facility | 99.71 |
| 3 | Funding future working capital requirements of the Company | 120.00 |
| 4 | General corporate purposes |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 65.69% |
| ROCE | 71.47% |
| Debt/Equity | 0.42 |
| RoNW | 65.69% |
| PAT Margin | 19.56% |
| EBITDA Margin | 28.87% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% |
Lead Manager Reports
Allied Engineering Works IPO is a main-board IPO of 0 equity shares of the face value of ₹5 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Allied Engineering Works IPO open and close dates are not available as of now.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Allied Engineering Works IPO using UPI as a payment gateway. Zerodha customers can apply in Allied Engineering Works IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Allied Engineering Works IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Allied Engineering Works IPO dates are not announced. Please check back again after some time.
Allied Engineering Works IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Allied Engineering Works IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Allied Engineering Works IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Allied Engineering Works IPO allotment status.
The Allied Engineering Works IPO listing date is not yet announced. The tentative date of listing is .
