Advanced Sys-Tek Ltd Gears Up for IPO Launch

Advanced Sys-Tek Ltd has filed for an IPO with Sebi to raise Rs 115 crore and facilitate promoter stake sale. The company will use funds for capital and operating expenses. It is a leader in industrial automation, focusing on advanced metering systems and facility modernisation, with 200+ installations globally.

Advanced Sys-Tek Ltd has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to secure approval for its initial public offering (IPO). The company aims to raise Rs 115 crore through this move.

The IPO includes both a fresh issue of shares and an offer for sale (OFS) involving up to 15.27 lakh shares, as indicated by the draft red herring prospectus (DRHP) filed on Friday. Promoters Mukesh R Kapadia and Umed Amarchand Fifadra plan to divest up to 7.64 lakh shares each as part of the OFS.

The company, which holds a significant presence in the industrial automation sector, plans to utilize the funds for capital expenditure, long-term working capital, and general corporate purposes. Specializing in automated metering systems and facility modernisation, Advanced Sys-Tek Ltd has completed over 200 installations worldwide as of September 30, 2024. Inga Ventures and Sowilo Capital Advisors are leading the issue as book-running managers.