Advanced Sys-Tek Files Draft IPO Papers with Sebi to Raise Funds
Varahi media.com online news, February 11th,2025: Advanced Sys-Tek Ltd has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi), seeking
Varahi media.com online news, February 11th,2025: Advanced Sys-Tek Ltd has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi), seeking approval for an initial public offering (IPO).
The IPO includes a fresh issue worth ₹115 crore and an offer for sale (OFS) of up to 15.27 lakh shares by existing promoters. As part of the OFS, promoters Mukesh R Kapadia and Umed Amarchand Fifadra plan to sell up to 7.64 lakh shares each.
Currently, promoters and promoter group entities collectively hold an 82.57% stake in the company.
The proceeds from the fresh issue will be utilized for capital expenditure, long-term working capital requirements, and general corporate purposes.
Advanced Sys-Tek is a leading player in industrial automation, specializing in large-scale measurement, control, and automation solutions. The company focuses on Industrial Automation Solutions, including advanced automated metering systems for oil and gas terminals and modernization of manual facilities.
As of September 30, 2024, the company has successfully executed over 200 installations across India and international markets.
Inga Ventures and Sowilo Capital Advisors are the book-running lead managers for the IPO.
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