Allied Engineering Works IPO

Allied Engineering Works IPO Details

Allied Engineering Works IPO is a 100% book-built issue comprising a fresh issue of ₹400 crore and an offer for sale (OFS) of 75 lakh equity shares, with a face value of ₹5 per share. The company filed its DRHP with SEBI on July 4, 2026.

The price band and official dates of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead manager of this issue is Axis Capital Ltd. and IIFL Capital Services Ltd., while the registrar to the issue is KFin Technologies Ltd.

Allied Engineering Works IPO Date & Timeline

Allied Engineering Works Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on July 4, 2026. However, the specific Allied Engineering Works IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalize the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.

Allied Engineering Works IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Allied Engineering Works IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Allied Engineering Works Ltd. was incorporated in 2011 in Delhi. Over the years, the company has transformed from a manufacturer of power transformers and electrical equipment into a leading provider of comprehensive smart energy meter solutions. This evolution has aligned the company with the national mandate of digitising India's power distribution network. Currently, it is recognised as one of the top players in the domestic smart metering market, leveraging decades of engineering expertise to develop indigenous technology for critical infrastructure.

Operations & Product Range

The primary business of Allied Engineering Works Ltd is the designing, engineering and manufacturing of intelligent energy meters, which offer products that cover a wide variety of applications ranging from residential to industrial uses. The key products offered by the company include intelligent single-phase and three-phase meters, in addition to intelligent DT meters. Apart from manufacturing, the company also provides services to act as the Advanced Metering Infrastructure Services Provider for smart metering projects.

Facilities & Capacity

Most of the manufacturing facilities of Allied Engineering Works Ltd. are located within its plants situated in the Badli Industrial Estate in Delhi. In terms of manufacturing capacity, the firm has achieved 7.29 million meters annually by March 31, 2025 and stands among the top 5 manufacturers in India. The primary purpose is the establishment of a new manufacturing plant in Nauroji Nagar, New Delhi, for additional production lines and equipment.

Brands & Market Presence

Allied Engineering Works Ltd. has developed an impressive reputation in the Indian market for manufacturing smart meters, gaining around 10% market share of all the smart energy meters installed in India, especially establishing itself in the states of Punjab and Uttar Pradesh. The company is known for its certification standards and adherence to international regulations, winning contracts with major private power companies as well as state-owned power distribution companies. Its brand is associated with high-volume manufacturing and rapid deployment capabilities.

Revenue Streams & Business Model

The primary revenue channel of Allied Engineering Works Ltd. is generated through two primary channels: the sale of smart energy meters and the provision of AMISP services. The sale of hardware, including residential and DT meters, remains the largest top-line contributor, while the service-oriented AMISP model provides recurring revenue. The highly integrated business model allows the company to synthesise its own communication modules and software solutions, maintaining cost efficiencies and ensuring technology tailored to the specific challenges of the Indian electrical grid, such as power theft and load management.

Management & Shareholding

Allied Engineering Works Ltd. is promoted by Ashutosh Goel, Nidhi Goel, AEW Infratech Private Limited and the RP Goel Family Trust. Before the IPO, the promoters held a 93.18% portion of the ownership in the company, but after the IPO, the promoters' stakeholding will be diluted as the existing shareholders are selling 75 lakh equity shares.

Board & Key Management

The leadership of Allied Engineering Works Ltd. is led by a team of experts with many years of experience. Ashutosh Goel serves as the Chairman & Managing Director and gives strategic direction to the firm, including the day-to-day operations. To ensure good governance, the board includes Independent Directors Marur Narasimha, Pradeep Kumar Pujari and Neelam Sanghi for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.