Industrial automation solutions provider Advanced Sys-Tek has filed preliminary papers with SEBI to raise funds through an initial public offering. According to the draft red herring prospectus (DRHP) filed on Thursday, the proposed IPO comprises a fresh issue of ₹98 crore and an offer-for-sale (OFS) component of up to 26,00,000 equity shares by existing shareholders. The fresh issue proceeds will be utilized primarily for ₹15.96 crore towards capital expenditure, including setting up a fabrication facility at its Vadodara plant and constructing a new building with related infrastructure such as HVAC, electrical, fire safety and plumbing systems. Additionally, ₹50 crore has been earmarked towards long-term working capital requirements, while the remaining funds will be used for general corporate purposes. The company will also invest in solar rooftop installations and new machinery as part of its expansion plans.
Under the OFS component, promoters Umed Amarchand Fifadra and Mukesh R Kapadia, and investors Grishma Mihir Ghelani and Maurya Mihir Ghelani will offload their stakes. As reported by The Hindu BusinessLine, the company expects to receive benefits from listing on stock exchanges, enhancement of visibility and brand image, and creation of a public market for equity shares in India. The net offer will be reserved with 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors.
According to the DRHP, shares of Advanced Sys-Tek will be listed on both the National Stock Exchange (NSE) and BSE. Inga Ventures and Sowilo Capital Advisors are serving as the issue's book running lead managers, while MUFG Intime India is the registrar. The Gujarat-based company specializes in industrial automation solutions for petroleum, oil and lubricants (POL), petrochemical storage and distribution terminals, including fuel farms, and liquid and gas fiscal metering systems for LPG bottling plants.
As reported by The Hindu BusinessLine, Advanced Sys-Tek offers comprehensive automation solutions including terminal automation solutions (TAS) and metering skids for LPG bottling plants. The company has completed installations in more than 200 sites in India and overseas since its incorporation as of May 2026. Additionally, it provides anti-icing additive injection systems for specialized aircraft jet fuel applications.
