Advanced Sys-Tek Ltd Files for IPO to Expand Industrial Automation Business

Advanced Sys-Tek Ltd has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The offering comprises a fresh issue at ₹115 per share and an Offer for Sale (OFS) of up to 1.53 million shares by existing promoters and shareholders. The funds raised will be utilised for capital expenditure and long-term working capital needs. Inga Ventures and Sowilo Capital Advisors will act as the book-running lead managers for the IPO.

IPO Structure and Fund Allocation

The IPO includes a fresh issue of shares alongside an Offer for Sale (OFS) by promoters Mukesh R Kapadia and Umed Amarchand Fifadra, each set to divest up to 7.64 lakh shares. The capital raised from the fresh issue will be directed towards expanding operational capacity and strengthening working capital resources. The company aims to enhance its infrastructure and technological capabilities to support future growth.

Company Expertise and Market Presence

With a legacy of over three decades, Advanced Sys-Tek Ltd is a specialist in industrial automation, offering comprehensive measurement and control solutions. The company focuses on Industrial Automation Solutions (IA Solutions), particularly automated metering systems for oil and gas terminals. It has successfully completed more than 200 installations in India and international markets as of 30 September 2024.

Advanced Sys-Tek provides automation solutions for petroleum, oil, and lubricant (POL) storage terminals, including terminal automation (TA) and custody transfer metering of hydrocarbons. Additionally, the company delivers metering skids for precise gas flow measurement in pipelines. It has also executed automation projects for LPG bottling plants and is currently engaged in fuel farm automation at Indian airports.

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