Advanced Sys-Tek files DRHP with SEBI for IPO comprising fresh issue, OFS components

Industrial automation solutions provider Advanced Sys-Tek has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

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, according to the draft red herring prospectus (DRHP) filed on Thursday.

Under the OFS, promoters Umed Amarchand Fifadra and Mukesh R Kapadia, and investors Grishma Mihir Ghelani and Maurya Mihir Ghelani will offload their stake.

The fresh issue proceeds will be used for capital expenditure requirements, long-term working capital needs and general corporate purposes.

"Our company expects to receive the benefits of listing of the equity shares on the stock exchanges and the enhancement of our company’s visibility and brand image and the creation of a public market for our equity shares in India," according to the DRHP.

Half of the net offer will be reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.

Inga Ventures and Sowilo Capital Advisors are the issue's book running lead managers, while MUFG Intime India serves as the registrar.

Shares of the company will be listed on the National Stock Exchange (NSE) and the BSE.

Advanced Sys-Tek offers industrial automation (IA) solutions. It specialises in providing IA solutions for large and complex petroleum, oil and lubricants, petrochemical storage and distribution terminals, including fuel farms; and other industrial automation solutions like liquid and gas fiscal metering systems i.e. metering skids and automation solutions for LPG bottling plants.

It specialises in providing comprehensive automation solutions for terminal automation solutions (TAS) and other industrial applications, including metering skids. As of May 2026, Advanced Sys-Tek has completed installations in more than 200 sites in India and overseas since the company was incorporated.

It also offers anti-icing additive injection systems for specialised aircraft jet fuel.