Advanced Sys-Tek Files Draft IPO Papers with Sebi, Seeks to Raise Rs 115 Crore
Bengaluru: Advanced Sys-Tek Ltd has filed draft IPO papers with capital markets regulator Sebi, seeking approval to raise funds through a public issue.
The IPO comprises a fresh issue of Rs 115 crore and an offer for sale (OFS) of up to 15.27 lakh shares by existing promoters. Promoters Mukesh R Kapadia and Umed Amarchand Fifadra plan to divest up to 7.64 lakh shares each.
The company plans to use the IPO proceeds to support capital expenditure, funding long-term working capital requirements, and general corporate purposes. Advanced Sys-Tek is a key player in industrial automation, specializing in large-scale measurement, control, and automation solutions.
Inga Ventures and Sowilo Capital Advisors are the book-running lead managers to the issue.
