Advanced Sys-Tek Ltd has submitted preliminary registration papers to the Securities and Exchange Board of India (SEBI) to launch an initial public offering.
The industrial automation solutions provider aims to raise ₹98 crore through the proposed listing.
The company stated that the proceeds from the offering will be utilized to fund business expansion and meet working capital requirements.
This filing marks the first public step in the company's transition to a listed entity, subject to regulatory review and market conditions.
The move adds to a growing pipeline of Indian technology and industrial firms seeking public market access.
Recent activity in the region includes filings from peers such as TMC Transformers, which recently lodged documents for a ₹550 crore IPO, and AirTrunk, which is preparing for a potential listing on the Singapore Exchange.