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Anand Seamless Ltd
SteelIPOSME
₹72 - 72
Anand Seamless Ltd manufactures cold-drawn seamless steel tubes and specialized finned tubes for high-pressure heat transfer equipment, serving power, oil, and process industries through integrated in-house drawing, annealing, and welding lines. The company relies on in-house metallurgical processing to convert standard steel hollows into custom-engineered pressure tubes and enhanced-surface heat exchanger components for industrial project buyers.
Lot1,600Min Invest₹2,30,400Face Value₹10Issue Size₹26 CrFresh Issue₹26 Cr
Timeline
22 Sept
Bidding opens
24 Sept
Bidding closes
25 Sept
Allotment
28 Sept
Refund & demat credit
29 Sept
Listing
Subscription
Subscription opens 22 Sept
Reports
Offer Details
Terms
Issue Size₹26 Cr
Fresh Issue₹26 Cr
Face Value₹10
Lot Size1,600 shares
ReservationNII 50% · RETAIL 50%
Application Sizes
Retail₹2,30,4001-1 lots
sNII₹2,30,400from 2 lots
bNII₹10,36,800from 9 lots
Managers & Registrar
Lead ManagerAftertrade Broking Private Limited
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group100.01%70.4%Public-0.01%29.6%
Objects of the Issue
- Financing the cost towards capacity expansion, technological upgradation, cost optimization of the company operations and support to the manufacturing facility at
- Full or part repayment and/or prepayment of certain outstanding secured and unsecured borrowings availed by the Company
- General corporate purposes
Anchor Book
30-day lock-in24-Oct-202690-day lock-in23-Dec-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 41 | 37 | 34 | 56 |
| Operating ProfitCr | 6 | 7 | 6 | 10 |
| OPM% | 14.1 | 17.6 | 17.6 | 18.3 |
| PBTCr | 4 | 5 | 4 | 7 |
| PATCr | 3 | 3 | 3 | 5 |
| EPS | 3 | 4 | 3 | - |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | - |
| ReservesCr | 8 | 11 | 14 | - |
| BorrowingsCr | 13 | 14 | 21 | - |
| Total AssetsCr | 32 | 36 | 52 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 3 | 2 | -3 | -6 |
| Investing Cash FlowCr | 0 | -1 | -1 | 0 |
| Financing Cash FlowCr | -2 | 0 | 5 | 5 |
| Net Cash FlowCr | 0 | 0 | 1 | -1 |
Strengths & Risks
Strengths · as stated in the DRHP
- Dealing in diversified product range such as Extruded Fin Tubes, Low- Fin Tube, Embedded Fin Tubes (`G' Fin Tube), `L' Type Fin Tubes, Welded Fin Tubes, Crimped Fin Tubes and Studded Fin Tubes having application across multiple industries.
- International accreditations and product approvals over private and government entities.
- Strategic location of manufacturing facility and fully integrated production.
- Established long term relationship with clients leading to recurring business.
- Extensive and effective quality assurance and control with a track record of high quality product delivery.
- Experienced and qualified Promoter and management team.
Strategies · as stated in the DRHP
- Capitalize on industry tailwinds by expanding and upgrading our manufacturing facility.
- Quality Standards.
- Enhancing the internal working system.
- Expanding geographical footprint.
Risks · as stated in the DRHP
- The company's business is dependent on the sale of its products to certain key customers. The loss of any of these customers or loss of revenue from sales to these customers could have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
- The company generates a significant portion of its revenue from certain geographical regions, and any adverse developments in these regions may materially and adversely affect the company's revenue and results of operations.
- The company depends on certain key suppliers for certain raw materials and have not entered into definitive supply agreements with most of the company's suppliers. A failures by its suppliers to meet their obligations may affect the availability and cost of raw materials, which may adversely affect the company's business, results of operations, profitability and margins, cash flows and financial condition. Further volatility in the raw material prices and the company's inability to pass on the increase in cost of raw materials to the customers may impact its results of operations, profitability and margins.
- The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business, results of operations and prospects.
- The company's contingent liabilities as stated in its Restated Financial Statements could affect the company's financial condition.
- The Company and its Promoter are party to certain legal proceeding. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.