Anand Seamless IPO IPO
Anand Seamless IPO is a BSE SME fixed-price issue of ₹25.52 crore comprising a Fresh Issue of 35,44,000 equity shares. The issue price is ₹72 per share and the lot size is 1,600 shares. The IPO opens on September 22, 2026 and closes on September 24, 2026.
Anand Seamless IPO IPO Details
Anand Seamless IPO is scheduled to open for subscription on September 22, 2026 and close on September 24, 2026. The basis of allotment is expected on September 25, 2026, refunds and share credit are scheduled for September 28, and the shares are proposed to list on September 29, 2026.
Anand Seamless IPO IPO GMP
Anand Seamless IPO GMP is currently reported at ₹0 in available grey-market updates. Based on the issue price of ₹72, this indicates an indicative listing price of ₹72. GMP is unofficial and can change before listing, so it should not be treated as a guaranteed listing price.
Anand Seamless IPO IPO Timeline (Tentative)
Anand Seamless IPO will remain open for subscription from September 22 to September 24, 2026. The basis of allotment is expected to be finalized on September 25, followed by refund initiation and credit of shares on September 28. The proposed listing date is September 29, 2026 on BSE SME.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Tue, Sep 22, 2026 |
| IPO Close Date | Thu, Sep 24, 2026 |
| Basis of Allotment | Fri, Sep 25, 2026 |
| Initiation of Refunds | Mon, Sep 28, 2026 |
| Credit of Shares to Demat | Mon, Sep 28, 2026 |
| Listing Date | Tue, Sep 29, 2026 |
| IPO Opens | September 22, 2026 |
| IPO Closes | September 24, 2026 |
| Basis of Allotment | September 25, 2026 |
| Refund Initiation | September 28, 2026 |
| Credit of Shares to Demat | September 28, 2026 |
| Listing Date | September 29, 2026 |
Anand Seamless IPO IPO Lot Size
The Anand Seamless IPO lot size is 1,600 shares. Individual investors are required to apply for a minimum of 2 lots, or 3,200 shares, resulting in a minimum application amount of ₹2,30,400 at the issue price of ₹72. HNI/NII investors can apply for a minimum of 3 lots, or 4,800 shares.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | 2,30,400 |
| Retail (Max) | 2 | 3,200 | 2,30,400 |
| S-HNI (Min) | 3 | 4,800 | 3,45,600 |
Anand Seamless IPO IPO Reservation
Anand Seamless IPO has reserved 16,83,200 shares for Non-Institutional Investors and 16,83,200 shares for Retail Individual Investors. In addition, 1,77,600 shares are reserved for the Market Maker portion.
Anand Seamless IPO IPO Subscription
Anand Seamless IPO opened for subscription on September 22, 2026. The latest available exchange-linked subscription information has not yet reported category-wise bidding figures.
| Category | Subscription (times) |
|---|---|
| QIB | 0x |
| NII | 0x |
| RII | 0x |
| Total | 0x |
About Anand Seamless IPO
Anand Seamless Limited is a Gujarat-based manufacturer and exporter of seamless tubes, pipes and specialised finned tubes. The company was incorporated in 2005 and operates its manufacturing facilities in the Mehsana district of Gujarat. Its product portfolio includes carbon steel and alloy steel seamless tubes and pipes, heat exchanger tubes, U-bend tubes and different types of finned tubes.
The company's products are used across a wide range of industrial applications, including heat exchangers, petroleum and petrochemical industries, oil and gas refineries, pharmaceuticals, chemicals, thermal and nuclear power plants, boiler manufacturing, textile machinery, railways, transportation and defence-related applications. Its business serves both domestic and international markets.
Anand Seamless has developed integrated manufacturing capabilities covering processes such as cold drawing, heat treatment, cutting, testing and fin welding. The company states that its manufacturing capabilities support consistent product quality and timely delivery. As of March 31, 2026, the company had 81 permanent and 57 contractual employees at Unit I and 19 permanent and 10 contractual employees at Unit II.
The company has proposed using the IPO proceeds for capacity expansion, technological upgradation, cost optimisation and support for its manufacturing facility. A portion of the proceeds will also be used for repayment or prepayment of borrowings and general corporate purposes.
Strengths
- Diversified product portfolio covering seamless tubes, pipes, heat exchanger tubes and specialised finned tubes.
- Products serve multiple industrial sectors, including oil and gas, petrochemicals, power, chemicals, pharmaceuticals, railways and defence.
- Integrated manufacturing capabilities covering production, heat treatment, testing and specialised finning processes.
- Presence in both domestic and international markets, supported by industry certifications and product approvals.
- Revenue and profitability improved substantially in FY2026, with total income rising to ₹56.17 crore and PAT increasing to ₹5.48 crore.
- IPO proceeds are planned for capacity expansion, technology upgrades and debt repayment, which can support manufacturing capacity and financial structure.
Risks to Consider
- The company operates in the competitive tubes and pipes manufacturing industry and faces competition from established domestic and international manufacturers.
- The business is exposed to fluctuations in raw-material prices, particularly steel and other inputs used in manufacturing.
- The company has outstanding borrowings, and part of the IPO proceeds is proposed to be used for repayment or prepayment of debt.
- The company has a relatively concentrated manufacturing base in Gujarat, making operations dependent on the continued functioning of its facilities.
- Industrial demand from sectors such as oil and gas, power, chemicals and engineering can affect order volumes and revenue.
- The IPO is an SME issue and therefore may have different liquidity and trading characteristics compared with Mainboard-listed companies.
Anand Seamless IPO Financials (₹ Cr)
Anand Seamless recorded total income of ₹56.17 crore in FY2026 compared with ₹33.64 crore in FY2025 and ₹37.00 crore in FY2024. PAT stood at ₹5.48 crore in FY2026, compared with ₹2.65 crore in FY2025 and ₹3.36 crore in FY2024.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | 37.00 | 3.36 | 35.55 | 11.40 |
| FY2025 | 33.64 | 2.65 | 52.40 | 14.05 |
| FY2026 | 56.17 | 5.48 | 67.58 | 19.52 |
KPIs & Valuation
Anand Seamless IPO’s key performance indicators and valuation provide useful insights into the company’s financial performance, profitability, and valuation before listing. The analysis covers important metrics such as Earnings Per Share (EPS), Price-to-Earnings (P/E) ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) to help understand the company’s financial position and the pricing of the IPO.
Objects of the Issue
Anand Seamless proposes to utilise the Net Proceeds from the IPO for capacity expansion, technological upgradation, cost optimisation and support for its manufacturing facility. The company also proposes to use part of the proceeds for repayment or prepayment of certain outstanding secured and unsecured borrowings and for general corporate purposes.
- The company proposes to utilise the IPO proceeds for:
- Financing capacity expansion, technological upgradation, cost optimisation and support for the manufacturing facility at Survey No. 944, Ankhol Patiya, Chhatral-Kadi Road, Village Indrad, Mahesana, Kadi, Gujarat.
- Full or part repayment and/or prepayment of certain outstanding secured and unsecured borrowings.
- General corporate purposes.
- The estimated utilisation includes ₹13.20 crore for capacity expansion, technological upgradation, cost optimisation and manufacturing-facility support, ₹5.73 crore for repayment or prepayment of borrowings and ₹3.70 crore for general corporate purposes.
Promoters, Lead Managers & Registrar
Anand Seamless Limited is promoted by Kedar Mayank Choksi, Mayank Bhikhabbhai Choksi and Heta Kedar Choksi. The company operates from its registered office and manufacturing facility in Mehsana, Gujarat. Aftertrade Broking Private Limited is the Book Running Lead Manager and Market Maker for the issue. MUFG Intime India Private Limited is the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | MUFG Intime India Private Limited |
|---|---|
| Phone | +91 810 811 4949 |
| anandseamless.smeipo@in.mpms.mufg.com | |
| Website | https://www.mpms.mufg.com |
Anand Seamless IPO IPO Review
Anand Seamless operates in the manufacturing of seamless tubes, pipes and specialised finned tubes, with its products serving several industrial applications. The company's diversified customer industries provide exposure to sectors such as oil and gas, power, chemicals, pharmaceuticals, transportation and engineering.
The company's financial performance improved in FY2026 after a weaker FY2025. Total income increased from ₹33.64 crore in FY2025 to ₹56.17 crore in FY2026, while PAT increased from ₹2.65 crore to ₹5.48 crore. Total assets also increased to ₹67.58 crore and net worth reached ₹19.52 crore at the end of FY2026.
The IPO is entirely a Fresh Issue, so the funds raised through the issue are available to the company for its stated objectives. The largest allocation is towards capacity expansion, technological upgradation and manufacturing support, while another portion is earmarked for reducing outstanding borrowings.
At ₹72 per share, the issue corresponds to a post-issue P/E of about 15.72x based on the disclosed post-issue earnings calculation. Investors may therefore consider the company's financial performance, debt levels, industrial demand, manufacturing expansion plans and the risks associated with SME-listed securities while evaluating the IPO.
How to Apply
Anand Seamless IPO applications can be made through the applicable ASBA and UPI-supported IPO application facilities provided by brokers and banks. The IPO opens on September 22, 2026 and closes on September 24, 2026.
The minimum individual investor application is 3,200 shares, equivalent to 2 lots, requiring ₹2,30,400 at the issue price of ₹72. HNI/NII applicants can apply from 3 lots, or 4,800 shares.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Anand Seamless IPO.
- Enter the required number of lots.
- Enter your UPI ID and submit the application.
- Check your UPI application mandate after submitting the IPO form.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your linked bank account.
- If shares are allotted, the required amount will be debited and the allotted shares will be credited to your Demat account.
Prospectus & Documents
The company's IPO page provides access to the Prospectus, Draft Prospectus, addendum and other material documents relating to the public issue.
Last updated Sep 22, 2026.