- POSITIVE
Annual Revenue Anand Seamless Mar-2026 Annual Revenue is Rs 56 Cr which is growth of 67.0% YoY.
- POSITIVE
Annual Net Profit Anand Seamless Mar-2026 Annual Net Profit is Rs 5 Cr which is growth of 106.7% YoY.
Anand Seamless was incorporated on November 25, 2005. The company is an India-based manufacturer and exporter of tubes and pipes with nearly two decades of industry experience, offering seamless tubes and pipes and finned tubes. Its products serve diverse industries including automobiles, heat exchangers, oil & gas, pharmaceuticals, chemicals, power plants, boilers, railways, transportation and defence
| Bidding Dates |
|---|
| 22 Sep 2026 - 24 Sep 2026 |
| Subscription |
|---|
| 1.44x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹230,400 | 2 | 2 | 1600 | 3.5 M | ₹72 | 70.39 % | ₹255.2 M | RHP DOC |
Anand Seamless IPO SUBSCRIPTION STATUS
24 Sep '26Total1.44x
Retail Individual Investor0.93x
HNI (NII) Investors1.96x
Qualified Institutional Buyers-
Anand Seamless IPO overall subscription rate was 1.44 times the total available shares
Anand Seamless IPO retail subscription rate was 0.93 times in the retail segment
Anand Seamless IPO non-institutional investor subscription rate was 1.96 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
24 Sep 2026 (Day 3) | 0.93x | 1.96x | - |
23 Sep 2026 (Day 2) | 0.34x | 1.16x | - |
22 Sep 2026 (Day 1) | 0.03x | 1.08x | - |
Anand Seamless FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 56.0 | 5.5 | -5.6 | -5.8 | 18.3% |
| FY25 | 33.5 | 2.7 | -3.3 | -4.4 | 17.6% |
| FY24 | 36.9 | 3.4 | 1.5 | 0.3 | 17.7% |
Anand Seamless IPO SUBSCRIPTION STATUS DETAILS
Anand Seamless had 3.5 M shares on offer
Anand Seamless IPO offer price was ₹72
Anand Seamless IPO minimum Investment was ₹230400
Anand Seamless IPO issue size was ₹ 255.2 M
Anand Seamless had a minimum lot size of 1600 Shares per application
Anand Seamless NUMBER OF SHARES ON OFFER
Total3.5 M
Fresh Issue3.5 M
Offer for Sale0
Post Issue Promoter Holding %70.39 %
Anand Seamless IPO IMPORTANT DATES
| Issue Open Date | 22 Sep 2026 |
| Issue close Date | 24 Sep 2026 |
| Allotment Date | 25 Sep 2026 |
| Refund Date | 28 Sep 2026 |
| Demat Account Credit Date | 28 Sep 2026 |
| Listing Date | 29 Sep 2026 |
| Listing on Exchange(s) | BSE |
| Anand Seamless Allotment Status | Exchange/ Registrar |
Anand Seamless IPO subscription opened on 22 Sep 2026, and closed on 24 Sep 2026
IPO allotment for Anand Seamless was finalized on Friday, 25 Sep 2026
IPO listing for Anand Seamless was on BSE on Tuesday, 29 Sep 2026
Anand Seamless IPO LISTING GAINS
| Issue Price (adjusted) | 72.0 |
| Listing Open Price | 72.1 |
| Listing Close Price | 72.1 |
| Listing Gain% | 0.1% |
| Current Gain% | -8.3% |
Anand Seamless Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Anand Seamless Ltd. | 66 | 79 | 14.4 | 0.1 | 1.4 | 28 | 8.1 | 56.2 | 67 | 5.5 | 106.7 | 4.6 | 106.7 |
| JSW Steel Ltd. | 1185.5 | 289908.6 | 10.2 | 0 | 1.5 | 22.3 | 8.3 | 186718 | 10.1 | 22316 | 536.9 | 116.3 | 371.9 |
| Tata Steel Ltd. | 167.7 | 209311.4 | 19 | 0.1 | 0.9 | 10.6 | 3.6 | 233541.7 | 6.1 | 10793.9 | 215.6 | 8.8 | 143.1 |
| Jindal Steel Ltd. | 1015.9 | 103630.8 | 36.3 | 9 | 1.7 | 6.6 | 3.4 | 53553.1 | 7.3 | 3367.4 | 19.7 | 28 | 4.1 |
| Steel Authority of India (SAIL) Ltd. | 164.3 | 67881.1 | 15.9 | 0.4 | 0.6 | 5.6 | 2.5 | 111705 | 8.1 | 3372.8 | 42.2 | 10.3 | 40.8 |
| Jindal Stainless Ltd. | 687.4 | 56670.6 | 17 | 0.8 | 1.2 | 16.1 | 7.8 | 43306.1 | 9.4 | 3193.4 | 27.5 | 40.5 | 20.6 |
Annual
Balance Sheet
Ratios
Cash Flow
Anand Seamless annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Base Level
Export
| Indicator | Graph | Mar '26 | Mar '25 | Mar '24 |
|---|---|---|---|---|
| 56.2 | 33.6 | 37 | ||
Operating Exp. Ann. | 45.8 | 27.7 | 30.4 | |
Operating Profit Ann. | 10.2 | 5.9 | 6.5 | |
OPM Ann. % | 18.19% | 17.53% | 17.61% | |
| 48.7 | 30.1 | 32.5 | ||
EBITDA Ann. | 10.4 | 6 | 6.6 | |
EBITDA Ann. margin % | 18.50% | 17.81% | 17.88% | |
Interest Ann. | 2.4 | 1.9 | 1.6 | |
Depr. | 0.5 | 0.5 | 0.5 | |
PBT Ann. | 7.4 | 3.6 | 4.6 | |
Tax Ann. | 2 | 0.9 | 1.2 | |
| 5.5 | 2.7 | 3.4 | ||
Net Profit Ann. | 5.5 | 2.7 | 3.4 | |
NPM Ann. % | 9.78% | 7.90% | 9.11% | |
EPS Adj. latest Ann. | 4.6 | 2.2 | 2.8 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
67.3%
2Y CAGR
23.2%
Net Profit Ann.
1Y CHG
103.7%
2Y CAGR
27.2%
Operating Exp. Ann.
1Y CHG
65.3%
2Y CAGR
22.7%
Anand Seamless INFORMATION ON IPO ISSUE
About Anand Seamless
Anand Seamless was incorporated on November 25, 2005. The company is an India-based manufacturer and exporter of tubes and pipes with nearly two decades of industry experience, offering seamless tubes and pipes and finned tubes. Its products serve diverse industries including automobiles, heat exchangers, oil & gas, pharmaceuticals, chemicals, power plants, boilers, railways, transportation and defence
Object of the Issue
- Financing the cost towards capacity expansion, technological upgradation, cost optimization of the operations and support to the manufacturing facility
- Full or part repayment and/or prepayment of certain outstanding secured and unsecured borrowings availed by the company
- General corporate purposes
Anand Seamless - PROMOTERS
| Name |
|---|
| Kedar Mayank Choksi |
| Heta Kedar Choksi |
Anand Seamless - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Kedar Mayank Choksi | Managing Director & Chairman |
| Heta Kedar Choksi | Whole Time Director |
| Hemal Dhirenbhai Shah | Non-Executive Independent |
| Paula Pankaj Shah | Non-Executive Independent Director |
| Sahil Ramesh Bazari | Non-Executive Independent Director |
Anand Seamless Book Running Lead Manager
Aftertrade Broking Private Limited
mb@aftertrade.in
Anand Seamless Registrar to the Offer
MUFG Intime India Private Limited
anandseamless.smeipo@in.mpms.mufg.com
Anand Seamless Strengths
Diversified product portfolio
The company offers a diversified range of seamless tubes and pipes in carbon, alloy and stainless steel, along with various types of finned tubes and pipes in different specifications and sizes. Its broad product portfolio enables customers to meet multiple requirements from a single supplier while supporting expansion among existing and new customers
Strength
Quality control processes
The company follows multi-level quality control processes covering raw materials, production and finished products, supported by a dedicated Quality Control team. These checks help monitor equipment and material quality, identify production irregularities and maintain consistent product quality from procurement through dispatch
Strength
Diversified client base
The company sells its products in domestic and international markets through end customers, traders, stockists, authorised distributors and marketing representatives. As of March 31, 2026, it exported to markets including Abu Dhabi, Saudi Arabia, Oman and Germany, supported by sole distributors in the Middle East and marketing representatives in Europe to expand its international presence
Strength
Anand Seamless Risks
Competition
The company operates in a competitive steel tubes and pipes industry, facing organised and unorganised players in domestic and international markets, including potential new entrants. Greater competition, pricing pressure, stronger competitor resources or customers shifting to alternative suppliers could reduce market share, margins and adversely affect its business and financial performance
Risk
Logistics & transportation risks
The company depends on third-party logistics providers and transportation by road, air, rail and sea for sourcing raw materials and delivering products. Disruptions, delays, rising fuel costs, accidents, damage in transit or inadequate insurance coverage could increase costs, affect delivery schedules and adversely impact its business, profitability and cash flows
Risk
Operational & utility risks
The company’s manufacturing operations involve risks such as molten metal handling, workplace accidents and occupational hazards, which could result in injuries, property damage, claims or legal liabilities. Its operations also depend on continuous electricity supply, and any prolonged power shortage or outage could disrupt production or temporarily shut down its facilities
Risk
IPO FAQs
The promoters of the company are Kedar Mayank Choksi and Heta Kedar Choksi.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 72.0 - 72.0.
The IPO application opens on Sep 22, 2026 and closes on Sep 24, 2026.
The minimum lot size for the IPO is 3200. The maximum lot size for the IPO is 3200.
For all category investors, the minimum application amount for this IPO is Rs. 230,400.0, the maximum value for this IPO is Rs 230,400.0.
This IPO will be allotted on Sep 25, 2026.
The refund will be credited to your account on Sep 28, 2026.
The allotted shares will be credited to your demat on Sep 28, 2026.
Anand Seamless Ltd.’s shares listed on the stock exchanges on Sep 29, 2026.