BSE List Price : ₹72.10

Subscription

Category	Times
QIBs	0.0X
HNIs	2.06X
Retail	0.96
Total : 1.52X

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	2	3,200	₹230,400
Retail Maximum	2	3,200	₹230,400
S-HNI Minimum	3	4,800	₹345,600

About the Company

Anand Seamless Limited, established in 2005, is engaged in the manufacturing and export of seamless tubes, pipes and specialised finned tubes. The company serves industries such as oil & gas, petrochemicals, power, pharmaceuticals, chemicals, automobiles, defence, railways and other industrial applications. Its manufacturing operations are based in Gujarat.

Products & Services
• Seamless Tubes & Pipes
• Carbon Steel & Alloy Steel Tubes
• Stainless Steel Tubes
• U-Bend Tubes
• Extruded & Low-Fin Tubes
• G-Fin, L-Type & Welded Fin Tubes
• Crimped & Studded Fin Tubes

Products & Services

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2024	₹37.00	₹32.45	₹3.36	₹35.55
2025	₹33.64	₹30.06	₹2.65	₹52.40
2026	₹56.17	₹48.73	₹5.48	₹67.58

Company Promoter

Kedar Mayank Choksi

Mayank Bhikhabhai Choksi

Heta Kedar Choksi

Know before investing

• • Strengths

  Diversified Product Range: Manufactures seamless tubes, pipes, heat exchanger tubes, U-bend tubes and multiple types of finned tubes.

  Industry Diversification: Products cater to oil & gas, petrochemicals, power, pharmaceuticals, chemicals, railways, automobiles and other industrial sectors.

  International Accreditations & Approvals: The company has various quality certifications and industry approvals, including ISO 9001:2015, IBR and EIL-related approvals.

  Quality Control: The company highlights extensive quality-control processes across its manufacturing operations.

  Customer Diversification: The company serves a broad range of domestic and international industrial customers rather than being limited to one end-use sector.

  Experienced Team: The company has an experienced management and technical team with industry knowledge.

• • Risks

  Customer Concentration: The top 10 customers contributed 61.62% of revenue in FY25 and 71.71% for the six months ended September 30, 2025. Loss or reduction in orders from key customers could affect revenue.

  Supplier Concentration: Dependence on a limited number of suppliers for raw materials may expose the company to supply disruptions and price fluctuations.

  Raw Material Price Risk: Changes in the prices and availability of steel and other raw materials may affect production costs and margins.

  Industrial Demand Risk: Demand is linked to industries such as oil & gas, power, petrochemicals and other capital-intensive sectors. A slowdown in these industries may affect orders.

  Manufacturing Risk: Any disruption, breakdown or operational issue at the manufacturing facilities could affect production and deliveries.

  Working Capital Requirement: The manufacturing business requires significant working capital for raw materials, inventory and receivables.

Objects of the Issue & Utilisation of proceeds

Capacity Expansion, Technology Upgradation & Cost Optimisation: 13.20 crore

Repayment / Pre-payment of Outstanding Borrowings: 5.73 crore

General Corporate Purposes: 3.70 crore

Issue Expenses: 3.13 crore

Company Address

Anand Seamless Ltd.
Plot No. 129-A
Ankhol Patiya, Chhatral-Kadi Road,
Village Indrad, Mahesana,
Kadi, Gujarat, 382715
Phone: +91 63573 64613
Email: cs@anandseamless.com
Website: https://www.anandseamless.com/

IPO Registrar

MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: anandseamless.smeipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html