Anand Seamless IPO
Anand Seamless IPO is an SME IPO raising ₹26 Cr at a fixed price of ₹72 a share. It listed on 29 Sept 2026 at ₹72, +0.1% against its issue price of ₹72, and trades at ₹65 today (−10.2% since issue). It was subscribed 1.51× in total.
Just covered — bids slightly exceed the shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs72 + OFS by subtraction from exchange total Rs26 Cr. Checked: exchange issue size Rs26 Cr vs derived Rs26 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 16% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Venus Pipes & Tubes Limited | 22.43× | 17.48% | ₹45.65 |
| Gandhi Special Tubes Limited | 15.19× | 22.08% | ₹48.28 |
| Ratnamani Metals & Tubes Limited | 28.69× | 14.89% | ₹77.27 |
| Scoda Tubes Limited | 17.1× | 21.11% | ₹7.6 |
| Anand Seamless Limited | — | 18.87% | ₹3.15 |
| This issue | 22.9× | 18.87% | ₹3.15 |
derived: cut-off price Rs72 / stated EPS Rs3.15 (FY25 (March 31, 2025), Basic & Diluted, restated). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.