Anand Seamless Shares List at ₹72.10 on BSE SME

Anand Seamless shares made their stock market debut on September 29, 2026, listing at ₹72.10 per share on the BSE SME platform, compared with the IPO issue price of ₹72 per share. The listing represented a marginal premium of 0.14% over the issue price.

Following the listing, the stock traded at ₹72.10, remaining at its listing price and 0.14% above the issue price. During the session, Anand Seamless shares touched a high of ₹75 and a low of ₹72.10, with around 10.05 lakh shares changing hands on the BSE, according to the 11:16 AM market snapshot. 

The listing followed the company's IPO, which was open for subscription from September 22 to September 24, 2026. The ₹25.52 crore fixed-price issue was subscribed 1.44 times and was priced at ₹72 per share. 

Anand Seamless manufactures seamless tubes, pipes and finned tubes used across industrial applications. Its product portfolio includes carbon steel and alloy steel seamless tubes, heat exchanger tubes, U-tubes and finned tubes, catering to sectors including oil and gas, petrochemicals, power, pharmaceuticals, chemicals, railways, defence, automobiles and cement. 

Anand Seamless IPO Listing Details

Anand Seamless IPO was a ₹25.52 crore fixed-price SME issue comprising 35.44 lakh equity shares. The entire IPO was a fresh issue, with no offer-for-sale component. 

The IPO opened for subscription on September 22 and closed on September 24, 2026. The issue price was fixed at ₹72 per equity share and the IPO was subscribed 1.44 times overall. 

Anand Seamless shares listed on the BSE SME platform at ₹72.10, representing a marginal 0.14% premium to the ₹72 issue price. At the 11:16 AM snapshot, the shares continued to trade at ₹72.10.

- Issue Price: ₹72 per share
- BSE SME Listing Price: ₹72.10 per share
- Listing Premium: 0.14%
- Trading Price: ₹72.10 per share
- Change From Issue Price: +0.14%
- Intraday High: ₹75
- Intraday Low: ₹72.10
- Overall Subscription: 1.44 times
- Fresh Issue: ₹25.52 crore
- Offer for Sale: Nil
- IPO Open Date: September 22, 2026
- IPO Close Date: September 24, 2026
- Listing Date: September 29, 2026
- Exchange: BSE SME

First-Day Trading Performance

Listing Price: Anand Seamless listed at ₹72.10 per share on BSE SME, marginally above its IPO issue price of ₹72. This translated into a listing premium of approximately 0.14%. 

Post-listing price: At the 11:16 AM market snapshot, Anand Seamless was trading at ₹72.10, unchanged from its listing price and 0.14% above its IPO issue price. 

Intraday high: The shares touched ₹75 during the session, around 4.17% above the ₹72 issue price.

Intraday low: The intraday low stood at ₹72.10, approximately 0.14% above the issue price.

Volume: Around 10.05 lakh shares had changed hands on the BSE at the reported market snapshot. 

Subscription context: Anand Seamless's IPO was open between September 22 and September 24 and was subscribed 1.44 times overall. 

Growth Drivers and Challenges

Growth Drivers

Industrial Product Portfolio: Anand Seamless manufactures carbon steel and alloy steel seamless tubes, heat exchanger tubes, U-tubes and finned tubes, giving it exposure to multiple industrial applications.

Diversified End-User Industries: The company supplies products for industries including oil and gas, petrochemicals, power, pharmaceuticals, chemicals, railways, defence, automobiles and cement. 

Capacity Expansion: A portion of the IPO proceeds has been allocated towards capacity expansion, technological upgrades, cost optimisation and support for the company's manufacturing facility in Gujarat. 

Financial Performance: Total income increased to ₹56.17 crore in FY26 from ₹33.64 crore in FY25, while profit after tax increased to ₹5.48 crore from ₹2.65 crore. EBITDA rose to ₹10.22 crore from ₹5.90 crore over the same period.

Challenges

Raw Material Exposure: Seamless tube and pipe manufacturing requires substantial raw-material inputs, making operating costs sensitive to changes in input prices.

Working Capital Requirements: Manufacturing operations and servicing industrial customers can require significant working capital for inventory and receivables.

Industrial Demand: Demand for the company's products is linked to capital expenditure and activity levels across industries such as oil and gas, power, petrochemicals and engineering.

Expansion Execution: The benefits of the proposed capacity and technology investments will depend on timely implementation and effective utilisation of the expanded capabilities.

Utilisation of IPO Proceeds

The Anand Seamless IPO was entirely a fresh issue of 35.44 lakh shares aggregating to ₹25.52 crore. There was no offer-for-sale component. 
The company plans to deploy the proceeds primarily towards capacity expansion and improvements to its manufacturing operations, repayment or prepayment of certain borrowings and general corporate purposes.
Principal uses include:
- Around ₹13.20 crore towards capacity expansion, technological upgrades, cost optimisation and support for its Gujarat manufacturing facility.
- Around ₹5.49 crore towards repayment or prepayment of certain borrowings.
- Around ₹3.70 crore towards general corporate purposes. 
Promoter and promoter group shareholding stood at 70.39% following the IPO, compared with 100% before the issue. 

Business and IPO Overview

Anand Seamless, incorporated in 2005, manufactures seamless tubes, pipes and finned tubes for industrial applications. Its products include carbon steel and alloy steel seamless tubes, heat exchanger tubes, U-tubes and finned tubes.

The company caters to several industrial sectors, including oil and gas, petrochemicals, power, pharmaceuticals, chemicals, railways, defence, automobiles and cement. Its manufacturing operations are located at Indrad in Gujarat. 

For FY26, Anand Seamless reported total income of ₹56.17 crore compared with ₹33.64 crore in FY25. Profit after tax increased to ₹5.48 crore from ₹2.65 crore, while EBITDA rose to ₹10.22 crore from ₹5.90 crore. 

The company's ₹25.52 crore IPO consisted entirely of a fresh issue and was priced at ₹72 per share. It was open from September 22 to September 24 and received 1.44 times subscription.

Anand Seamless listed on BSE SME at ₹72.10 on September 29. At the reported 11:16 AM snapshot, the stock remained at ₹72.10 after touching an intraday high of ₹75 and low of ₹72.10, with around 10.05 lakh shares traded.