The Rajkot-based aluminium extrusion manufacturer received a moderate response from investors, with the IPO subscribed 2.22 times overall.
The retail category was subscribed 2.39 times, Qualified Institutional Buyers (QIBs) subscribed 1.04 times, while the Non-Institutional Investors (NII) category was subscribed 4.29 times. The company also raised Rs 14.02 crore from anchor investors ahead of the IPO.
The fresh issue of 32 lakh shares was aimed at funding the expansion of manufacturing facilities, working capital needs, and general corporate purposes. Post issue, the company’s market capitalisation stands at Rs 184.62 crore.
Incorporated in 2019, ANB Metal Cast manufactures a wide range of aluminium extrusion products such as motor bodies, solar profiles, railings, and sliding windows, catering to sectors including electronics, automotive, solar, and architecture.
For FY25, the company reported a revenue of Rs 162.64 crore, up 45% year-on-year, and a profit after tax (PAT) of Rs 10.25 crore, nearly doubling from Rs 5.34 crore in FY24.Despite the company’s strong financial growth, there are concerns over the sustainability of boosted profits. With a flat GMP, listing day movement will be closely watched to gauge investor sentiment.
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