ANB Metals Cast IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

ANB Metals Cast specialize in manufacturing a wide range of aluminium extrusion products, including motor bodies, various profiles, round bars, solar profiles, railings, and sliding windows. The products cater to a diverse array of industries, such as electronics, automotive, mechanical, solar, and architectural sectors. Their objective is to consistently deliver value to their customers by providing superior quality products and services at optimal costs, achieved through continuous improvement, integrity, and excellence in all aspects of the operations.

ANB Metals Cast, an Book Built Issue, amounting to ₹ 49.92 Crores, consisting entirely an Fresh Issue of 32.00 Lakh SharesThe subscription period for the ANB Metals Cast IPO opens on August 08, 2025, and closes on August 12, 2025. The allotment is expected to be finalized on or about Wednesday, August 13, 2025, and the shares will be listed on the NSE SME with a tentative listing date set on or about Monday, August 18, 2025.

The Share Price Band of ANB Metals Cast IPO is set at ₹ 148 to ₹ 156 per equity share. The Market Capitalisation of the ANB Metals Cast at IPO price of ₹ 156 per equity share will be ₹ 184.62 Crores. The lot size of the IPO is 800 shares. Individual investors are required to invest a minimum of 2 lots (1,600 shares), amounting to ₹ 2,49,600.

SUN CAPITAL ADVISORY SERVICES PRIVATE LIMITED is the book running lead manager of the ANB Metals Cast, while KFIN TECHNOLOGIES LIMITED is the registrar for the issue. Pure Broking Private Limited is the Market Maker for ANB Metals Cast IPO.

ANB Metals Cast Limited IPO GMP Today
The Grey Market Premium of ANB Metals Cast IPO is expected to be ₹ 0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

ANB Metals Cast Limited IPO Live Subscription Status Today: Real-Time Update
As of 07:00 PM on 12 August, 2025, the ANB Metals Cast Limited IPO live subscription status shows that the IPO subscribed 1.92 times on its Final Day of subscription period. Check the ANB Metals Cast IPO Live Subscription Status Today at 
NSE.

ANB Metals Cast IPO Anchor Investors Report
ANB Metals Cast has raised ₹ 14.01 Crores from Anchor Investors at a price of ₹ 156 per shares in consultation of the Book Running Lead Managers. The company allocated 8,98,400 equity shares to the Anchor Investors. 
Check Full List of ANB Metals Cast Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion
.

ANB Metals Cast Limited Day Wise IPO GMP Trend

Date

IPO Price

Expected Listing Price

GMP

Last Updated 

05 August 2025 ₹ 156 ₹ 156 ₹ 0 (0.00%) 05:00 PM; 05 August 2025


ANB Metals Cast Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
ANB Metals Cast IPO allotment date is 13 August, 2025, Wednesday. ANB Metals Cast IPO Allotment will be out on 13th August, 2025 and will be live on Registrar Website from the allotment date. 
Check ANB Metals Cast IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select ANB Metals Cast Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of ANB Metals Cast Limited IPO
ANB Metals Cast to utilise the Net Proceeds towards the following objects: 
1. ₹ 1,370.01 Lakh is required for Funding capital expenditure requirements for the proposed expansion in existing manufacturing facilities of the Company by constructing additional floor and installation of additional plant and machineries.
2. ₹ 2,150.00 Lakh is required for Part funding long-term working capital requirement
3. General corporate purposes

Refer to ANB Metals Cast Limited RHP for more details about the Company.

ANB Metals Cast IPO Details

IPO Date August 08, 2025 to August 12, 2025
Listing Date August 18, 2025
Face Value ₹ 10.00
Price ₹ 148 to ₹ 156 per share
Lot Size 800 Equity Shares
Total Issue Size 32,00,000 Equity Shares (aggregating up to ₹ 49.92 Cr)
Fresh Issue 32,00,000 Equity Shares (aggregating up to ₹ 49.92 Cr)
Offer for Sale NA
Issue Type Book Built Issue
Listing At NSE SME
Share holding pre issue 86,34,780
Share holding post issue 1,18,34,780

ANB Metals Cast IPO Lot Size

Application Lots Shares Amount
Retail (Min) 2 1,600 ₹2,49,600
Retail (Max) 2 1,600 ₹2,49,600
S-HNI (Min) 3 2,400 ₹3,74,400
S-HNI (Max) 8 6,400 ₹9,98,400
B-HNI (Min) 9 7,200 ₹11,23,200

ANB Metals Cast IPO Timeline (Tentative Schedule)

IPO Open Date Friday, August 08, 2025
IPO Close Date Tuesday, August 12, 2025
Basis of Allotment Wednesday, August 13, 2025
Initiation of Refunds Thursday, August 14, 2025
Credit of Shares to Demat Thursday, August 14, 2025
Listing Date Monday, August 18, 2025
Cut-off time for UPI mandate confirmation 5 PM on August 12, 2025

ANB Metals Cast IPO Reservation

Investor Category Shares Offered Reservation %
QIB Portion 15,00,000 Not More than 50% of the Net Issue
Non-Institutional Investor Portion 4,50,000 Not Less than 15% of the Net Issue
Retail Shares Offered 10,50,000 Not Less than 35% of the Net Issue
Market Maker Portion 2,00,000 -

ANB Metals Cast IPO Promoter Holding

Share Holding Pre Issue 91.49 %
Share Holding Post Issue 66.75

ANB Metals Cast IPO Subscription Status

Investor Category Shares Offered Shares Bid For No oF Times Subscribed
Qualified Institutional Buyers (QIB) 6,01,600 6,24,800 1.04
Non Institutional Investors(NIIS) 6,50,000 12,78,400 1.97
Retail Individual Investors (RIIs) 10,50,000 25,16,800 2.40
Total 23,01,600 44,20,000 1.92

About ANB Metals Cast Limited

BUSINESS OVERVIEW

ANB Metals Cast is engaged in the manufacturing of a wide range of aluminium extrusion products, including motor bodies, profiles, round bars, solar profiles, railings, and sliding windows. These products serve multiple industries such as electronics, automotive, mechanical, solar, and architecture.

The 50,000 sq. ft. manufacturing facility is located in Rajkot, Gujarat, and is dedicated to aluminium extrusions and non-ferrous metal alloys. Products meet major industry specifications and are tailored to specific customer needs, featuring various profiles, finishes, tolerances, and tempers.

The company also produces hardware items, engineering products, kitchen profiles, and customized channels, sections, flat bars, and tubes. Custom-made dies, owned and regularly expanded based on client requirements, enable flexibility in design and production.

Aluminium-based metal scrap is the primary raw material, sourced both domestically and internationally. Applications include solar panel frames, automotive parts, MCBs, PCBs, aluminum doors, and kitchen systems.

A dedicated in-house quality control laboratory ensures strict pre- and post-production checks to meet diverse client expectations. The company emphasizes technological advancement, product quality, and operational excellence to remain competitive.

Certifications held:

  • ISO 9001:2015 – Quality Management System

  • ISO 14001:2015 – Environmental Management System

  • ISO 45001:2018 – Occupational Health & Safety Management System

As on July 15, 2025 the company have the total 23 Employees. The Banker to the company is HDFC Bank Limited.

INDUSTRY ANALYSIS

Indian Aluminum Industry – Market Overview and Growth Outlook

India has emerged as a global powerhouse in the aluminum sector, currently ranking as the third-largest producer and consumer of aluminum worldwide. Despite having the second-largest production capacity, the country imports nearly 58% of its aluminum requirements, even as it exports 2 million tonnes of primary metal. India also imports 1.3 million tonnes of aluminum scrap, highlighting a stark supply-demand disparity within domestic recycling and processing infrastructure.

The industry plays a significant socio-economic role, employing around 8 lakh people directly and indirectly, with direct employment costs amounting to ₹6,000 crore. A unique advantage for India is its fully integrated aluminum operations—from bauxite mining to finished goods—spanning across rural and urban centers.

Production Trends and Mineral Support

India’s aluminum industry growth is supported by robust mining activities. In FY 2023–24, the country produced 275 MMT of iron ore and 450 MMT of limestone, together accounting for 80% of the total MCDR mineral production by value. The Q1 FY 2024–25 figures show continued momentum with iron ore production rising by 9.7% and limestone by 1.8%, reflecting strong demand from steel and cement sectors. In the non-ferrous segment, primary aluminum production grew by 1.2% year-over-year, reaching 10.43 lakh tonnes during April–June 2024.

India is currently the second-largest producer of aluminum, third-largest for lime, and fourth-largest for iron ore globally. These rankings underscore its strategic mineral wealth and the strong upstream ecosystem supporting aluminum production.

Key Drivers of Demand

Aluminum is increasingly vital across sectors such as energy, construction, transportation, packaging, and consumer goods due to its lightweight, corrosion resistance, and recyclability. Its usage is surging in automobiles, particularly as manufacturers focus on lightweight materials to meet fuel efficiency norms and electric vehicle goals. Government schemes such as ‘Make in India’, ‘Housing for All’, ‘Smart Cities’, National Infrastructure Pipeline (₹100 lakh crore), 100% rural electrification, and FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) are all set to boost aluminum consumption significantly.

Although India holds the fifth-largest coal and eighth-largest bauxite reserves globally, bauxite and power together account for 75% of aluminum production costs, making efficient resource utilization a critical factor. With a per capita consumption of just 2.8 kg, compared to the global average of 12 kg and China’s 26 kg, India’s latent demand offers immense growth potential.

Aluminum Consumption & End-Use

Aluminum's primary domestic application is in the Electrical sector (48%), followed by Automobiles & Transport (15%), Construction (13%), and Consumer Durables and Packaging. India's focus on replacing copper with aluminum in power transmission has significantly enhanced demand, with nearly 600 cable and conductor manufacturers operating across the country.

India’s per capita aluminum consumption still trails behind, and to reach the global average of 11 kg, an additional annual consumption of 16 million tonnes is required. This would position India as the second-largest consumer globally.

Aluminum Extrusion and Fabrication

The Indian aluminum extrusion market, currently at 3.73 lakh tonnes annually, is expected to more than double to 8.5 lakh tonnes by 2030, driven by a CAGR of 5%. The sector is dominated by the building and construction industry (over 50%), with electrical and electronics accounting for 15%. Increasing adoption of lightweight components in transportation and industrial equipment is likely to fuel future demand.

Extruded aluminum products are critical for window and door frames, staircase railings, and structural fittings, which are rapidly replacing wood and steel in modern infrastructure due to durability, corrosion resistance, low maintenance, and aesthetic appeal. The use of anodized aluminum in both commercial and residential buildings continues to rise with urbanization.

Die Casting Market Dynamics

India hosts over 400 die-casting companies, including 25 major producers, with significant output potential. Despite producing 1.3 million tonnes of aluminum, only 0.28 million tonnes is used for die casting, indicating significant untapped potential. The Asia-Pacific region, especially India, is becoming a key hub for pressure die-cast automotive components, owing to low labor costs, high domestic demand, and the push for lightweight electric vehicles.

Automotive and Solar Growth Linkages

The Indian automotive industry, contributing 7.1% to GDP, is a critical aluminum consumer, especially as electric vehicles and fuel-efficient designs demand lightweight materials. India’s vision to scale its auto industry to ₹15 lakh crore by 2024, backed by FDI inflows of $33.77 billion, will further boost aluminum demand.

In parallel, India’s solar panel manufacturing capacity is projected to quadruple by 2025. Government initiatives like Basic Customs Duty on imported solar cells, the Green Energy Corridor, and plans for 500 GW of non-fossil fuel electricity by 2030 create significant demand for aluminum components used in solar module frames, structures, and panels.

Medical Equipment and Global Trends

While the medical equipment segment in India is still nascent, it is growing, particularly in the consumables space. As global demand for aluminum components in diagnostic devices and medical infrastructure increases, India has the potential to emerge as a key exporter, leveraging its manufacturing base.

Outlook and Strategic Positioning

India’s aluminum industry is entering a high-growth phase, driven by its rich mineral base, integrated operations, and increasing sectoral linkages. With plans to expand aluminum capacity from 4 MTPA to 12 MTPA by 2030, and aluminum already contributing to 2% of India’s manufacturing GDP, the sector’s strategic importance is undeniable.

The outlook for aluminum extrusion is particularly strong, with mergers, acquisitions, and technology upgrades reshaping the market. Regulatory frameworks around mining and emissions will continue to influence growth, but innovation in alloys and extruding techniques offers ample headroom for expansion.

India’s aluminum industry is not only well-equipped to meet rising domestic demand but also to serve as a global supplier for critical applications in infrastructure, automotive, energy, and defense. The journey from being a mineral-rich country to a value-added aluminum powerhouse is already underway.

BUSINESS STRENGTHS

1. Diverse Product Portfolio
ANB Metals Cast aims to become a one-stop solution for non-ferrous metal products, with a strong emphasis on aluminum extrusions. A broad and customizable product range, backed by an extensive die inventory, enables responsiveness to evolving market demands and minimizes dependency on any single industry.

2. Customization & Flexibility
The company offers tailor-made aluminum profiles in various sizes, shapes, and finishes, catering to specific industry requirements. A large collection of proprietary dies allows continuous expansion of design offerings, enhancing customer satisfaction and market adaptability.

3. Reliable Raw Material Sourcing
Aluminum-based metal scrap, sourced from multiple Indian states and international markets, serves as the primary raw material. Strong supplier relationships ensure a stable and efficient procurement process for both domestic and imported inputs.

4. Optimal Resource Utilization
Operational efficiency is enhanced through process improvements, equipment modernization, and employee skill upgrades. Regular analysis of procurement and execution strategies enables streamlined operations and effective resource deployment.

5. Stringent Quality Control
A dedicated in-house quality lab ensures rigorous pre- and post-production checks, maintaining high standards of durability and precision. The company holds ISO 9001:2015 certification, reflecting adherence to international quality and environmental benchmarks.

BUSINESS STRATEGIES

1. Commitment to Quality Standards
Strategic focus remains on consistently meeting and exceeding quality standards to ensure regulatory compliance and customer satisfaction during expansion.

2. Sustaining Competitive Advantage
Executional capabilities are continuously enhanced to maintain a lead over competitors through operational improvements and product excellence.

3. Driving Cost Efficiency
Operational effectiveness is being optimized to boost production volumes, lower fixed costs, and enhance profit margins through economies of scale and better procurement leverage.

4. Expanding Production Capacity
Plans include increasing monthly aluminum extrusion capacity by 350 MT and adding value-added products to serve new customers and broaden the product portfolio.

BUSINESS RISK FACTORS & CONCERNS

1. Dependence on Aluminum Extrusion Sales
A substantial portion of revenue is generated from aluminum extrusion products used across engineering, automobile, electronics, electrical, and solar sectors. Any decline in demand or sales from these segments may materially affect financial performance. For FY 2023, 2024, and 2025, 100% of operating revenue was derived from product sales amounting to ₹8,427.46 lakhs, ₹11,212.05 lakhs, and ₹16,256.86 lakhs respectively.

2. Geographic Concentration of Manufacturing Operations
All manufacturing activities are concentrated in Rajkot, Gujarat, making operations vulnerable to regional risks such as natural disasters, weather disruptions, socio-political instability, policy shifts, or economic downturns in the region.

3. Reliance on Third-Party Logistics for Raw Materials
Procurement of essential raw materials like aluminium scrap and ingots is highly dependent on third-party transport providers. Any delays, inefficiencies, or disruptions in transportation—whether domestic or international—may negatively impact production timelines and overall operations.

Summary :
ANB Metals Cast faces key risks related to its heavy dependence on aluminum extrusion product sales, geographical concentration of its manufacturing facility in Rajkot, and reliance on third-party logistics for raw material procurement. Any adverse developments in these areas may significantly impact the company’s operations, revenue, and financial stability.

ANB Metals Cast Limited Financial Information (Restated Consolidated)

Amount in (₹ in Lakh)

Period Ended Mar 31, 2025 Mar 31, 2024 Mar 31, 2023
Reserve of Surplus 2,533.49 767.27 237.27
Total Assets 9,805.10 6,357.73 4,402.35
Total Borrowings 3,300.85 3,296.02 1,592.25
Fixed Assets 1,470.95 1,387.96 701.84
Cash 1,316.22 35.30 5.90
Net Borrowing 1,984.63 3,260.72 1,586.35
Revenue 16,263.57 11,215.41 8,427.56
EBITDA 1,747.44 1,070.76 314.76
PAT 1,024.71 533.63 184.63
EPS 12.66 7.12 4.06

Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on 31st Mar, 2025 Data, given in 
RHP.

Key Performance Indicator

KPI Values
EPS Pre IPO (Rs.) ₹ 12.66
EPS Post IPO (Rs.) ₹ 8.66
P/E Pre IPO 12.32
P/E Post IPO 18.02
ROE 45.91 %
ROCE 24.13 %
P/BV 3.72
Debt/Equity 1.01
RoNW 45.91 %

ANB Metals Cast Limited IPO Peer Comparison

Company Name EPS ROCE ROE P/E (x) P/Bv Debt/Equity RoNW (%)
ANB Metals Cast Limited ₹ 8.66 24.13 % 45.91 % 18.02 3.72 1.01 45.91 %
Maan Aluminum Limited ₹ 2.87 10.7 % 9.08 % 39.9 3.53 0.51 9.08 %
Banco Products (India) Limited ₹ 27.4 33.4 % 33.3 % 22.1 6.65 0.44 33.3 %
ANB Metals Cast Limited Contact Details

ANB METAL CAST LIMITED

Riverwave Off. No 9, 8th Floor, Near Lords Pradhyuman, Kalawad Road, Rajkot 360005, Gujarat, India.
Contact Person : Mrs. Juhi Ronak Doshi
Telephone : +91 98255 98259
Email : cs@anbmetalcast.com
Website : 
https://anbmetalcast.com/

ANB Metals Cast IPO Registrar and Lead Manager(s)

Registrar : KFIN TECHNOLOGIES LIMITED
Contact Person : M. Murali Krishna
Telephone : +91 40 6716 2222
Email : anb.ipo@kfintech.com
Website : 
https://www.kfintech.com/

Lead Manager : SUN CAPITAL ADVISORY SERVICES PRIVATE LIMITED
Contact Person : Mr. Ajesh Dalal / Mr. Aqib Sheikh
Telephone : 022 6178 6000
Email : mb@suncapital.co.in
Website : 
https://www.suncapitalservices.co.in/

ANB Metals Cast IPO Review

ANB Metals Cast specialize in manufacturing a wide range of aluminium extrusion products, including motor bodies, various profiles, round bars, solar profiles, railings, and sliding windows. The products cater to a diverse array of industries, such as electronics, automotive, mechanical, solar, and architectural sectors. Their objective is to consistently deliver value to their customers by providing superior quality products and services at optimal costs, achieved through continuous improvement, integrity, and excellence in all aspects of the operations.

The Promoter and Managing Director, Mr. Avnishkumar Dhirajlal Gajera, has over one decade of experience in the aluminum industry, Import Export and Metal Casting. He began his career as a metals trader, gaining insights into the industry's intricacies. His passion for aluminum led him to establish the Company in 2019. His business acumen and hands-on experience have been instrumental in driving our Company’s growth and fostering innovation in the aluminum sector.

The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 16,263.57 Lakh, ₹ 11,215.41 Lakh and ₹ 8,427.56 Lakh. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,747.44 Lakh, ₹ 1,070.76 Lakh and ₹ 314.76 Lakh. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 1,024.71 Lakh, ₹ 533.63 Lakh and ₹ 184.63 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 12.66 and post-issue EPS of ₹ 8.66 for FY24. The pre-issue P/E ratio is 12.32x, while the post-issue P/E ratio is 18.02x against the Industry P/E ratio is 32x. The company's ROCE for FY24 is 24.13%, ROE for FY24 is 45.91% and RoNW is 45.91%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of ANB Metals Cast showing listing gains of 0.00 %.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the ANB Metals Cast Limited IPO for Listing gain.


Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit our website abhayvarn.com

About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.

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