Overview of ANB Metals Cast IPO
ANB Metals Cast Limited specialises in manufacturing a wide range of aluminium extrusion products, including motor bodies, various profiles, round bars, solar profiles, railings, and sliding windows. Its products serve multiple industries such as electronics, automotive, mechanical, solar, and architectural sectors.

The company’s mission is to deliver superior quality products and services at optimal costs by focusing on continuous improvement, integrity, and operational excellence.

Founded in 2019 by Mr. Avnishkumar Dhirajlal Gajera, the company benefits from his over a decade of industry experience in aluminium, import-export, and metal casting.

IPO Structure and Key Details
The ANB Metals Cast IPO is a book-built issue worth ₹49.92 crore, consisting entirely of a fresh issue of 32 lakh shares.

• IPO Open Date: August 08, 2025

• IPO Close Date: August 12, 2025

• Price Band: ₹148 to ₹156 per share

• Lot Size: 800 shares

• Minimum Investment (Retail): 2 lots (1,600 shares) = ₹2,49,600

• Listing Platform: NSE SME

• Tentative Listing Date: August 18, 2025

• Allotment Finalisation Date: August 13, 2025

At the upper price band of ₹156, the company’s market capitalisation will be approximately ₹184.62 crore.

Subscription and Grey Market Premium (GMP) Status
As of 11:00 AM on August 11, 2025, the IPO was subscribed 0.40 times on its second day of bidding. The GMP remains at ₹0, suggesting no anticipated listing gains at this stage.

The lack of grey market activity reflects cautious investor sentiment despite the company’s growing financial performance.

Anchor Investors
On August 7, 2025, ANB Metals Cast raised ₹14.01 crore from anchor investors by allotting 8,98,400 shares at ₹156 each. The shares allotted to anchor investors are part of the QIB portion.

Financial Performance Snapshot
The company has shown consistent growth over the last three financial years:

• Revenue from Operations:

  • FY25: ₹16,263.57 lakh

  • FY24: ₹11,215.41 lakh

  • FY23: ₹8,427.56 lakh

• EBITDA:

  • FY25: ₹1,747.44 lakh

  • FY24: ₹1,070.76 lakh

  • FY23: ₹314.76 lakh

• Profit After Tax (PAT):

  • FY25: ₹1,024.71 lakh

  • FY24: ₹533.63 lakh

  • FY23: ₹184.63 lakh

This performance reflects a strong upward trajectory in revenues and profitability.

Valuation Metrics

• Pre-Issue EPS (FY24): ₹12.66

• Post-Issue EPS (FY24): ₹8.66

• Pre-Issue P/E: 12.32x

• Post-Issue P/E: 18.02x

• Industry P/E: 32x

• ROCE (FY24): 24.13%

• ROE (FY24): 45.91%

• RoNW: 45.91%

These figures indicate that the IPO is fairly priced, but may not offer a deep discount to attract speculative gains.

Analyst Recommendations
Given the GMP at zero, the current subscription levels, and fair valuation, market experts advise avoiding the IPO for short-term listing gains. However, investors with a long-term outlook and confidence in the aluminium extrusion industry may consider it.

Role of Intermediaries

• Book Running Lead Manager: Sun Capital Advisory Services Private Limited

• Registrar: KFin Technologies Limited

• Market Maker: Pure Broking Private Limited

Conclusion
While ANB Metals Cast has shown robust growth in revenues and profits, its IPO’s lack of grey market activity and fair pricing make it a cautious bet for immediate gains. Long-term investors focused on industrial manufacturing growth might find value, but short-term traders may prefer to wait for clearer market signals.

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

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The Current active IPO are Star Imaging and Path Lab, Medistep Healthcare, ANB Metal Cast, ConnPlex Cinemas, ALL Time Plastics, JSW Cement, Sawaliya Foods Products.

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