The ₹177.8-crore Anawil Wire & Engineering IPO received exceptional investor response on its first day of bidding, achieving 4.42 times oversubscription with investors bidding for 2.08 crore equity shares worth ₹562 crore against the offer size of 47.1 lakh shares. According to Moneycontrol, the issue opened for subscription on August 3 and will close on August 5, 2026, with share allotment expected to be finalised on August 6. The stock is scheduled to list on the NSE SME platform on August 10, 2026, subject to regulatory approvals. The IPO is priced in the band of ₹257-270 per share, with investors required to bid in lots of 400 shares. Retail investors must apply for a minimum of two lots (800 shares), translating to an investment of ₹2.16 lakh at the upper price band, while HNIs need to apply for three lots (1,200 shares), amounting to ₹3.24 lakh.
Qualified institutional buyers (QIBs) led the subscription drive, subscribing to their reserved portion 7.09 times, while retail investors and non-institutional investors (NIIs) showed robust demand with 4.25 times and 2.79 times subscription respectively. As per Moneycontrol, the issue received strong support through 12,690 applications, demonstrating broad-based investor interest across all investor categories. The IPO comprises a fresh issue of 52.84 lakh equity shares worth ₹142.69 crore and an offer for sale (OFS) of 13 lakh shares aggregating ₹35.12 crore. Promoter Nimish Kumar Rameshchandra Vashi is the sole selling shareholder in the OFS, with the primary objective being debt reduction through ₹115 crore proceeds to repay outstanding borrowings of ₹130.9 crore.
The company successfully raised ₹50.6 crore from 19 anchor investors on July 31, with notable participants including Abakkus Venture Opportunities Fund, Carnelian AIF Category I Trust-Scheme 1, Mint Focussed Growth Fund, Motilal Oswal Finvest, Hem Growth Opportunities Fund, India Max Investment Fund, and Aarth AIF Growth Fund. According to Moneycontrol, shares of Anawil Wire are commanding a premium of around 30 percent in the grey market, indicating strong investor sentiment ahead of the listing. The grey market premium has shown significant improvement from ₹35 on July 29, demonstrating enhanced market confidence in the windmill tower manufacturer.
According to reports from Moneycontrol, Anawil Wire, incorporated in 2021, initially manufactured weldmesh and fabricated boiler accessories and paper machinery parts. In 2023, it shifted its focus to the wind energy sector and now manufactures windmill towers for wind turbine original equipment manufacturers (OEMs) and renewable energy companies. The company operates two manufacturing facilities in Koppal, Karnataka, and Kutch, Gujarat, with a combined annual production capacity of 612 windmill towers. It produced 210 windmill towers in FY26, achieving 48 percent capacity utilisation, compared with 135 towers in FY25. The company manufactures windmill towers through its two facilities, with a primary focus on fabricating towers using heavy and precision steel components customised to meet clients' requirements in the wind energy sector.
As reported by Moneycontrol, the company demonstrated robust financial growth in FY26. Net profit nearly tripled to ₹36.62 crore from ₹12.3 crore in FY25, while revenue rose 82.3 percent to ₹143.3 crore from ₹78.6 crore a year earlier. In FY25, profit had also nearly tripled from FY24, while revenue increased 43.4 percent. The strong financial performance, combined with the company's successful business transformation and expanding wind energy operations, appears to be driving positive market sentiment as evidenced by the ₹80 grey market premium and strong institutional demand across all categories.
