The Anubhav Plast IPO has demonstrated exceptional market response on its final day of bidding, achieving 2.1x subscription with strong demand across all investor categories. According to latest data from Moneycontrol, investors bid for 44.97 lakh shares during the three-day bidding period, representing 2.1 times the offer size of 21.52 lakh shares through 910 applications. The retail portion led subscription demand at 2.6x their allotted quota, while the Non-Institutional Investors (NII) portion was subscribed at 2.1x and the Qualified Institutional Buyers (QIBs) portion received bids at 1.23x. This robust subscription indicates strong investor confidence in the steel pipes and tubular poles manufacturing company, with the IPO now successfully closed for subscription.
Kanpur-based Anubhav Plast Ltd launched its initial public offering on Friday, June 19, to raise around ₹24 crore to fund its new manufacturing units and other expansion projects. The ₹24-crore IPO comprises a fresh issue of 30 lakh shares and will close for subscription on June 23 on the BSE SME platform. The company has fixed the price band at ₹77 to ₹80 per share with a face value of ₹10 per share, and shares are trading at a nil grey market premium (GMP), indicating no expected listing gains in the unofficial market. Investors can apply for a minimum of 3,200 shares, requiring an investment of ₹2.56 lakh at the upper end of the price band, while HNI investors need a minimum application of 4,800 shares amounting to ₹3.84 lakh. The lot size comprises 1,600 shares for the public issue. The issue comprised entirely a fresh issue of shares, with ₹6.78 crore already raised through the anchor book involving 8.48 lakh shares allotted on June 18.
The company, incorporated in 1987, manufactures Electric Resistance Welding (ERW) steel pipes and tubes in round and square hollow sections, along with swaged steel tubular poles marketed under the "ANUBHAV" brand. According to the company statement, the IPO is being managed by Capital Square Advisors Pvt Ltd. The company's manufacturing operations focus on these specialized steel products for various industrial applications, including electricity transmission and distribution, telecom infrastructure, construction, irrigation, water supply and engineering sectors. It operates two manufacturing facilities in Kanpur Dehat, Uttar Pradesh, with Unit I focusing on the production of poles while Unit II is equipped to manufacture ERW steel pipes and swaged steel tubular poles. The company currently operates two manufacturing units in Kanpur Dehat, Uttar Pradesh, with Unit I focusing on the production of poles while Unit II is equipped to manufacture ERW steel pipes and swaged steel tubular poles. The company's products cater to sectors such as power transmission and distribution, telecommunications, construction, irrigation, water supply, and engineering, with a significant portion of business coming from government tender-based projects across various states.
Proceeds from the IPO will be strategically utilized for the company's expansion and growth initiatives. As reported by the company, ₹2.2 crore will be used to set up a new manufacturing facility for the production of crash barriers and solar panel structures within the existing manufacturing premises, meeting working capital requirements, and general corporate purposes. The remaining funds will be allocated as follows: ₹13.75 crore for working capital requirements and the balance for general corporate purposes. This expansion strategy aims to diversify their product portfolio and enhance manufacturing capabilities, with the share allotment finalized by June 24 and shares scheduled to list on the BSE SME platform on June 26. The IPO is structured as a book-built issue comprising a fresh issuance of 30 lakh equity shares, aggregating to ₹24 crore, with no offer-for-sale component. Bigshare Services Private Limited has been appointed as the official registrar for the book build issue.
In FY25, the company reported a revenue of ₹98.31 crore and a net profit of ₹6 crore, compared with revenue of ₹87.41 crore and profit of ₹2.08 crore in FY24. According to the company's financial disclosures, this performance demonstrates significant growth in both revenue and profitability. As of December 2025, the company had reported total income of ₹80.60 crore and profit after tax of ₹5.30 crore, showing continued strong financial performance ahead of the public offering. The company's products cater to sectors such as power transmission and distribution, telecommunications, construction, irrigation, water supply, and engineering, with a significant portion of business coming from government tender-based projects across various states. The IPO failed to attract any premium in the grey market, according to market observers.
