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Anawil Wire and Engineering Ltd IPO
Status: Current
Overview
IPO date
03 Aug 2026 to 05 Aug 2026
Face value
₹ 0 per share
Price
₹ 257 to ₹270 per share
Issue Size
6,585,600 shares
(aggregating up to ₹ 177.81 Cr)
(aggregating up to ₹ 177.81 Cr)
Allotment Date
06 Aug 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Steel
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T&C*
Strengths vs Risks of Anawil Wire and Engineering Ltd
Know the pros & cons
Strengths
- In-house manufacturing facility with a stringent quality control mechanism.
- Order Book.
- Strategically located manufacturing facility resulting in Operational Efficiency.
- Well-positioned to capture growth opportunities.
Risks
- The company has a limited operating history in its current line of business and the company's Promoters does not has prior significant experience in this industry segment.
- Majority of the company's revenue is dependent on single business segment i.e., Tower Division. An inability to anticipate or adapt to evolving upgradation of products or inability to ensure product quality or reduction in the demand of such products may adversely impact its revenue from operations and growth prospects.
- The company's business is subject to seasonal and cyclical variations that could result in fluctuations in the company's results of operations, financial condition and cash flows.
- The company's revenues is concentrated in certain regions of India, and adverse developments in these regions or its inability to expand into new geographic markets may adversely affect the company's business, results of operations, financial condition and cash flows.
- Substantial portion of the company's revenues has been dependent upon few customers, with which the company does not has any firm commitments. The loss of any one or more of its major customers would have a material adverse effect on the company's business, cash flows, results of operations and financial condition.
- One of the company's vendors has used the address of its manufacturing facility as its place of business for GST registration purposes, which may result in regulatory scrutiny or adverse perception.
- The company is primarily dependent upon few key suppliers within limited geographical location for procurement of raw materials. Any disruption in the supply of the raw materials or fluctuations in their prices could have a material adverse effect on its business operations and financial conditions.
- Restated financial statements has been verified and certified by Peer Reviewed Chartered Accountant who is not the Statutory Auditor of the company.
- Under-utilization of the company's manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could have an adverse effect on the company's business, future prospects and future financial performance.
- The company's current order book value is not necessarily indicative of future growth. These orders that constitute its current order book could be cancelled, put in abeyance, delayed, or not paid for by the company's customers, which could adversely affect its financial condition.
- Any adverse revision, suspension, or withdrawal of the company's credit rating by the rating agency may adversely affect its ability to raise debt financing, the terms on which such financing is available, and the company's overall financial flexibility.
- There are outstanding legal proceedings involving the Company, its Directors and the company's Promoters. Any adverse decisions could impact its cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
- There are certain discrepancies/errors noticed in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- The company has incurred indebtedness which exposes it to various risks which may have an effect on its business and results of operations.
- The company is subject to restrictive covenants under its credit facilities that limit the company's operational flexibility.
- The company requires certain approvals, licenses, registrations and permits to operates its business, and failures to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operates the company's business may adversely affect its operations and financial conditions.
- The company's contingent liabilities and commitments could adversely affect its financial condition and results of operations.
- The company's business is working capital intensive and Inventories and trade receivables form a major part of its current assets. Failure to manage the company's inventory and trade receivables could have an adverse effect on its sales, profitability, cash flow and liquidity.
- The company has experienced negative cash flows in the recent past, and its may have negative cash flows in the future.
- Any Penalty or demand raised by statutory authorities in future may adversely affect its financial position of the Company.
- The company does not own registered office from where its carry out the company's business activities. Any dispute in relation to use of the premises could have a material adverse effect on its business and results of operations.
- The Company's logo is not registered as on Red Herring Prospectus. Its may be unable to protect the company's intellectual property against third party infringement or are found to infringe on the intellectual property rights of others, it could have a material adverse effect on its business, result of operations, and financial conditions.
- Excessive dependence on Bank of Baroda in respect of loan facilities obtained by the Company.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company's insurance coverage may not be adequate to protect it against certain operating hazards and this may have a material adverse effect on its business.
- The company's business is dependent on its factory. Any disruption, breakdown or failures of machinery, disruption to power sources or any temporary shutdown of the company's factory, may have a material adverse effect on its business, results of operations, financial condition and cash flows.
- The company's Promoter and Promoter Group members & Group Company has provided personal guarantees for loans availed by the Company. Its business, financial condition, results of operations and cash flows may be adversely affected by the invocation of all or any personal guarantees provided by the company's Promoter and Promoter Group members and Group Company.
- Compliance with labour law, labour shortage, strikes, work stoppages or increased wages demands by the company's employees or any other kind of disputes with its employees could adversely affect the company's business and results of operations.
- The company is subject to strict quality requirements, and is consequently required to incur significant expenses to maintain its service quality. Any failures to comply with such quality standards may lead to cancellation of existing and future orders which may adversely affect the company's reputation, financial conditions, cash flows and results of operations.
- The company could be adversely affected by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The Company does not has any similar and comparable listed peer which is involved in same line of business for comparison of performance and therefore, investors must rely on their own examination of accounting ratios of the Company for the purposes of investment in the Offer.
- Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- Compliance with, and changes in, safety, health and environmental laws and labour regulations may adversely affect the company's business, prospects, financial condition and results of operations.
- If the company is unable to manage its growth effectively or if the company's estimates or assumptions used in developing its strategic plan are inaccurate or the company is unable to execute its strategic plan effectively, the company's business and prospects may be materially and adversely affected.
- Delays or defaults in client payments could affect the company's operations.
- The company's actual results could differ from the estimates and projections used to prepare its financial statements.
- Unsecured loans taken by the company may be recalled at any time.
- The company is heavily dependent on its Promoters and Key Managerial Personnel for the continued success of the company's business through their continuing services and strategic guidance and support.
- Dependence upon transportation services for supply and transportation of the company's products is subject to various uncertainties and risks, and delays in delivery may result in rejection of products by customer.
- Liquidity Risk and Dependence on Market Maker Continuity on the SME Platform of NSE ("NSE EMERGE").
- In addition to normal remuneration, other benefits and reimbursement of expenses some of its promoters are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- Information relating to the company's installed capacities and the historical capacity utilization of its manufacturing facility included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilization may vary.
- The company has in the past entered into related party transactions and may continue to does so in the future.
- Changes in technology may render the company's current technologies obsolete or requires it to undertake substantial capital investments, which could adversely affect its results of operations.
- Adverse publicity regarding the company's products could negatively impact it.
- The company may not be successful in implementing its business strategies.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
- The company's lenders have charge over assets in respect of finance availed by it.
- The Company will not receive any proceeds from the Offer for Sale portion, and the Promoter Selling Shareholder shall be entitled to the Offer Proceeds to the extent of the Equity Shares offered by the Promoter Selling Shareholder in the Offer for Sale.
- None of the company's Directors has prior experience serving on the board of a listed company, which may affect its ability to efficiently discharge certain responsibilities as a listed entity.
- The company has made investment in equity instruments (unquoted) and the company has not made any provision for a decline in the value of its investments.
- The company is subject to the risk of failures of, or a material weakness in, its internal control systems. If the company is unable to establish and maintain an effective system of internal controls and compliances business and reputation could be adversely affected.
- The average cost of acquisition of Equity Shares by the company's Promoter is lower than the faces value of Equity Share.
- The Objects of the Offer for which funds are being raised has not been appraised by any bank or financial institution. Any variation between the estimation and actual expenditure as estimated by the management could result in execution delays or influence the company's profitability adversely.
- The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- Any future issuance of Equity Shares, or convertible securities or other equity linked securities by the company and any sale of Equity Shares by its significant shareholders may dilute your shareholding and adversely affect the trading price of the Equity Shares.
- The company's Promoter and Promoter Group will jointly continue to retain majority shareholding in the company after this Offer which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- The Offer Price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Offer and the market price of the company's Equity Shares may decline below the Offer Price and you may not be able to sell your Equity Shares at or above the Offer Price.
- There is no guarantee that the Equity Shares issued pursuant to the Offer will be listed on the SME Platform of NSE in a timely manner or at all.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- The Company has during the preceding one year from the date of the Red Herring Prospectus have allotted Equity Shares at a price which may be lower than the Offer Price.
- Significant differences exist between Ind AS and other accounting principles, such as Indian GAAP, IFRS and U.S. GAAP, which may be material to investors' assessments of the company's financial condition, result of operations and cash flows.
- Any of the Bidders is not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
How to check the allotment status of Anawil Wire and Engineering Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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Enter details- PAN, Application number or DP client ID
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The IPO opens on 03 Aug 2026 & closes on 05 Aug 2026.
Anawil Wire & Engineering Limited was originally incorporated as a private limited company on January 02, 2021, with the Registrar of Companies, Central Registration Centre. Thereafter, it converted the status into a public limited company and the name of Company was changed to Anawil Wire And Engineering Limited' and a fresh certificate of incorporation was issued by the Central Processing Centre, on March 11, 2025.
Company is engaged in the business of manufacturing of windmill towers, with primary focus on the fabrication of towers from heavy and precision steel components customized to meet the specific requirements in the wind energy sector. These towers are generally fabricated as tubular steel structures consisting of multiple cylindrical sections. The Company operate a manufacturing facility in Koppal, Karnataka, with an annual capacity of 300 towers. It also has capacity to manufacture 25 windmill towers per month at its existing facility and is in process of expanding this facility.
The Company commenced the commercial operations in April 2021, initially focusing on the fabrication of weldmesh and assembly of boiler accessories and paper machinery parts. Building the expertise in steel fabrication, it started manufacturing windmill towers in 2023. Since then, Company has focused on manufacturing of fabrication components for wind turbine towers. The size of the tower depends on turbine model and site requirements, typically 140 meters in height, designed to withstand diverse climatic conditions. Each tower is manufactured in multiple sections commonly five allowing for transportation by road to the project site.
Further, Company also commenced construction of a new manufacturing facility at Kutch, Gujarat to increase the production capacity. The manufacturing facility in Koppal, Karnataka operate an annual capacity of 300 towers. Apart from these, Company primarily use Mild Steel (M.S.) plates to manufacture windmill towers and several other materials are utilized, including shots and grits, paint, welding rods, electric plasma power sources for cutting, oxy-fuel stations, and grinding wheels.
Company is planning the Initial Public Offer of 65,84,000 equity shares of face value Rs 10 each, comprising a fresh issue of 52,84,000 equity shares and the offer for sale of 13,00,000 Equity Shares.
Anawil Wire and Engineering Ltd IPO will close on 05 Aug 2026.
- In-house manufacturing facility with a stringent quality control mechanism.
- Order Book.
- Strategically located manufacturing facility resulting in Operational Efficiency.
- Well-positioned to capture growth opportunities.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Nimish Kumar Rameshchandra Vas | 17424924 | 88.38 | 16124124 | 64.5 |
| 2 | Ayush Nimish Vashi | 95000 | 0.48 | 95000 | 0.38 |
| 3 | Bhavin Navinchandra Desai | 95000 | 0.48 | 95000 | 0.38 |
| 4 | Bijal Nimesh Vashi | 19 | --- | 19 | --- |
| 5 | Vipul Rameshchandra Vashi | 19 | --- | 19 | --- |
- The company has a limited operating history in its current line of business and the company's Promoters does not has prior significant experience in this industry segment.
- Majority of the company's revenue is dependent on single business segment i.e., Tower Division. An inability to anticipate or adapt to evolving upgradation of products or inability to ensure product quality or reduction in the demand of such products may adversely impact its revenue from operations and growth prospects.
- The company's business is subject to seasonal and cyclical variations that could result in fluctuations in the company's results of operations, financial condition and cash flows.
- The company's revenues is concentrated in certain regions of India, and adverse developments in these regions or its inability to expand into new geographic markets may adversely affect the company's business, results of operations, financial condition and cash flows.
- Substantial portion of the company's revenues has been dependent upon few customers, with which the company does not has any firm commitments. The loss of any one or more of its major customers would have a material adverse effect on the company's business, cash flows, results of operations and financial condition.
- One of the company's vendors has used the address of its manufacturing facility as its place of business for GST registration purposes, which may result in regulatory scrutiny or adverse perception.
- The company is primarily dependent upon few key suppliers within limited geographical location for procurement of raw materials. Any disruption in the supply of the raw materials or fluctuations in their prices could have a material adverse effect on its business operations and financial conditions.
- Restated financial statements has been verified and certified by Peer Reviewed Chartered Accountant who is not the Statutory Auditor of the company.
- Under-utilization of the company's manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could have an adverse effect on the company's business, future prospects and future financial performance.
- The company's current order book value is not necessarily indicative of future growth. These orders that constitute its current order book could be cancelled, put in abeyance, delayed, or not paid for by the company's customers, which could adversely affect its financial condition.
- Any adverse revision, suspension, or withdrawal of the company's credit rating by the rating agency may adversely affect its ability to raise debt financing, the terms on which such financing is available, and the company's overall financial flexibility.
- There are outstanding legal proceedings involving the Company, its Directors and the company's Promoters. Any adverse decisions could impact its cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
- There are certain discrepancies/errors noticed in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- The company has incurred indebtedness which exposes it to various risks which may have an effect on its business and results of operations.
- The company is subject to restrictive covenants under its credit facilities that limit the company's operational flexibility.
- The company requires certain approvals, licenses, registrations and permits to operates its business, and failures to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operates the company's business may adversely affect its operations and financial conditions.
- The company's contingent liabilities and commitments could adversely affect its financial condition and results of operations.
- The company's business is working capital intensive and Inventories and trade receivables form a major part of its current assets. Failure to manage the company's inventory and trade receivables could have an adverse effect on its sales, profitability, cash flow and liquidity.
- The company has experienced negative cash flows in the recent past, and its may have negative cash flows in the future.
- Any Penalty or demand raised by statutory authorities in future may adversely affect its financial position of the Company.
- The company does not own registered office from where its carry out the company's business activities. Any dispute in relation to use of the premises could have a material adverse effect on its business and results of operations.
- The Company's logo is not registered as on Red Herring Prospectus. Its may be unable to protect the company's intellectual property against third party infringement or are found to infringe on the intellectual property rights of others, it could have a material adverse effect on its business, result of operations, and financial conditions.
- Excessive dependence on Bank of Baroda in respect of loan facilities obtained by the Company.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company's insurance coverage may not be adequate to protect it against certain operating hazards and this may have a material adverse effect on its business.
- The company's business is dependent on its factory. Any disruption, breakdown or failures of machinery, disruption to power sources or any temporary shutdown of the company's factory, may have a material adverse effect on its business, results of operations, financial condition and cash flows.
- The company's Promoter and Promoter Group members & Group Company has provided personal guarantees for loans availed by the Company. Its business, financial condition, results of operations and cash flows may be adversely affected by the invocation of all or any personal guarantees provided by the company's Promoter and Promoter Group members and Group Company.
- Compliance with labour law, labour shortage, strikes, work stoppages or increased wages demands by the company's employees or any other kind of disputes with its employees could adversely affect the company's business and results of operations.
- The company is subject to strict quality requirements, and is consequently required to incur significant expenses to maintain its service quality. Any failures to comply with such quality standards may lead to cancellation of existing and future orders which may adversely affect the company's reputation, financial conditions, cash flows and results of operations.
- The company could be adversely affected by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The Company does not has any similar and comparable listed peer which is involved in same line of business for comparison of performance and therefore, investors must rely on their own examination of accounting ratios of the Company for the purposes of investment in the Offer.
- Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- Compliance with, and changes in, safety, health and environmental laws and labour regulations may adversely affect the company's business, prospects, financial condition and results of operations.
- If the company is unable to manage its growth effectively or if the company's estimates or assumptions used in developing its strategic plan are inaccurate or the company is unable to execute its strategic plan effectively, the company's business and prospects may be materially and adversely affected.
- Delays or defaults in client payments could affect the company's operations.
- The company's actual results could differ from the estimates and projections used to prepare its financial statements.
- Unsecured loans taken by the company may be recalled at any time.
- The company is heavily dependent on its Promoters and Key Managerial Personnel for the continued success of the company's business through their continuing services and strategic guidance and support.
- Dependence upon transportation services for supply and transportation of the company's products is subject to various uncertainties and risks, and delays in delivery may result in rejection of products by customer.
- Liquidity Risk and Dependence on Market Maker Continuity on the SME Platform of NSE ("NSE EMERGE").
- In addition to normal remuneration, other benefits and reimbursement of expenses some of its promoters are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- Information relating to the company's installed capacities and the historical capacity utilization of its manufacturing facility included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilization may vary.
- The company has in the past entered into related party transactions and may continue to does so in the future.
- Changes in technology may render the company's current technologies obsolete or requires it to undertake substantial capital investments, which could adversely affect its results of operations.
- Adverse publicity regarding the company's products could negatively impact it.
- The company may not be successful in implementing its business strategies.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
- The company's lenders have charge over assets in respect of finance availed by it.
- The Company will not receive any proceeds from the Offer for Sale portion, and the Promoter Selling Shareholder shall be entitled to the Offer Proceeds to the extent of the Equity Shares offered by the Promoter Selling Shareholder in the Offer for Sale.
- None of the company's Directors has prior experience serving on the board of a listed company, which may affect its ability to efficiently discharge certain responsibilities as a listed entity.
- The company has made investment in equity instruments (unquoted) and the company has not made any provision for a decline in the value of its investments.
- The company is subject to the risk of failures of, or a material weakness in, its internal control systems. If the company is unable to establish and maintain an effective system of internal controls and compliances business and reputation could be adversely affected.
- The average cost of acquisition of Equity Shares by the company's Promoter is lower than the faces value of Equity Share.
- The Objects of the Offer for which funds are being raised has not been appraised by any bank or financial institution. Any variation between the estimation and actual expenditure as estimated by the management could result in execution delays or influence the company's profitability adversely.
- The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- Any future issuance of Equity Shares, or convertible securities or other equity linked securities by the company and any sale of Equity Shares by its significant shareholders may dilute your shareholding and adversely affect the trading price of the Equity Shares.
- The company's Promoter and Promoter Group will jointly continue to retain majority shareholding in the company after this Offer which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- The Offer Price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Offer and the market price of the company's Equity Shares may decline below the Offer Price and you may not be able to sell your Equity Shares at or above the Offer Price.
- There is no guarantee that the Equity Shares issued pursuant to the Offer will be listed on the SME Platform of NSE in a timely manner or at all.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- The Company has during the preceding one year from the date of the Red Herring Prospectus have allotted Equity Shares at a price which may be lower than the Offer Price.
- Significant differences exist between Ind AS and other accounting principles, such as Indian GAAP, IFRS and U.S. GAAP, which may be material to investors' assessments of the company's financial condition, result of operations and cash flows.
- Any of the Bidders is not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
The Issue type of Anawil Wire and Engineering Ltd is Book Building - SME.
The minimum application for shares of Anawil Wire and Engineering Ltd is 800.
The total shares issue of Anawil Wire and Engineering Ltd is 6585600.
Initial public offer of up to 65,85,600 equity shares of face value of Rs. 10/- each (the "Equity Shares") of Anawil Wire And Engineering Limited ("the Company" or "AWEL" or "the Issuer") at an offer price of Rs. 257-270 per equity share for cash, aggregating up to Rs. 169.25-177.81 Crores ("Public Offer") comprising of a fresh issue of 52,84,800 equity shares aggregating to Rs. 135.82-142.69 Crores (the "Fresh Issue") and an offer for sale of 13,00,800 equity shares by the promoter selling shareholders ("Offer For Sale") aggregating to Rs. 33.43-35.12 Crores comprising; 13,00,800 equity shares aggregating up to Rs. 33.43-35.12 Crores by Nimish Kumar Rameshchandra Vashi (refferd as "Promoter Selling Shareholder") out of which 3,31,200 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 257-270 per equity share for cash, aggregating Rs. 8.51-8.94 Crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion") . The public offer less market maker reservation portion i.e. Offer of 62,54,400 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 257-270 per equity share for cash, aggregating up to Rs. 160.74-168.87 Crores is herein after referred to as the "Net Offer". The public offer and net offer will constitute 26.34% and 25.02% respectively of the post-offer paid-up equity share capital of the company.
Price Band: Rs. 257 to Rs. 270 per equity share of face value Rs. 10/- each.
The floor price (Rs.257) is 25.7 times the face value of the equity shares and the cap price (Rs.270) is 27.00 times of the face value of the equity shares.
Bids can be made for a minimum of 800 equity shares and in multiples of 400 equity shares thereafter.