Anawil Wire and Engineering IPO

About Anawil Wire and Engineering IPO

The Anawil Wire and Engineering IPO, an SME IPO, opens on Monday, August 03, 2026 and closes on Wednesday, August 05, 2026. The allotment of shares will take place on Thursday, August 06, 2026. The credit of shares to the demat account will take place on Friday, August 07, 2026. The initiation of refunds will take place on Friday, August 07, 2026. The listing of shares will take place on Monday, August 10, 2026.

The equity shares of the company are proposed to be listed on the NSE SME platform. The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 52,84,800 shares aggregating up to ₹143 crores. The offer for sale portion includes 13,00,800 shares aggregating up to ₹35 crores. The total number of shares and aggregate amount are 65,85,600 shares aggregating up to ₹178 crores.

The Anawil Wire and Engineering IPO's price band is set at ₹257 to ₹270 per share. The lot size for an application is 400 shares. The minimum amount of investment required by a retail investor is ₹2,16,000 (800 shares) (based on upper price).

The company manufactures windmill towers fabricated from heavy and precision steel components for the wind energy sector. It operates two facilities in Koppal, Karnataka and Kutch, Gujarat with a combined annual capacity of 612 towers. Its customers include original equipment manufacturers of wind turbine generators.

Objectives of Anawil Wire and Engineering IPO

The net proceeds of the fresh issue are proposed to be utilised towards the following objects:

• Repayment and/or pre-payment, in full or part, of borrowing availed by The company.
  
• General corporate purpose.
  

Industry Outlook

India ranks fourth globally in installed wind power capacity. Its wind energy sector is led by an indigenous industry and supported by a domestic manufacturing base of roughly 18,000 MW per annum, built through years of steady expansion. Policy support is strong. The Government aims to reach 500 GW of non-fossil fuel capacity by 2030, of which 100 GW is targeted from wind energy.

Installed wind capacity in India stood at about 48,163 MW as of December 31, 2024. Gujarat and Karnataka lead the country, contributing 12,473.78 MW and 6,731.30 MW respectively, together nearly 40% of the national installed base. The Ministry of New and Renewable Energy estimates India's total wind potential at 1,163.9 GW at 150 metres above ground level. Eight windy states account for over 97% of that potential.

The company's plants sit in the two leading states. With facilities in Karnataka and Gujarat, it operates close to the wind turbine manufacturers and project developers driving demand, positioning it to serve orders in these high-potential regions.

About Anawil Wire and Engineering

The company manufactures windmill towers for the wind energy sector. It commenced commercial operations in April 2021, initially fabricating weldmesh and boiler accessories, before shifting into wind energy in 2023. Each tower is a tubular steel structure rolled from heavy steel plates and assembled in multiple sections, typically about 140 metres in height.

Production grew steadily. The company produced 114, 135, and 210 windmill towers in FY24, FY25, and FY26 respectively, taking capacity utilisation to 48.17% in FY26. It runs two manufacturing facilities in Koppal, Karnataka and Kutch, Gujarat, spread across 48.05 acres with a combined annual capacity of 612 towers. The Kutch facility began operations in March 2026.

Strengths of Anawil Wire and Engineering

• Two manufacturing facilities across 48.05 acres in Koppal, Karnataka and Kutch, Gujarat give The company a combined annual capacity of 612 windmill towers.
• An order book of ₹359.82 crores across 379 towers from six customers as of March 31, 2026 provides forward revenue visibility.
• Production rose from 114 towers in FY24 to 210 towers in FY26, lifting capacity utilisation to 48.17%.
• The Koppal and Kutch plants sit within India's two largest wind-capacity states, placing The company close to major turbine manufacturers and developers.
• In house fabrication and stringent testing infrastructure, including ultrasonic flaw detectors and magnetic-particle inspection equipment, support quality control across production.

Risks of Anawil Wire and Engineering

• Tower manufacturing and fabrication generated 94.36% of revenue in FY26, so any slowdown in wind tower demand would directly reduce The company's earnings.
• Karnataka accounted for 93.87% of revenue in FY26, exposing The company to regional disruptions that could sharply cut sales.
• The top five customers contributed 78.75% of FY26 revenue under arrangements without firm long-term commitments, and losing any of them could materially reduce revenue.
• The company relies on a number of suppliers concentrated in a few states without long-term supply contracts, leaving raw-material availability and pricing vulnerable to disruption.
• Total borrowings stood at ₹129.98 crores as of May 31, 2026, and high debt-servicing costs could strain cash flows if earnings weaken.

Peer Comparison

The Red Herring Prospectus states that there are no listed companies in India engaged in a business similar to that of Anawil Wire and Engineering Limited. Accordingly, an industry peer comparison is not available in the RHP, and no peer comparison table has been reproduced here.

Anchor Investor Bidding Date

Friday, July 31, 2026

IPO Registrar and Book Running Lead Managers

Registrar Details
Bigshare Services Private Limited
Phone: 8657578989
Email: ipo@bigshareonline.com

Book Running Lead Manager
Hem Securities Limited

Anawil Wire and Engineering Contact Details
Plot No. 201, Office No-1, Vibrant Business Park G.I.D.C, Vapi,
Valsad, Pardi, Gujarat, India, 396191.
E-mail: cs@anawilvapi.in
Tel No: +91-9054508244

Anawil Wire and Engineering Business Model

The company earns its revenue through the manufacture and sale of windmill towers fabricated from heavy and precision steel components for the wind energy sector. Towers are produced to customer specifications as tubular steel structures assembled in multiple sections.

The company's customers are original equipment manufacturers of wind turbine generators and companies in the renewable energy sector. Revenue is order-driven, supported by an order book that provides visibility on future execution, with production concentrated at its Koppal and Kutch facilities.

Anawil Wire and Engineering Growth Trajectory

Anawil Wire and Engineering Limited's Total Income for FY26 was ₹143.63 crores, whereas in FY25 and FY24 it was ₹79.40 crores and ₹54.08 crores, respectively.

The Profit After Tax for FY26 was ₹36.63 crores, whereas in FY25 and FY24 it was ₹12.31 crores and ₹4.39 crores, respectively.

Their EBITDA for FY26 was ₹61.09 crores, whereas in FY25 and FY24 it was ₹29.98 crores and ₹22.22 crores, respectively.

Anawil Wire and Engineering Market Position

The company operates two manufacturing facilities in Koppal, Karnataka and Kutch, Gujarat, spread across 48.05 acres and connected to major highways serving India's leading wind-energy zones. As of March 31, 2026, its order book stood at ₹359.82 crores across 379 towers from six customers.

As of 31 March 2026, The company's Total Income, Profit After Tax, and EBITDA were ₹143.63 crores, ₹36.63 crores, and ₹61.09 crores, respectively.

How to apply for Anawil Wire and Engineering IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.