Anand Seamless Ltd IPO

Anand Seamless Limited is an Indian manufacturer and exporter of tubes and pipes, with nearly two decades of experience in the industry. The company’s products are broadly classified into seamless tubes and pipes and finned tubes. Its products are used across industries such as automobiles, heat exchangers, petroleum, pharmaceuticals, chemicals, oil and gas refineries, thermal and nuclear power plants, boilers, textile machinery, railways and transportation, and defense. The company serves both domestic and international markets. Its manufacturing facility is located in Gujarat. The company has a manufacturing capacity of approximately 3,000 metric tonnes per annum (MTPA) for seamless pipes and tubes and approximately 360,000 MTPA of finned tubes. Its manufacturing processes include cold drawing, heat treatment, auto cutting, eddy current testing and fin welding. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes:​ Financing the cost of capacity expansion, technological upgradation, cost optimisation of the operations and support at the manufacturing facility at Mahesana, Gujarat — Rs 13.20 crore Full or part repayment and/or prepayment of certain outstanding secured and unsecured borrowings availed by the company — Rs 5.49 crore General corporate purposes — Rs 3.7 crore.;