ANB Metal Cast Ltd IPOAMCL

The IPO opens on 08 Aug 2025 & closes on 12 Aug 2025.

ANB Metal Cast Limited was originally incorporated on March 7, 2019 under the name 'ANB Metal Cast Private Limited' and the Certificate of Incorporation was issued by Registrar of Companies, Ahmedabad. Thereafter, Company was converted from a Private Limited to Public Limited and the name of the Company was changed to 'ANB Metal Cast Limited' via a fresh Certificate of Incorporation dated August 6, 2024 was issued by the Registrar of Companies, Ahmedabad. The Company specialize in manufacturing a wide range of aluminium extrusion products, including motor bodies, various profiles, round bars, solar profiles, railings and sliding windows etc. These products cater to electronics, automotive, mechanical, solar and architectural etc. industries in India. The owned manufacturing unit is located in Rajkot, Gujarat, dedicated to production of aluminium extrusions and non-ferrous metal alloys. The primary raw material is aluminium-based metal scrap, which Company source from both domestic and international markets. The aluminum extrusions, which it manufacture, are utilized in several applications, such as engineering products like solar panels, automotive parts, electronics (MCB, PCB, chips), architectural products like aluminum doors, kitchen profiles and window frames. In year 2020, the Company purchased aluminium Extrusion Press having capacity of 1400 Tons and 650 Tons. It went for manufacturing more than 2000 products for various industrial purpose in 2023 and implemented an additional capacity of 650 tons in 2024. Company launched the initial public offer of 32,00,000 fresh issue of equity shares of face value of Rs 10 each by raising funds aggregating to Rs 49.92 Crore in August 2025.

ANB Metal Cast Ltd IPO will close on 12 Aug 2025.

<ul><li>Diverse Product Portfolio.</li><li>Ability to provide customized solutions tailored to client specifications.</li><li>Stringent quality control mechanism ensuring standardized product quality.</li><li>Strong knowledge and expertise of Senior management team.</li><li>Strong existing client relationship.</li><li>Prepared to grow and reap benefit of available huge potentials available in aluminum product end-users sectors.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Avnishkumar Dhirajlal Gajera</td> <td>7899990</td> <td>91.49</td> <td>7899990</td> <td>---</td> </tr> <tr> <td>2</td> <td>Sarojben Dhirajlal Gajera</td> <td>10</td> <td>---</td> <td>10</td> <td>---</td> </tr> <tr> <td>3</td> <td>Purviben Avanishbhai Gajera</td> <td>3</td> <td>---</td> <td>3</td> <td>---</td> </tr> </tbody> </table>

<ul><li>A significant portion of its revenue comes from key customers, and losing one or more of them, experiencing a decline in their financial health or business outlook, or facing a reduction in their demand for the company products could negatively impact its business, operating results, financial condition, and cash flows.</li><li>The Company is dependent on few suppliers for purchase of raw materials. Loss of any of these large suppliers may affect its business operations adversely.</li><li>The Company derives a significant portion of revenue from aluminum extrusion products which is used in for sale of Engineering Products, Automobile Products, Electronics & Electrical Products and Solar Products etc. and any reduction in the sale of such products could have an adverse effect on the business, results of operations and financial condition.</li><li>Increases in the prices of raw materials or volatility in the supply and pricing of its raw materials, restrictions on import of raw materials or failures by suppliers to meet their obligations for our operations could adversely affect its business and results of operations.</li><li>Its manufacturing facilities are located in Rajkot, Gujarat which exposes operations to potential risks arising from local and regional factors such as adverse social and political events, weather conditions and natural disasters.</li><li>There have been instances of delayed filings in the past with certain Regulatory Authorities. If the Regulatory Authorities impose any monitory penalties on it or take any punitive actions against the Company in relation to the same, its business, financial condition and results of operations could be adversely affected.</li><li>Reliance on third-party transportation providers for procurement of raw materials and the potential impact of transportation disruption.</li><li>Its export obligations against Export Promotion Capital Goods Scheme may not be met, which may adversely affect the company business.</li><li>Few of our Promoter/Directors have provided personal guarantees for loan facilities obtained by our Company, and any failure or default by our Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as our Promoters/Directors and thereby, impact our business and operations.</li><li>In the past, there have been discrepancies in filings with the Registrar of Companies (RoC) and other non-compliances under the Companies Act, which may result in penalties.</li><li>We have a high total debt equity ratio.</li><li>Our registered office is on rental and we do not own the same. Our registered office is obtained on rent from Mr. Avnishkumar Dhirajlal Gajera, our Promoter. Any non-renewal of rent agreements could adversely impact the operations of our Company.</li><li>We are dependent on our manufacturing unit and any disruption, slowdown or shutdown of our manufacturing units may restrict our operations and adversely affect our business and financial condition.</li><li>Our future expansion may be constrained by the agricultural zoning surrounding our manufacturing unit, which could limit our ability to manage and sustain growth.</li><li>Failure to comply with environmental laws and regulations by us could lead to unforeseen environmental litigation which could impact our business and our future net earnings.</li><li>We may not be able to recruit or retain key management and plant operating personnel, such persons could affect our business and operations.</li><li>We are subject to restrictive covenants under our financing agreements that could limit our flexibility in managing our business or to use bank balance or other assets. Any defaults may adversely affect our cash flows, business, results of operations and financial condition.</li><li>Our management will have broad discretion in how we apply the Net Proceeds, including interim use of the Net Proceeds, and there is no assurance that the objects of the Issue will be achieved within the time frame expected or at all, or that the deployment of the Net Proceeds in the manner intended by us will result in any increase in the value of your investment.</li><li>Our Company operates under certain statutory and regulatory approvals for the operations. Failure to obtain or maintain licenses, registrations, permits and approvals may affect our business and results of operations.</li><li>Our contingent liabilities as stated in our Restated Financial Statements could affect our financial condition.</li><li>We may not be sufficiently protected or insured for certain losses that we may incur or claims that we may face against us.</li><li>Our Company has availed unsecured loans which are repayable on demand. Any demand from lender(s) for repayment of such unsecured loans, may adversely affect our cash flows.</li><li>We do not have long-term agreements/contract with our customers. If a significant number of our customers choose not to place long-term purchase orders with our Company or may choose to terminate our contracts if market price drops drastically, our business, financial condition and results of operations may be adversely affected.</li><li>Our inability to accurately forecast demand for our products and manage our inventory may have an adverse effect on our business, financial condition, results of operations and cash flows.</li><li>Our business operations may be materially & adversely affected by strikes, work stoppages or increased wage demands by our employees or those of our suppliers.</li><li>Failure to successfully implement our business strategies may materially and adversely affect our business, prospects, financial condition and results of operations.</li><li>Any adverse change in regulations governing our products and the products of our customers, may adversely impact our business prospects and results of operations.</li><li>Our lenders have charge over our movable and immovable properties in respect of finance availed by us.</li><li>If we are unable to manage our growth or execute our strategies effectively, our business plan and expansion may not be successful, and our business and prospects may be adversely affected.</li><li>We operate in a highly competitive industry and our failure to compete effectively could have a negative impact on the success of our business and/or impact our margin.</li><li>Our Company had negative operating cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact our business, financial condition and results of operations.</li><li>Our Promoters and Directors have provided personal guarantees for financing facilities availed by our Company and may in the future provide additional guarantees and any failure or default by our Company to repay such facilities in accordance with the terms and conditions of the financing agreements could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as our Promoters and Directors and thereby, adversely impact our business and operations.</li><li>We have in the past entered into related party transactions and may continue to do so in the future.</li><li>The average cost of acquisition of Equity Shares by our Promoter is lower than the face value of Equity Share.</li><li>Promoter and the Promoter Group will jointly continue to retain majority shareholding in our Company after the Issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.</li><li>Our Company has not placed orders of plant & machinery for our proposed object as specified in the Objects of the Offer. Any delay in placing orders, procurement of plant & machinery may delay our implementation schedule and may also lead to increase in price of these plant & machinery and equipment's, further affecting our revenue and profitability.</li><li>Information relating to the installed capacity, actual production and capacity utilization of our assembling and manufacturing facilities included in this Draft Red Herring Prospectus is based on various assumptions and estimates, and future production and capacity may vary.</li><li>Any variation in the utilization of Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.</li><li>We have not made any alternate arrangements in order to meet our capital requirements for the Objects of the Issue.</li><li>Our success depends heavily upon our Promoter, Directors and Key Managerial Personnel for their continuing services, strategic guidance and financial support who are also the natural person in control of our Company.</li><li>There is an excessive dependence on few lenders in respect of loan facilities obtained by our Company.</li><li>Our logo registration "ANB" status is currently under process. Failure to obtain the trademark registration could lead to difficulties in identification or mistaken association if the trademark is not officially registered under our name. This could potentially result in brand confusion, loss of market recognition, and legal challenges regarding the use of our logo.</li><li>Some of Directors, our promoter group individuals and promoter group entities have not filed income Tax Returns for the financial year 2023-2024.</li><li>Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.</li><li>Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.</li><li>Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in our financing arrangements.</li><li>Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by our major shareholders may adversely affect the trading price of our Equity Shares.</li><li>There is no monitoring agency appointed by Our Company to monitor the utilization of the Issue proceeds.</li><li>We encounter competition from both domestic and international markets, and our inability to compete effectively could materially and adversely affect our business and results of operations.</li><li>Subsequent to the listing of the Equity Shares, we may be subject to surveillance measures, such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.</li><li>The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.</li><li>The Issue price of our Equity Shares may not be indicative of the market price of our Equity Shares after the Issue and the market price of our Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.</li><li>Any future issuance of Equity Shares, or convertible securities or other equity linked securities by our Company may dilute your shareholding and any sale of Equity Shares by our Promoter or members of our Promoter Group may adversely affect the trading price of the Equity Shares.</li><li>Fluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect on the value of our Equity Shares, independent of our operating results.</li><li>Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.</li><li>QIB and Non-Institutional Investors are not permitted to withdraw or lower their Application (in terms of quantity of Equity Shares or the Application Amount) at any stage after submitting an Application.</li><li>Its past performance may not be indicative of the company future growth. An inability to effectively manage its growth and expansion may have a material adverse effect on its business prospects and future financial performance.</li><li>The company business operations are dependent on its qualified professionals and skilled workforce. The company has experienced a relatively high employee attrition rate in the past, which may continue or even increase in the future.</li><li>Few of its Promoter/Directors have provided personal guarantees for loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as our Promoters/Directors and thereby, impact its business and operations.</li><li>In the past, there have been discrepancies in filings with the Registrar of Companies (RoC) and other non-compliances under the Companies Act, which may result in penalties.</li><li>The company has a high total debt equity ratio.</li><li>The Company commenced manufacturing operations before obtaining the required factory license, with other necessary licenses acquired progressively after operations had begun. This may expose it to the risk of retrospective penalties, regulatory actions and compliance-related liabilities, if any, which could adversely impact our business, financial position, and reputation.</li><li>The company has in the past entered into related party transactions for purchase of land where its existing manufacturing unit is operational.</li><li>Its registered office is on rental and the company does not own the same. Its registered office is obtained on rent from Avnishkumar Dhirajlal Gajera, its Promoter. Any non-renewal of rent agreements could adversely impact the operations of the Company.</li><li>The company is dependent on its manufacturing unit and any disruption, slowdown or shutdown of the company manufacturing units may restrict its operations and adversely affect the company business and financial condition.</li><li>Its future expansion may be constrained by the agricultural zoning surrounding the company manufacturing unit, which could limit its ability to manage and sustain growth.</li><li>Failures to comply with environmental laws and regulations by us could lead to unforeseen environmental litigation which could impact its business and the company future net earnings.</li><li>The company is subject to restrictive covenants under its financing agreements that could limit the company flexibility in managing its business or to use bank balance or other assets. Any defaults may adversely affect its cash flows, business, results of operations and financial condition.</li><li>Its management will have broad discretion in how the company apply the Net Proceeds, including interim use of the Net Proceeds, and there is no assurance that the objects of the Issue will be achieved within the time frame expected or at all, or that the deployment of the Net Proceeds in the manner intended by it will result in any increase in the value of your investment.</li><li>The Company operates under certain statutory and regulatory approvals for the operations. Failures to obtain or maintain licenses, registrations, permits and approvals may affect its business and results of operations.</li><li>Its contingent liabilities as stated in the company Restated Financial Statements could affect its financial condition.</li><li>The company may not be sufficiently protected or insured for certain losses that its may incur or claims that the company may face against it.</li><li>The Company has availed unsecured loans which are repayable on demand. Any demand from lender(s) for repayment of such unsecured loans, may adversely affect its cash flows.</li><li>The company does not have long-term agreements/contract with its customers. If a significant number of the company customers choose not to place long-term purchase orders with the Company or may choose to terminate its contracts if market price drops drastically, the company business, financial condition and results of operations may be adversely affected.</li><li>Its inability to accurately forecast demand for the company products and manage its inventory may have an adverse effect on the company business, financial condition, results of operations and cash flows.</li><li>Its business operations may be materially & adversely affected by strikes, work stoppages or increased wage demands by the company employees or those of its suppliers.</li><li>The Company has significant power and fuel requirements and any disruption to power or fuel sources could increase production costs and adversely affect business, financial condition, cash flows and results of operations.</li><li>The Company has substantial capital expenditure and working capital requirements and may require additional capital and financing in the future and operations could be curtailed if the Company are unable to obtain the required additional capital and financing when needed.</li><li>Funding requirements and proposed deployment of the Net Proceeds of the Issue have not been appraised by a bank or a financial institution and if there are any delays or cost overruns, business, cash flows, financial condition and results of operations may be adversely affected.</li><li>The Company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact business, financial condition, cash flows and results of operations.</li><li>Fraud, theft, employee negligence or similar incidents may adversely affect results of operations and cash flows.</li><li>Technology failures could disrupt operations and adversely affect business operations and financial performance.</li><li>The Company may undertake acquisitions, investments, joint ventures or other strategic alliances, which may have a material adverse effect on ability to manage business, and such undertakings may be unsuccessful.</li><li>Any significant delay in receiving plant, equipment and machinery purchased from outside India could impact business, operations, cash flows and financial conditions.</li><li>Uncertain and lengthy vendor selection process may have an adverse impact on business, cash flows, financial conditions and results of operations.</li><li>Promoters and Directors hold Equity Shares in Company and are therefore interested in Company's performance in addition to their remuneration and reimbursement of expenses.</li><li>Ability to access capital at attractive costs depends on credit ratings. Non-availability of credit ratings or a poor rating may restrict access to capital and thereby adversely affect business, financial conditions, cash flows and results of operations.</li><li>Most of Directors do not have any prior experience of being a director in any other listed company in India.</li><li>Inability to collect receivables from customers or default in payment by them could result in the reduction of profits and affect cash flows.</li><li>The Company may not be able to identify or effectively respond to evolving preferences, expectations or trends in a timely manner and a failure to derive the desired benefits from product development efforts may impact competitiveness and profitability.</li><li>Safety protocols and programs are developed, implemented and improved. A significant disruption at our manufacturing facilities may adversely affect production schedules, costs, sales and ability to meet customer demand.</li><li>If the Company is unable to establish and maintain an effective system of internal controls and compliances business and reputation could be adversely affected.</li><li>The Company may require additional equity or debt in the future in order to continue to grow business, which may not be available on favorable terms or at all.</li><li>Failures to successfully implement the company business strategies may materially and adversely affect its business, prospects, financial condition and results of operations.</li><li>Any adverse change in regulations governing its products and the products of the company customers, may adversely impact its business prospects and results of operations.</li><li>Its lenders have charge over the company movable and immovable properties in respect of finance availed by it.</li><li>If the company is unable to manage its growth or execute the company strategies effectively, its business plan and expansion may not be successful, and its business and prospects may be adversely affected.</li><li>The company operates in a highly competitive industry and its failures to compete effectively could have a negative impact on the success of its business and/or impact our margin.</li><li>The Company had negative operating cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.</li><li>The company has in the past entered into related party transactions and may continue to do so in the future.</li><li>The average cost of acquisition of Equity Shares by its Promoter is lower than the Issue Price.</li><li>Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company after the Issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.</li><li>The Company has not placed orders of plant & machinery for its proposed object as specified in the Objects of the Issue. Any delay in placing orders, procurement of plant & machinery may delay its implementation schedule and may also lead to increase in price of these plant & machinery and equipment's, further affecting the company revenue and profitability.</li><li>Information relating to the installed capacity, actual production and capacity utilization of its assembling and manufacturing facilities included in this Red Herring Prospectus is based on various assumptions and estimates, and future production and capacity may vary.</li><li>Any variation in the utilization of Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.</li><li>The company has not made any alternate arrangements in order to meet its capital requirements for the Objects of the Issue.</li><li>Its success depends heavily upon the company Promoter, Directors and Key Managerial Personnel for their continuing services, strategic guidance and financial support who are also the natural person in control of the Company.</li><li>There is an excessive dependence on few lenders in respect of loan facilities obtained by the Company.</li><li>Its logo registration ANB status is currently under process. Failures to obtain the trademark registration could lead to difficulties in identification or mistaken association if the trademark is not officially registered under its name. This could potentially result in brand confusion, loss of market recognition, and legal challenges regarding the use of its logo.</li><li>Some of Directors, its promoter group individuals and promoter group entities have not filed income Tax Returns for the financial year 2023-2024.</li><li>Certain data mentioned in this Red Herring Prospectus has not been independently verified.</li><li>The requirements of being a public listed company may strain our resources and impose additional requirements.</li><li>Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.</li><li>Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of the company Equity Shares.</li><li>The company encounter competition from both domestic and international markets, and its inability to compete effectively could materially and adversely affect the company business and results of operations.</li><li>Subsequent to the listing of the Equity Shares, its may be subject to surveillance measures, such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.</li><li>The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.</li><li>The Issue price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.</li><li>Any future issuance of Equity Shares, or convertible securities or other equity linked securities by our Company may dilute your shareholding and any sale of Equity Shares by its Promoter or members of the company Promoter Group may adversely affect the trading price of the Equity Shares.</li><li>Fluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect on the value of its Equity Shares, independent of the company operating results.</li><li>Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.</li><li>QIB and Non-Institutional Investors are not permitted to withdraw or lower their Application (in terms of quantity of Equity Shares or the Application Amount) at any stage after submitting an Application.</li></ul>

The Issue type of ANB Metal Cast Ltd is Book Building - SME.

The minimum application for shares of ANB Metal Cast Ltd is 1600.

The total shares issue of ANB Metal Cast Ltd is 3200000.

Initial public issue of upto 32,00,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of ANB Metal Cast Limited ("ANB" or "the Company" or "the Issuer") for cash at a price of Rs. 156/- per equity share including a share premium of Rs. 146/- per equity share (the "Issue Price") aggregating to Rs. 49.92 crores ("the Issue"), of which 2,00,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 156/- per equity share including a share premium of Rs. 146/- per equity share aggregating to Rs. 3.12 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 30,00,000 equity shares of face value of Rs. 10/- each at a price of Rs. 156/- per equity share including a share premium of Rs. 146/- per equity share aggregating to Rs. 46.80 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 27.04 % and 25.35 % respectively of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each.