Anawil Wire and Engineering, a Gujarat‑based manufacturer of windmill towers, launched its initial public offering on August 3. The issue will close on August 5, giving investors a short window to bid.
On the first day, the IPO was subscribed 4.42 times. Investors placed 12,690 orders for 2.08 crore equity shares, valuing the bid at about ₹562 crore against an offer of 47.1 lakh shares.
Qualified institutional buyers (QIBs) dominated the demand, taking 7.09 times their reserved portion. Retail investors and non‑institutional investors (NIIs) subscribed 4.25 and 2.79 times, respectively.
Market observers noted that shares were trading at a grey‑market premium of roughly 30 percent before the issue closed.
The company has set an upper price band of ₹257‑₹270 per share and aims to raise up to ₹177.8 crore. The IPO includes a fresh issue of 52.84 lakh shares and an offer‑for‑sale of 13 lakh shares by promoter Nimish Kumar Rameshchandra Vashi.
Anawil Wire and Engineering produces windmill towers at two facilities, focusing on heavy and precision steel components tailored to client needs in the wind‑energy sector.
Earlier, on July 31, the company secured ₹50.6 crore from 19 anchor investors, including Abakkus Venture Opportunities Fund, Carnelian AIF, Mint Focussed Growth Fund, Motilal Oswal Finvest, Hem Growth Opportunities Fund, India Max Investment Fund, and Aarth AIF Growth Fund.
The company plans to use ₹115 crore of the net fresh‑issue proceeds to repay debt, which stood at ₹130.9 crore as of May 2026. Remaining funds will support general corporate purposes.
Hem Securities served as the book‑running lead manager for the IPO.