Anawil Wire & Engineering Limited, a pure-play manufacturer of tubular steel windmill towers, opened its Initial Public Offering (IPO) on August 3, 2026. Backed by a robust order book of ₹359.81 crore and strong financial performance, the IPO received an overwhelming response from investors, with the issue being subscribed 6.98 times as of 2:00 PM on the second day of bidding.
India’s installed wind power capacity is currently estimated at around 50 GW, while the Government has set a target of increasing it to 100 GW by 2030. Achieving this goal will require the country’s wind energy capacity to nearly double over the next five years. However, domestic manufacturing capacity for wind energy equipment remains limited to approximately 18 GW per year, with the most significant supply gap existing in windmill tower manufacturing.
Anawil Wire & Engineering operates two ISO-certified manufacturing facilities located in Koppal, Karnataka, and Kutch, Gujarat. Together, these facilities have an annual production capacity of 612 windmill towers. Over the past three years, the company has manufactured 459 towers. The two plants are strategically located in states that together account for nearly 40% of India’s total installed wind power capacity.
As of March 2026, the company had an order book worth ₹359.81 crore, comprising orders for 379 windmill towers. This reflects the confidence that leading global wind turbine manufacturers have in Anawil’s ability to deliver high-quality products on time and at scale. During FY26, the company reported revenue of ₹143.26 crore, an EBITDA margin of 42.64%, and a Return on Net Worth (RoNW) of 40.92%. Its Earnings Per Share (EPS) increased significantly from ₹2.40 in FY24 to ₹19.13 in FY26.
The IPO will close on August 5, 2026. The price band has been fixed at ₹257–270 per share, and the company aims to raise up to ₹177.8 crore through the public issue. The IPO comprises a fresh issue of 52.84 lakh equity shares and an Offer for Sale (OFS) of 13 lakh equity shares by the existing shareholder and promoter, Nimish Kumar Rameshchandra Vashi.
Ahead of the IPO, the company raised ₹50.6 crore from 19 anchor investors on July 31, 2026. The company’s shares will be listed on NSE Emerge, and HEM Securities Limited is acting as the Book Running Lead Manager for the issue.
