Anchor Offshore Services IPO
Anchor Offshore Services Limited has filed a draft red herring prospectus (DRHP) with SEBI for a mainboard IPO, a fresh issue and offer for sale. As of SEBI's report dated 30 October 2026, the draft is under SEBI review. The draft proposes a fresh issue of up to 64,00,000 shares and an offer for sale of up to 6,00,000 shares by promoters Narothamdas Chanillo and Siddesh N Chanillo. In FY26 the company made a profit of ₹8.04 crore on revenue of ₹105.83 crore. The price band, lot size and IPO dates are not announced yet.
- Status
- Under SEBI reviewSEBI report, 30 Oct 2026
- SEBI received draft
- 18 Sep 2026
- Type of issue
- Fresh issue and offer for sale
- Lead manager
- Nirbhay Capital Services Private Limited
- Last SEBI contact
- 14 Oct 2026
- Price band and dates
- Not announced
Where it stands
Anchor Offshore Services IPO: where it stands
SEBI processing status, 30 Oct 2026- Draft filed with SEBI18 Sep 2026
- SEBI reviewUnder SEBI review
- SEBI observations
- RHP and price bandNot yet
- Bidding and listingNot yet
SEBI is examining the draft offer document. This is SEBI's own list of drafts under process.
SEBI received the draft on 18 September 2026, 49 days ago, and its last communication on the draft was on 14 October 2026 (day count is our calculation).
DRHP at a glance
Anchor Offshore Services DRHP at a glance
Draft red herring prospectus, 15 Sep 2026What the company's draft offer document says. Figures can change in the red herring prospectus, and nothing here is a review or a recommendation.
The business
DRHP, Our Business (p. 183 to 184)Anchor Offshore Services is a Mumbai-based engineering projects and services company set up in 1994. It carries out turnkey engineering projects, supplies critical equipment and spare parts, provides installation and overhauling support and supplies specialised manpower. Its customers are mainly in offshore and onshore oil and gas, defence and power, in India and abroad.
Work is done on offshore platforms, drilling rigs, refineries, shipyards, warships and nuclear power stations. As of 30 June 2026 its unexecuted order book was ₹217.24 crore across 57 contracts, 84.40% of it from oil and gas. Its customers include oil and gas PSUs, the Indian navy and PSU shipyards.
Revenue by operations, FY26
- Offshore: 70.81%
- Onshore: 29.19%
The offer
DRHP cover page, The Offer (p. 70) and General Information (p. 89)| Fresh issue | Up to 64,00,000 shares₹ amount set with the price; money goes to the company |
| Offer for sale | Up to 6,00,000 shares3,00,000 each by promoters Narothamdas Chanillo (average cost ₹5.10) and Siddesh N Chanillo (average cost ₹1.24) |
| Shares before the IPO | 1,83,10,948The offer for sale is about 3.3% of them (ours) |
| Pre-IPO placement | None planned |
| Listing | BSE and NSEMainboard, under Regulation 6(2), as it does not meet Regulation 6(1)(b) |
| Lead manager | Nirbhay Capital Services Private Limited |
| Registrar | MUFG Intime India Private Limited |
| Promoters | Narothamdas Chanillo, Sujata N Chanillo and Siddesh N Chanillo |
What the company plans to do with the money
DRHP, Objects of the Offer (p. 117 to 118)| Object | ₹ crore |
|---|---|
| Long-term working capital | 82.50 |
| Repaying or prepaying a borrowing in full | 3.00 |
| General corporate purposes (set later, up to 25% of the gross proceeds) |
Amounts are upper limits from the net proceeds. The fresh issue size in ₹ is set with the price, so each object's share is not shown yet. The offer for sale money goes to the selling promoters, not the company.
Financials
DRHP, Summary of Financial Information (p. 73 to 78) and Basis of Offer Price, KPIs (p. 135 to 137), ₹ crore| ₹ crore | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 117.90 | 139.99 | 105.83 |
| EBITDA | 3.65 | 11.65 | 12.03 |
| EBITDA margin | 3.10% | 8.32% | 11.37% |
| Profit after tax | -6.71 | 12.89 | 8.04 |
| Diluted EPS (₹) | -4.69 | 8.97 | 4.78 |
| Net worth | 78.60 | 91.34 | 128.14 |
| Cash from operations | -16.14 | -3.21 | -15.08 |
| Return on net worth | -8.18% | 15.09% | 7.47% |
| Debt to equity | 0.34 | 0.33 | 0.16 |
Restated consolidated figures. EBITDA includes the share of profit from a joint venture. FY24 was a loss. Net worth is as given in the KPI table.
Listed peers named in the draft
DRHP, Basis of Offer Price (p. 135 to 136). Peer price as of 19 Aug 2026 on NSE.The DRHP names one listed peer. The P/E for Anchor Offshore is not given until the price band is set.
| Company | Diluted EPS (₹) | P/E | RoNW |
|---|---|---|---|
| Anchor Offshore Services (FY26) | 4.78 | Set with the price band | 7.47% |
| Lakshya Powertech | 9.94 | 8.28x | 10.26% |
Risks the draft lists first
DRHP, Risk Factors (p. 21 to 29)- One large customerThe largest customer gave 75.61% of FY26 revenue and the top ten 97.44%. (Risk factor 1, p. 21)
- TendersMuch of the work comes from government tenders, which it may fail to win. (Risk factor 2, p. 23)
- Oil and gasMost revenue comes from oil and gas projects, so a downturn there would hurt. (Risk factor 4, p. 25)
- Turnkey projectsTurnkey engineering projects gave 59.67% of FY26 revenue. (Risk factor 5, p. 26)
- Order bookThe ₹217.24 crore order book may be delayed, cut or cancelled. (Risk factor 6, p. 28)
- No own vesselsIt owns no vessels and depends on customers for vessels, marine assets and logistics. (Risk factor 8, p. 29)
Documents
Anchor Offshore Services DRHP and documents
SEBI filingsThe DRHP has the issue size, use of the money, financials, promoters and risk factors. It can change before the final red herring prospectus.
Questions
Anchor Offshore Services IPO FAQs
When will the Anchor Offshore Services IPO open?
The date is not announced. The company first needs SEBI's observations on its draft, then files a red herring prospectus with the dates. SEBI received the draft 49 days ago (our calculation).
Has SEBI approved the Anchor Offshore Services IPO?
SEBI is examining the draft offer document. This is SEBI's own list of drafts under process. Source: SEBI processing status as on 30 October 2026.
What is the Anchor Offshore Services IPO price band and lot size?
Not announced. The price band is published at least two working days before the IPO opens, and the lot size is set with it. We add both here the day they are filed.
What is the Anchor Offshore Services IPO GMP?
We do not publish a GMP. Grey market premium is unofficial: it is not regulated by SEBI and not published by any exchange. Before the price band is announced there is no issue price to compare it with.
Who is the lead manager of the Anchor Offshore Services IPO?
Nirbhay Capital Services Private Limited is the coordinating book running lead manager named in SEBI's processing status report. The DRHP lists all the lead managers and the registrar.
What will Anchor Offshore Services do with the IPO money?
According to the DRHP, the fresh issue money goes to long-term working capital (₹82.50 crore), repaying or prepaying a borrowing in full (₹3.00 crore), and the rest to general corporate purposes. The offer for sale money goes to the selling shareholders, not the company.
What does Anchor Offshore Services do?
Anchor Offshore Services is a Mumbai-based engineering projects and services company set up in 1994. It carries out turnkey engineering projects, supplies critical equipment and spare parts, provides installation and overhauling support and supplies specialised manpower. Its customers are mainly in offshore and onshore oil and gas, defence and power, in India and abroad.
Where can I read the Anchor Offshore Services DRHP?
On SEBI's website, where the draft red herring prospectus was published on 18 September 2026. The draft is dated 15 September 2026 and runs to 463 pages. It has the issue size, use of the money, financials and risk factors.
Sources: SEBI processing status of draft offer documents as on 30 October 2026, SEBI's yearly processing status archive and SEBI's list of draft offer documents, and the company's DRHP dated 15 September 2026. Day counts and the last date to open are our calculations. This page is information only, not a recommendation.