# Anchor Offshore Services Limited: IPO analysis > Anchor Offshore Services Limited (CIN U93000MH1994PLC076014) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 64,00,000 shares and an offer for sale of 6 lakh shares. In FY26 it reported revenue of ₹106 Cr (-24.4% on FY25) and a net profit of ₹8.0 Cr. Promoters hold 80.9% before the IPO. Our fact-check of its claims found 3 medium or high concerns across 40 claims checked. - Page: https://ipo.innerkore.com/company/U93000MH1994PLC076014/anchor-offshore-services-limited/ - CIN: U93000MH1994PLC076014 - Last updated: 18 Sep 2026 ## Key facts - **Company:** Anchor Offshore Services Limited - **CIN:** U93000MH1994PLC076014 - **Filing stage:** DRHP - **Latest SEBI filing:** 18 Sep 2026 - **Offer for sale:** 6,00,000 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹106 Cr - **Revenue growth:** -24.4% - **Net profit FY26:** ₹8.0 Cr - **Revenue CAGR FY24 to FY26:** -5.3% - **Promoter holding (pre-IPO):** 80.9% - **Lead managers:** Nirbhay Capital Services Private Limited - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 0 high, 3 medium, 4 low ## Key signals (read from the filing; not investment advice) - **Growth** (concern): -5.3% a year. Sales FY24 to FY26; latest year -24.4%. - **Profitability** (look closer): 7.6% net margin. FY26; operating margin improving. - **Debt** (looks fine): 0.16x equity. ₹20.8 crore borrowed at the end of FY26. - **Profit into cash** (concern): -188% of profit. Operations brought in ₹-15.1 crore against ₹8 crore of profit in FY26. - **One-off income** (concern): 30% of profit. Other and one-off income is 30% of pre-tax profit. - **Where the money goes** (looks fine): 9% for sale. 91% is new shares issued by the company. 4% of the new money repays debt. - **Red flags** (look closer): 3 to review. 40 claims checked: 0 high, 3 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 118 | 140 | 106 | | Sales growth | – | 18.7% | -24.4% | | Operating profit | 2.5 | 9.2 | 11 | | Operating margin | 2.1% | 6.6% | 10.5% | | Net profit | -6.7 | 13 | 8.0 | | Net margin | -5.7% | 9.2% | 7.6% | | Net worth | 79 | 91 | 130 | | Borrowings | 27 | 30 | 21 | | Return on equity | -8.5% | 14.1% | 6.2% | ## Use of proceeds (fresh issue) - Funding long-term working capital requirements of our Company Up to: ₹83 crore - Repayment/pre-payment, in full, of a borrowing availed by our Company Up to: ₹3.0 crore - General Corporate Purposes(1) (2): amount not fixed yet ## Fact-checked claims - **MEDIUM** (LitigationStatus): There are no pending litigations involving the Group Companies that will have a material impact on the Company as of the date of this Draft Red Herring Prospectus.. Search results indicate a past legal issue involving Anchor Offshore Services Ltd. (AOSL) with a firm, specifically mentioning a Bombay High Court ruling against Anchor Offshore Services Ltd. (Anchor Offshore Services Ltd.) in 2016. This suggests there might be past or ongoing litigation that could be relevant to the claim of no pending litigations. - **MEDIUM** (LitigationStatus): A money suit bearing No. 179/2018 was filed by Prescience Techno Private Limited (“PTPL”) against the Company, and the amount involved is not presently quantifiable.. One search result indicates that a case bearing the number 179/2018 was filed by Prescience Techno Private Limited (PTPL) against the company. However, the search results do not provide information on whether the amount involved in this suit is quantifiable or not. - **MEDIUM** (LitigationStatus): The Company has filed three separate statements of claims against Oil & Natural Gas Corporation Limited (“ONGC”) for an aggregate amount of ₹1.11 Crore related to disputes over Operation and Maintenance (O&M) crane contracts, and subsequent arbitration petitions have been filed challenging an arbitral award.. The search results provide references to various legal cases involving ONGC, including a Supreme Court order and a case involving a Section 34 application, which relates to disputes with ONGC. However, the results do not explicitly confirm the specific claim of three separate statements of claims for ₹1.11 Crore related to O&M crane contracts and subsequent arbitration petitions challenging an award. - **LOW** (SubsidiaryPerformance): The main legislation governing activities in relation to securities markets in India is the SEBI Act and related rules, regulations, and notifications.. The search results confirm that Anchor Offshore Services Limited filed a Draft Red Herring Prospectus (DRHP) with SEBI, which relates to securities market activities. However, the search results do not explicitly state that the SEBI Act and related rules are the *only* legislation, only that the company is involved in offshore operations. No direct corroboration or contradiction of the claim itself is provided. - **LOW** (SubsidiaryPerformance): Equan Axima India Private Limited was a significant financial and strategic partner.. The search results indicate that Equans Axima India Private Limited exists and has personnel associated with it, but they do not explicitly confirm or deny the claim that it was a 'significant financial and strategic partner' of Anchor Offshore Services Limited. One result mentions an individual with extensive experience at the company. - **LOW** (LitigationStatus): Petitions bearing Arbitration Petition Nos. 997, 998 and 999 of 2018 were filed before the Hon’ble High Court of Judicature at Bombay challenging an arbitral award dated March 19, 2018.. The search results do not directly confirm or deny the filing of arbitration petitions bearing specific numbers against an award dated March 19, 2018, before the Bombay High Court. However, one result mentions the Bombay High Court and Anchor Offshore Services Ltd in the context of a blacklisting by ONGC, which is related but not a direct match for the claim. - **LOW** (PromoterBackground): Dipti Bhusan P Nayak has over two decades of experience as a mechanical engineer and has worked with Kirloskar Brothers Limited, Tecnimont ICB, Reliance Engineering Associates (P) Limited and Worley India Private Limited.. The search results confirm that Kirloskar Brothers Limited (KBL) is involved in various disputes and regulatory issues, including fighting with SEBI and demanding disclosures, which is relevant to the claim about individuals working with Kirloskar Brothers. However, the results do not explicitly confirm the specific experience of Dipti Bhusan P Nayak with the listed entities. - **NONE** (LitigationStatus): An execution application was filed by Ms. Alisha Lambay (“Applicant”) against Sai Hospitality, a proprietary concern of Mr. Aditya Suneel Mookul Marathur, seeking execution of an arbitral award dated August 10, 2024, which directed payment of ₹2.79 Crore plus interest.. The provided search results do not contain any information corroborating or contradicting the specific claim regarding an execution application filed by Ms. Alisha Lambay against Sai Hospitality seeking payment of ₹2.79 Crore plus interest. The results primarily point to the DRHP filing status, past legal actions involving the company, and financial performance data. - **NONE** (PromoterBackground): Laxmi N Jain was appointed as Chief Financial Officer on January 10, 2026.. The provided search results do not contain any information regarding the appointment of Laxmi N Jain as Chief Financial Officer on January 10, 2026. Therefore, the search results do not corroborate, contradict, or update the claim. - **NONE** (PromoterBackground): Ashwini Shashi Bhushan Dubey was appointed as Company Secretary & Compliance Officer on May 31, 2025.. The provided search results do not contain any information confirming or denying the appointment of Ashwini Shashi Bhushan Dubey as Company Secretary & Compliance Officer on May 31, 2025. The search results cover various unrelated topics such as mutual funds, regulatory actions, and stock scandals. - **NONE** (PromoterBackground): The Audit Committee was constituted pursuant to a resolution dated June 28, 2024, and later reconstituted by the Board.. The search results do not contain any information regarding the constitution or reconstitution of an Audit Committee for Anchor Offshore Services Limited as mentioned in the DRHP claim. The search results focus on unrelated market activities, regulatory actions, and financial scandals. - **NONE** (PromoterBackground): Sujata N Chanillo was employed as the Head of Human Resources of the company and was associated as a Whole-Time Director from September 12, 2014 until March 31, 2025, and subsequently appointed as Whole-Time Director from December 10, 2025.. The provided search results do not contain any information corroborating or contradicting the specific claim regarding Sujata N Chanillo's employment and directorship dates at Anchor Offshore Services Limited. The search results focus on broader market and regulatory news. ## Common questions ### How big is the Anchor Offshore Services Limited IPO? Anchor Offshore Services Limited's IPO comprises a fresh issue of 64,00,000 shares and an offer for sale of 6 lakh shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Anchor Offshore Services Limited's revenue and profit? Anchor Offshore Services Limited reported revenue from operations of ₹106 Cr in FY26, -24.4% versus FY25. Net profit was ₹8.0 Cr (FY25: ₹13 Cr). Revenue grew at a compound rate of -5.3% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Anchor Offshore Services Limited? Promoters and the promoter group hold 80.9% of Anchor Offshore Services Limited before the IPO. ### How will Anchor Offshore Services Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding long-term working capital requirements of our Company Up to (₹83 Cr); Repayment/pre-payment, in full, of a borrowing availed by our Company Up to (₹3.0 Cr); General Corporate Purposes(1) (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Anchor Offshore Services Limited's DRHP? We fact-checked 40 claims from the filing against the open web: 0 raised a high concern, 3 medium and 4 low. The most notable: Search results indicate a past legal issue involving Anchor Offshore Services Ltd. (AOSL) with a firm, specifically mentioning a Bombay High Court ruling… One search result indicates that a case bearing the number 179/2018 was filed by Prescience Techno Private Limited (PTPL) against the company. However, the… The search results provide references to various legal cases involving ONGC, including a Supreme Court order and a case involving a Section 34 application,… This is an automated screen, not a verdict; each finding links to its sources. ### What does Anchor Offshore Services Limited do? Forget the fanfare of the IPO; the real story behind Anchor Offshore Services Limited is rooted in high-stakes legal battles. We dive into the murky history involving Natural Gas Corporation Limited, where disputes over O&M crane contracts have led to serious arbitration challenges. ### Who manages the Anchor Offshore Services Limited IPO? Book running lead managers: Nirbhay Capital Services Private Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Anchor Offshore Services Limited IPO documents? All 2 filings for Anchor Offshore Services Limited (DAP, DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [ANCHOR OFFSHORE SERVICES LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/Anchor%20Offshore%20Services%20Limited-DA_p.pdf) (Abridged prospectus (DAP), filed 18 Sep 2026) - [ANCHOR OFFSHORE SERVICES LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1789731006415_1354.pdf) (Draft Red Herring Prospectus, filed 18 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.