Annu Projects IPO: Price Band, Lot Size, Financials & Review
Annu Projects IPO listed on BSE & NSE on Wed, 2 Sep 2026. The issue was subscribed 2.93x overall.
Last updated
- Price band
- ₹94 – ₹99
- Lot size
- 151 shares
- Min. investment
- ₹14,949
- Issue size
- ₹175.06 Cr
- Last GMP
- +₹1
- Subscribed
- 2.93x
Annu Projects IPO details
Annu Projects IPO is a ₹175.06 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue was open from Tue, 25 Aug 2026 to Fri, 28 Aug 2026. Allotment was finalised on Mon, 31 Aug 2026, and the shares listed on BSE & NSE on Wed, 2 Sep 2026.
The price band is ₹94 to ₹99 per share and the lot size is 151 shares, so the minimum retail application is ₹14,949. Retail investors can apply for up to 13 lots (1,963 shares, ₹1,94,337).
KFin Technologies Limited is the registrar, and Mefcom Capital Markets Limited is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Annu Projects IPO GMP before listing was +₹1 (+1.01% against the upper price band of ₹99), implying an estimated listing price of ₹100. Across 9 days of tracking, GMP ranged from 0 (20 Aug) to +₹7 (27 Aug).
| Last GMP | +₹1 |
|---|---|
| GMP vs upper band | +1.01% |
| Estimated listing price | ₹100 |
| Highest (27 Aug) | +₹7 |
| Lowest (20 Aug) | 0 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Annu Projects IPO day-wise GMP.
Subscription
Day-wise subscription →Annu Projects IPO was subscribed 2.93x overall: QIB 1.72x, NII 3.55x and retail 2.68x.
| Category | Subscribed |
|---|---|
| QIB | 1.72x |
| NII | 3.55x |
| └ bNII (above ₹10 lakh) | 3.09x |
| └ sNII (₹2–10 lakh) | 4.47x |
| Retail | 2.68x |
| Total | 2.93x |
Final figures at the close of bidding on 28 Aug 2026. Category-wise bids, application-wise breakup and allotment chances are on the Annu Projects IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Qualified Institutions | 17,68,300 | 10.00% |
| Non-Institutional | 70,73,200 | 40.00% |
| └ BNII | 47,16,056 | 26.67% |
| └ SNII | 23,57,144 | 13.33% |
| Retail Investors | 88,41,500 | 50.00% |
| Total | 1,76,83,000 | 100.00% |
Annu Projects IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 151 | ₹14,949 |
| Retail (Max) | 13 | 1,963 | ₹1,94,337 |
| S-HNI (Min) | 14 | 2,114 | ₹2,09,286 |
| S-HNI (Max) | 66 | 9,966 | ₹9,86,634 |
| B-HNI (Min) | 67 | 10,117 | ₹10,01,583 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
At the upper price band of ₹99, the issue is priced at 14.33x pre-issue earnings and 19.64x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Listed peers with positive earnings trade at a median P/E of 19.89x (4 companies).
Promoter holding falls from 89.11% before the issue to 65.05% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹6.91 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 14.33x |
| EPS (post-issue) EPS on the enlarged share capital | ₹5.04 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 19.64x |
| Promoter holding (pre-issue) | 89.11% |
| Promoter holding (post-issue) | 65.05% |
Annu Projects Limited financials
Between 31 Mar 2024 and 31 Mar 2026, revenue rose from ₹155.42 Cr to ₹244.59 Cr, and profit after tax rose from ₹17.39 Cr to ₹33.03 Cr. The PAT margin for 31 Mar 2026 was 13.50%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 341.82 | 233.37 | 161.34 |
| Revenue | 244.59 | 182.35 | 155.42 |
| Profit After Tax | 33.03 | 21.10 | 17.39 |
| Net Worth | 155.26 | 122.06 | 68.93 |
| Reserve & Surplus | 107.45 | 74.25 | 66.39 |
| Total Borrowings | 52.54 | 22.27 | 19.69 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 21.27 | 17.29 | 25.23 |
| ROCE % | 22.66 | 20.59 | 29.95 |
| Debt / Equity | 0.34 | 0.20 | 0.29 |
| RoNW % | 21.27 | 17.29 | 25.23 |
| Pat Margin % | 13.69 | 11.72 | 11.29 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Annu Projects Ltd | 10 | — | 6.91 | 6.91 | 21.27% | 32.48 |
| Likhitha Infrastructure Ltd | 5 | 23.17 | 9.94 | 9.94 | 9.37% | 104.47 |
| Bondada Engineering Ltd | 2 | 16.60 | 18.28 | 18.25 | 28.82% | 62.35 |
| EMS Limited | 10 | 24.65 | 16.30 | 16.30 | 8.62% | 190.03 |
| Suyog Telematics Ltd | 10 | 16.11 | 54.70 | 52.40 | 12.88% | 42.50 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
About Annu Projects Limited
Annu Projects Limited is an Engineering, Procurement and Construction (EPC) company engaged in the design, development, implementation, operation and maintenance of essential overhead and underground utility infrastructure. The company primarily operates across three key verticals: telecom infrastructure, sewerage infrastructure and gas pipeline infrastructure.
Key Business Verticals
1. Telecom Infrastructure
Annu Projects Limited provides end-to-end services in the telecom infrastructure segment, including surveying, designing and installation of cabling and tower infrastructure. Its solutions also cover communication, automation and electronic security systems.
The company has undertaken projects for customers such as Bharat Sanchar Nigam Limited (BSNL), A2Z Infra Engineering Limited, Bharat Broadband Network Limited (BBNL), and G R Infraprojects Limited.
2. Sewerage Infrastructure
In the sewerage infrastructure segment, the company undertakes a wide range of civil and utility infrastructure works. Its scope of services includes pipe laying, construction of manholes, sewerage treatment plants (STPs), pumping stations and other associated structural facilities.
These projects involve the development and implementation of essential sewerage infrastructure for urban and other utility requirements.
3. Gas Pipeline Infrastructure
The company is also engaged in the development of gas distribution infrastructure. Its activities include the laying of Medium-Density Polyethylene (MDPE) pipelines ranging from 20 mm to 125 mm in diameter, as well as the execution of domestic and commercial gas connections.
The company has executed approximately 38,300 GI (galvanized iron) house connections for domestic and commercial gas supply. Its customers in this segment include Indraprastha Gas Limited (IGL), Gujarat Gas Limited and GAIL India Limited.
Promoters
- Sanjay Kumar Sarraf
- Krishna Ranjan
Contact details
Annu Projects Ltd.
B-1, Plot No. 11,
Local Shopping Complex Vasant Kunj,
South Delhi, New Delhi, 110070
Phone: +91 11 40114238
Email: cs@annuprojects.com
Website: http://www.annuprojects.com/
Annu Projects IPO FAQs
- What is the Annu Projects IPO price band?
- The Annu Projects IPO price band is ₹94 to ₹99 per share.
- What is the Annu Projects IPO lot size and minimum investment?
- The Annu Projects IPO lot size is 151 shares. The minimum retail investment is ₹14,949 for one lot at the upper price band. Retail investors can apply for up to 13 lots (1,963 shares), costing ₹1,94,337.
- When was Annu Projects IPO open for subscription?
- Annu Projects IPO was open for subscription from Tue, 25 Aug 2026 to Fri, 28 Aug 2026.
- What is the Annu Projects IPO subscription status?
- Annu Projects IPO was subscribed 2.93x overall: QIB 1.72x, NII 3.55x and retail 2.68x. Day-wise and category-wise figures are on the subscription page.
- What was the Annu Projects IPO GMP before listing?
- The last Annu Projects IPO GMP before listing was +₹1 (+1.01% against the upper price band of ₹99), implying an estimated listing price of ₹100. Across 9 days of tracking, GMP ranged from 0 (20 Aug) to +₹7 (27 Aug). GMP is an unofficial grey market indicator and can change quickly.
- What is the Annu Projects IPO allotment date?
- The Annu Projects IPO basis of allotment was finalised on Mon, 31 Aug 2026. You can check your allotment status on the KFin Technologies Limited website.
- What is the Annu Projects IPO listing date?
- Annu Projects IPO listed on BSE & NSE on Wed, 2 Sep 2026.
- Is the Annu Projects IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Annu Projects IPO?
- The registrar for the Annu Projects IPO is KFin Technologies Limited, and the book running lead manager is Mefcom Capital Markets Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.