Annu Projects IPO GMP today is Rs 4. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
ANNU
Annu Projects IPO GMP, Subscription & Allotment Status Today
Annu Projects is an infrastructure construction company primarily engaged in providing civil contracting services. The company’s core business activities are focused on two main sectors: telecommunication infrastructure and sewerage infrastructure, from which it derives the majority of its revenue. Its services encompass the design, development, implementation, operation, and maintenance of various projects. These projects include laying optical fibre cables for telecom networks, as well as the construction and management of sewerage pipelines and treatment plants. In addition to its main verticals, the company undertakes projects in the gas pipeline sector and has recently expanded into the railway signalling vertical. The company’s revenue is primarily generated from rendering civil contracting services, with a smaller portion earned through the sale of traded goods.
- Price Band
- ₹94.00 - ₹99.00
- Lot Size
- 151 Shares
- Bidding Closes
- 28 Aug 2026
- Listing Date
- 02 Sept 2026
Current GMP Status
₹4
+4.04% vs upper band
Est. Listing Gain
-24.24%
Last Trend
28 Aug 2026
Listing Price
₹75.00
Retail Entry
₹14,949
IPO Details
Complete IPO information
| Current GMP | ₹4 |
|---|---|
| Estimated Listing Gain | -24.24% |
| Price Band | ₹94.00 - ₹99.00 |
| Issue Price | Approx ₹99.00 Crores |
| Listing Price | ₹75.00 |
| Lot Size | 151 Shares |
| Issue Type | Mainboard |
| Registrar | TBA |
| Exchange | BSE, NSE |
| Retail Quota | TBA |
| Overall Subscription | 2.93x |
| Listing Date | 02 Sept 2026 |
| Minimum Investment | ₹14,949 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 17.68 | 30.45 | 1.72x |
| NII | 70.73 | 251.18 | 3.55x |
| Retail | 88.42 | 236.81 | 2.68x |
| Overall Subscription | 176.83 | 518.44 | 2.93x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Annu Projects is priced at ₹99 per share. With a minimum lot size of 151 shares, a retail investor applying for one lot would need approximately ₹14,949 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Annu Projects stands at ₹4, implying an estimated listing gain of around 4.04% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Annu Projects's IPO was subscribed 2.93x overall, with a category-wise breakdown of Retail 2.68x, QIB 1.72x, NII 3.55x.
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
25 Aug 2026
✓
Bidding Closes
28 Aug 2026
✓
Allotment
31 Aug 2026
✓
Listing
02 Sept 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 28 Aug 2026 | ₹4.00 | - | 4.04% |
| 27 Aug 2026 | ₹4.00 | +₹4.00 | 4.04% |
| 26 Aug 2026 | ₹0.00 | - | TBA |
| 25 Aug 2026 | ₹0.00 | -₹4.00 | TBA |
| 24 Aug 2026 | ₹4.00 | - | 4.04% |
| 22 Aug 2026 | ₹4.00 | +₹4.00 | 4.04% |
| 20 Aug 2026 | ₹0.00 | - | 0.00% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 151 | ₹14,949 |
| Retail Maximum | 13 Lot | 1,963 | ₹1,94,337 |
| S-HNI Minimum | 14 Lot | 2,114 | ₹2,09,286 |
| S-HNI Maximum | 66 Lot | 9,966 | ₹9,86,634 |
| B-HNI Minimum | 67 Lot | 10,117 | ₹10,01,583 |
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Fund Utilization
Objects of the Issue & Official Documents
Analysis
Annu Projects IPO Details
The Annu Projects IPO is a mainboard book-built issue with a total issue size of approximately ₹175 crores. The public offer consists entirely of a fresh issue of approximately 1,76,83,000 equity shares.
The IPO is scheduled to open for subscription on August 25, 2026 and close on August 28, 2026. The price band has been fixed at ₹94 to ₹99 per equity share, while the face value is ₹10 per equity share. The company's shares are proposed to be listed on BSE and NSE.
Annu Projects Limited is an infrastructure company engaged in the design, development, implementation, operations and maintenance of overhead and underground utility infrastructure. Its major business verticals include telecom infrastructure, sewerage infrastructure and gas pipelines.
| Particular | Details |
|---|---|
| IPO Open Date | August 25, 2026 |
| IPO Close Date | August 28, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹94 to ₹99 Per Share |
| Issue Size | Approx ₹175 Crores |
| Fresh Issue | Approx ₹175 Crores |
| Fresh Issue Shares | Approx 1,76,83,000 Shares |
| Issue Type | Book Building Issue |
| IPO Listing | BSE, NSE |
Note: Annu Projects operates across telecom, sewerage and gas pipeline infrastructure. The company had filed its draft offer document with SEBI for the proposed IPO. Investors should review the final offer documents, financial performance, valuation and key risks before applying.
Analysis
Annu Projects IPO Reservation
The Annu Projects IPO reservation is divided among Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs) and Retail Individual Investors.
As per the provided category-wise allocation, 10% of the issue is allocated to Qualified Institutional Buyers excluding the anchor portion, 40% is allocated to Non-Institutional Investors, and 50% is reserved for Retail Individual Investors.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 10% |
| NII Shares Offered | – Shares | 40% |
| Retail Shares Offered | – Shares | 50% |
Note: The exact number of shares offered under each investor category is currently unavailable in the provided data. The table reflects the available percentage-wise IPO reservation and can be updated once the final category-wise allocation is announced.
Analysis
Annu Projects IPO Dates
The Annu Projects IPO will open for subscription on August 25, 2026 and close on August 28, 2026. Investors can submit their IPO applications during this subscription period.
The Annu Projects IPO allotment is expected to be finalized on August 31, 2026. Refunds for unsuccessful applicants and credit of shares to successful investors' demat accounts are scheduled for September 1, 2026. The company's equity shares are scheduled to list on BSE and NSE on September 2, 2026.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 25, 2026 |
| IPO Close Date | August 28, 2026 |
| Basis of Allotment | August 31, 2026 |
| Refunds | September 1, 2026 |
| Credit to Demat Account | September 1, 2026 |
| IPO Listing Date | September 2, 2026 |
Note: The above table summarizes the Annu Projects IPO timeline, including the opening date, closing date, basis of allotment, refunds, demat credit and proposed BSE & NSE listing date.
Analysis
Annu Projects IPO Promoters and Holding Pattern
The promoters of Annu Projects are Sanjay Kumar Sarraf and Krishna Ranjan. Before the IPO, the promoter and promoter group collectively hold 4,26,00,890 equity shares, representing approximately 89.11% of the company's pre-IPO equity share capital.
Other shareholders hold 52,08,780 equity shares, accounting for approximately 10.89% of the company's pre-IPO shareholding. The total number of outstanding equity shares before the IPO stands at 4,78,09,670.
Based on the provided holding pattern, the company's total outstanding equity shares are expected to increase to 6,54,92,670 shares after completion of the IPO.
Promoters of Annu Projects
- Sanjay Kumar Sarraf
- Krishna Ranjan
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 4,26,00,890 | 89.11% | – | -% |
| Others* | 52,08,780 | 10.89% | – | -% |
| Total | 4,78,09,670 | 100% | 6,54,92,670 | 100% |
Note: The post-IPO promoter and public shareholding percentages have not been provided. The above table reflects the available pre-IPO holding pattern and the provided total post-IPO equity share capital.
Analysis
Annu Projects IPO Objects of the Issue & Utilisation of Proceeds
Annu Projects proposes to utilise the fresh issue proceeds primarily towards strengthening its operational capacity and working capital position. A significant portion of the IPO proceeds is intended to support the company's ongoing working capital requirements.
The company plans to utilise approximately ₹15.41 crores towards capital expenditure for the purchase of machinery or equipment. A further ₹115.00 crores is proposed to be utilised towards funding the company's working capital requirements.
| Purpose | Amount |
|---|---|
| Funding capital expenditure requirements of the Company for purchase of machinery or equipment | ₹15.41 Cr. |
| Funding working capital requirements of the Company | ₹115.00 Cr. |
| General Corporate Purpose | ₹- |
Note: The specifically identified utilisation of IPO proceeds totals approximately ₹130.41 crores. The balance net proceeds may be utilised towards general corporate purposes and applicable issue-related expenses.
Analysis
Annu Projects About IPO
To be updated soon
Analysis
Annu Projects IPO Company Financial Report
Annu Projects reported growth in revenue and profitability over the reported financial periods. Consolidated revenue increased from ₹155.42 crores in FY2024 to ₹182.35 crores in FY2025. For FY2026, the company reported standalone revenue of ₹244.59 crores.
Profit After Tax (PAT) increased from ₹17.39 crores in FY2024 to ₹21.10 crores in FY2025. The company reported a standalone PAT of ₹33.03 crores in FY2026. Total assets also expanded from ₹161.34 crores in FY2024 to ₹341.82 crores in FY2026.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 (Consolidated) | ₹155.42 Cr. | ₹131.00 Cr. | ₹17.39 Cr. | ₹161.34 Cr. |
| 2025 (Consolidated) | ₹182.35 Cr. | ₹154.14 Cr. | ₹21.10 Cr. | ₹233.37 Cr. |
| 2026 (Standalone) | ₹244.59 Cr. | ₹198.42 Cr. | ₹33.03 Cr. | ₹341.82 Cr. |
Amount in ₹ Crores: FY2024 and FY2025 figures are consolidated, while FY2026 figures are standalone. Therefore, direct year-on-year comparisons with FY2026 should be interpreted carefully due to the different reporting bases.
Analysis
Annu Projects IPO Valuation – FY2026
The Annu Projects IPO valuation can be assessed using key financial indicators such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, PAT Margin, Return on Net Worth (RoNW) and Net Asset Value (NAV).
For FY2026, Annu Projects reported an ROE of 21.27% and ROCE of 22.66%. The company's EBITDA margin stood at 20.81%, while its PAT margin was 13.69%, indicating its operating and net profitability during the financial year.
The company's basic Earnings Per Share (EPS) stood at ₹6.91, while Return on Net Worth (RoNW) was 21.27%. Net Asset Value (NAV) stood at ₹32.48 per equity share. The debt-to-equity ratio is currently unavailable in the provided data.
| KPI | Values |
|---|---|
| ROE | 21.27% |
| ROCE | 22.66% |
| EBITDA Margin | 20.81% |
| PAT Margin | 13.69% |
| Debt to Equity Ratio | – |
| Earning Per Share (EPS) | ₹6.91 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 21.27% |
| Net Asset Value (NAV) | ₹32.48 |
Note: Based on the IPO price band of ₹94 to ₹99 and FY2026 EPS of ₹6.91, the implied P/E ratio works out to approximately 13.60x to 14.33x. At the upper price band of ₹99, the issue price is approximately 3.05 times the reported NAV of ₹32.48 per share.
Analysis
Annu Projects IPO Peer Group Comparison
The Annu Projects IPO peer group comparison includes listed infrastructure and engineering companies such as Likhitha Infrastructure Limited, Bondada Engineering Limited, EMS Limited and Suyog Telematics Limited.
Investors can compare parameters such as Earnings Per Share (EPS), P/E ratio, Return on Net Worth (RoNW), Net Asset Value (NAV) and income. Annu Projects' FY2026 RoNW of 21.27% is higher than three of the four peers shown below, while Bondada Engineering reports the highest RoNW at 28.82%.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Likhitha Infrastructure Limited | 9.94 | 23.17 | 9.37% | 104.47 | 456.73 Cr. |
| Bondada Engineering Limited | 18.28 | 16.60 | 28.82% | 62.35 | 2,842.81 Cr. |
| EMS Limited | 16.30 | 24.65 | 8.62% | 190.03 | 732.75 Cr. |
| Suyog Telematics Limited | 54.70 | 16.11 | 12.88% | 42.50 | 221.85 Cr. |
Note: Based on Annu Projects' FY2026 EPS of ₹6.91 and IPO price band of ₹94–₹99, the implied P/E ratio is approximately 13.60x–14.33x. This is below the P/E ratios of all four listed peers shown above. However, valuation comparisons should also consider differences in business mix, scale, growth, profitability and risk profile.
Analysis
Annu Projects IPO Lead Managers aka Merchant Bankers
- Mefcom Capital Markets Ltd.
FAQ
Annu Projects IPO FAQs
Annu Projects IPO price band is Rs 94.00 to Rs 99.00. Check the latest issue price, lot size and GMP together before applying.
Annu Projects IPO open date is 25 Aug 2026, close date is 28 Aug 2026, and listing date is 02 Sept 2026.
Annu Projects IPO lot size is 151 shares. The minimum retail investment is Rs 14,949.
Annu Projects is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Annu Projects IPO subscription status currently shows Retail 2.68x, QIB 1.72x, NII 3.55x, Overall 2.93x.
Annu Projects is an infrastructure construction company primarily engaged in providing civil contracting services. The company’s core business activities are focused on two main sectors: telecommunication infrastructure and sewerage infrastructure, from which it derives the majority of its revenue. Its services encompass the design, development, implementation, operation, and maintenance of various projects. These projects include laying optical fibre cables for telecom networks, as well as the construction and management of sewerage pipelines and treatment plants. In addition to its main verticals, the company undertakes projects in the gas pipeline sector and has recently expanded into the railway signalling vertical. The company’s revenue is primarily generated from rendering civil contracting services, with a smaller portion earned through the sale of traded goods.
Annu Projects IPO issue size is TBA and the expected allotment date is 31 Aug 2026.
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