Annu Projects Limited IPO
ListedMainboardInfrastructure Developers & Operators
2.90×
Subscribed
Price band
₹99 – ₹99
Lot size
151
1 lot = ₹14,949
Issue size
₹175.06 Cr
Open – close
25 Aug 2026
to 28 Aug 2026
Listing
02 Sept 2026
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
We can't judge this issue yet. A verdict needs at least three independent dimensions — valuation, growth, profitability, balance sheet, issue structure, governance or demand — and this issue does not yet publish enough of them for a read that would mean anything. The offer document has been analysed but reports too few of these to conclude on. A confident score from two fields would be worse than this notice.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens25 Aug 2026
- Closes28 Aug 2026
- Allotment31 Aug 2026
- Listing02 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.72x
Non-institutionalNII / HNI3.54x
Retail individualRII2.62x
Chance of allotment
Retail2.62× subscribed
~1 in 2.6
Minimum 1 lot · 151 shares · ₹14,949 blocked
Retail is 2.62× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.6 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII3.54× subscribed
~1 in 3.5
Minimum 14 lots · 2,114 shares · ₹2,09,286 blocked
HNI is 3.54× subscribed. This category is allotted proportionately, so a bid receives roughly 1/3.5 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹99 – ₹99
Face value₹10
Lot size151shares
Minimum application₹14,949at cut-off
Total issue size₹175.06 Cr
Listing atMainboard
Company & valuation
Debt / equity0.34×
ISININE103001017
RegistrarKARVY
What the money is for
Stated use of the net proceeds
- 01Funding capital expenditure requirements of our Company for purchase of machinery or equipment₹154.08 Cr
- 02Funding working capital requirements of our Company₹1.15k Cr
- 03General corporate purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumWe derived more than 90.00% of our revenue from operations from our telecom infrastructure and sewerage infrastructure verticals during Fiscals 2026, 2025 and 2024, respectively. Any slowdown in telecom sector, sewerage sector or decrease in demand of any services provided by us could materially and
mediumWe are dependent on and derived 57.09%, 64.99% and 60.88% of our revenue from operations, during Fiscals 2026, 2025 and 2024, respectively, from government sector entities based on competitive bidding. In case, we fail to secure awards of new projects, it will impact our business, results of operati
Litigation
As on the date of this Red Herring Prospectus, there are no outstanding (i) criminal proceedings (including first information reports); (ii) actions taken by regulatory or statutory authorities; (iii) claims related to direct and indirect tax matters; and (iv) other pending litigation/arbitration as determined to be material by the Board pursuant to the Materiality Policy, in each case involving the Company, Promoters and Directors. There are no disciplinary actions including penalties imposed by SEBI or stock exchanges against the Promoters in the last five Financial Years. There are no pending litigation involving Group Companies which may have a material impact on the Company. There are no findings/observations of any inspections by SEBI or any other regulator involving the Company which are material and which need to be disclosed. There are no outstanding material dues to creditors of the Company.
Positives the filing discloses (1)
Low leverage
Debt-to-equity of 0.34x.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+11.1%
Listed up
6 of 8
Best
+90.0%
Shanti Inorganics
Worst
-0.7%
Mopshop Distribution
Gaja Alternative Asset Management Limitedsame segment
31.2× sub+15.6%
Juniper Green Energy Limitedsame segment
7.9× sub+8.9%
131.8× sub+90.0%
1.6× sub+0.0%
-0.7%
138.6× sub+22.1%
1.5× sub+6.9%
46.2× sub+13.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Annu Projects Limited
Annu Projects Limited is an EPC company engaged in the design, development, implementation, operation and maintenance of overhead and underground utility infrastructure. Its business is divided into four verticals: telecom infrastructure, sewerage infrastructure, gas pipelines and railway signalling. The telecom business includes surveying, designing and installing cabling and tower infrastructure and laying optical fibre cable networks. Its sewerage activities include pipe laying, construction of manholes, sewage treatment plants, pumping stations and stormwater drainage systems. The gas pipeline vertical involves laying MDPE pipelines and GI house connections for domestic and commercial gas supply. The company has also undertaken railway signalling projects. Established in 2003, the company operates across multiple states in India and executes projects through direct contracts, subcontracts, and project-specific joint ventures or consortiums. As of June 30, 2026, it had completed 362 projects and had 23 ongoing projects. It also owned more than 558 machines and pieces of equipment and had 469 permanent employees.
Founded 2003MD Mr Sanjay Kumar SarrafSector Infrastructure Developers & Operators
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Annu Projects Limited IPO subscribed?
Annu Projects Limited is subscribed 2.90× overall (QIB 1.72×, NII 3.54×, retail 2.62×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, KARVY.
What is the minimum investment in the Annu Projects Limited IPO?
One lot is 151 shares, so a retail application at the ₹99 cut-off price blocks ₹14,949. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Annu Projects Limited IPO?
The retail portion is subscribed 2.62×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 3. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Annu Projects Limited IPO allotment date?
Allotment is scheduled for 2026-08-31, with listing on 2026-09-02. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, KARVY.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.