Summary
Annu Projects IPO is a fresh issue of up to 1,76,83,000 equity shares, worth approximately ₹175.06 crore at the upper price band of ₹99.
The IPO opens on 25 August 2026 and closes on 28 August. One lot contains 151 shares, requiring ₹14,949 at the upper price.
FY2026 revenue from operations is ₹241.25 crore, while PAT is ₹33.03 crore.
The company plans to use ₹115 crore for working capital and ₹15.41 crore for machinery and equipment. The tentative listing date is 2 September 2026.
Annu Projects IPO is a book-built mainboard issue consisting entirely of fresh shares. The company plans to offer up to 1,76,83,000 equity shares at a price band of ₹94 to ₹99 apiece. At the upper end, the issue works out to approximately ₹175.06 crore.
Applications open on 25 August 2026 and close on 28 August. The lot size is 151 shares. The shares are expected to list on BSE and NSE on 2 September 2026.
Annu Projects IPO Details
Here are the key details of Annu Projects IPO that investors must know before applying:
| Particulars | Details |
| IPO Open Date | 25 August 2026 |
| Close Date | 28 August 2026 |
| Face value | ₹10 per share |
| Price Band | ₹94 to ₹99 per share |
| Issue price | – |
| IPO Lot Size | 151 shares |
| Offer for sale | Nil |
| Fresh issue | Up to 1,76,83,000 shares |
| Issue Type | Book Built Mainboard IPO |
| Listing at | BSE, NSE |
| Total Issue Size (₹ Crore) | Up to ₹175.06 crore |
| Minimum Investment | ₹14,949 for 151 shares at ₹99 |
Annu Projects IPO Timeline
The issue opens on 25 August 2026 and closes on 28 August. Allotment is scheduled for 31 August.
| Particulars | Date |
| IPO Open Date | 25 August 2026 |
| IPO Close Date | 28 August 2026 |
| Tentative Allotment | 31 August 2026 |
| Initiation of Refunds | 1 September 2026 |
| Credit of Shares to Demat | 1 September 2026 |
| Tentative Listing Date | 2 September 2026 |
| Cut-off time for UPI mandate confirmation | 5:00 PM on 28 August 2026 |
Annu Projects Key Performance Indicators
Analyse key financial performance indicators of the company to judge its health before application.
| KPI | FY2026 | FY2025 | FY2024 |
| ROE | 21.27% | 16.98% | 25.06% |
| ROCE | 22.66% | 20.67% | 29.94% |
| Debt Equity | 0.34 | 0.2 | 0.28 |
| RoNW | 21.27% | – | – |
| PAT Margin | 13.69% | 11.51% | 11.28% |
| EBITDA Margin | 20.81% | – | – |
| Price Book Value | – | – | – |
Annu Projects IPO Financials
Analyse the latest annual performance metrics to analyse the IPO.
| Particulars | FY2024 | FY2025 | FY2026 |
| Revenue from Operations | 153.98 | 180.07 | 241.25 |
| Total Assets | 161.34 | 233.37 | 341.82 |
| Profit After Tax | 17.39 | 21.1 | 33.03 |
Annu Projects India IPO Subscription Status
Subscription Details Not Yet Available
Subscription information will be displayed once the bidding process starts.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
Annu Projects IPO Grey Market Premium (GMP Today)
Annu Projects IPO GMP was ₹0 on 20 August 2026. At the upper price band of ₹99, this indicated an estimated listing price of ₹99 with no grey-market premium at that point.
| GMP Date | GMP | Est. Listing Price (cap price + GMP) | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 24-08-2026 | ₹0 ▼ | ₹99 (0.00%) | ₹0 | 24-Aug-2026 20:00 |
| 23-08-2026 | ₹4 ─ | ₹103 (4.04%) | ₹604 | 23-Aug-2026 23:31 |
| 22-08-2026 | ₹4 ─ | ₹103 (4.04%) | ₹604 | 22-Aug-2026 23:31 |
| 21-08-2026 | ₹4 ▲ | ₹103 (4.04%) | ₹604 | 21-Aug-2026 23:33 |
| 20-08-2026 | ₹0 ─ | ₹99 (0.00%) | ₹0 | 20-Aug-2026 23:37 |
Note: GMP is an unofficial market indicator and may change quickly with demand, market conditions and subscription trends.
Annu Projects IPO Reservation
The public issue follows a book-built structure.
| Investor Category | Reservation |
| QIB Shares Offered | Not more than 10% |
| NII (HNI) Shares Offered | Not less than 40% |
| Retail Shares Offered | Not less than 50% |
| Total Shares Offered | Up to 1,76,83,000 shares |
Annu Projects IPO Lot Size
One application lot contains 151 shares. At the upper price of ₹99, one lot costs ₹14,949.
| Application | Lots | Shares | Amount at ₹99 |
| Individual Investors (Retail) (Min) | 1 | 151 | ₹14,949 |
| Individual Investors (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 |
These amounts are calculated using the upper price band of ₹99.
Annu Projects IPO Anchor Investors
The Annu Projects IPO does not have an anchor quota. Therefore, anchor investor details are not available.
Annu Projects IPO Prospectus
| Document | Status |
| Annu Projects IPO DRHP | DRHP |
| Annu Projects IPO DRHP Addendum | DRHP Addendum |
| Annu Projects IPO RHP | RHP |
About Annu Projects
Annu Projects Limited is a New Delhi-based EPC company working primarily across telecom infrastructure, sewerage infrastructure and gas pipeline projects.
The business traces its corporate history to 2003. Its work includes optical fibre cable infrastructure, sewerage networks, pipeline construction and related infrastructure execution.
| Particulars | Details |
| Founded | 2003 |
| Chairman & Managing Director | Sanjay Kumar Sarraf |
| Promoters | Sanjay Kumar Sarraf and Krishna Ranjan |
| Parent Organisation | – |
| Services | Telecom infrastructure, sewerage infrastructure and gas pipelines |
| Book Running Lead Manager | Mefcom Capital Markets Limited |
| Registrar of the Issue | KFin Technologies Limited |
The company has also disclosed experience across government-backed infrastructure projects and utility networks.
Objectives of Annu Projects
Fresh issue proceeds are intended primarily for working capital and equipment purchases, with the balance available for general corporate purposes.
| Objective | Amount |
| Working capital requirements | ₹115 crore |
| Purchase of machinery and equipment | ₹15.41 crore |
| General corporate purposes | Balance amount |
Working capital is therefore the largest identified use of the IPO proceeds.
Strengths of Annu Projects
- Established EPC experience: The company has been operating for more than two decades and works across telecom, sewerage and gas pipeline infrastructure.
- Revenue has grown in the latest year: FY2026 revenue from operations is ₹241.25 crore, up from ₹180.07 crore in FY2025.
- Profitability also improved: PAT for FY2026 is ₹33.03 crore, compared with ₹21.10 crore in FY2025.
- Exposure spans several infrastructure verticals: Rather than depending on a single type of EPC work, Annu Projects operates across telecom networks, wastewater infrastructure and gas pipelines.
- Only fresh issue: The existing shareholders are not liquidating their holding; this might be a sign of confidence in the company’s future prospects.
Risks of Annu Projects
- Working capital remains important to execution: The fact that ₹115 crore of IPO proceeds is earmarked for working capital shows the amount of capital required to support project execution and growth.
- Project execution can be affected by delays: EPC contracts can face approval delays, cost escalation, right-of-way issues and changes in execution schedules.
- Government infrastructure spending matters to the business: Projects linked to public infrastructure programmes can be affected by government budgets, tender schedules and changes in procurement policy.
- Order-book figures do not automatically translate into revenue: Projects can be delayed, modified or cancelled, and revenue recognition depends on actual execution.
- The business operates in project-driven segments: Revenue and margins may move depending on project mix, timing and execution.
Annu Projects IPO Review
Annu Projects reaches the IPO market after a stronger FY2026. Revenue from operations is ₹241.25 crore, while PAT stands at ₹33.03 crore. Both are higher than the FY2025 figures of ₹180.07 crore and ₹21.10 crore, respectively.
The IPO is entirely a fresh issue, which means the proceeds go to the company rather than selling shareholders. A large part of that capital, ₹115 crore, is intended for working-capital requirements, while another ₹15.41 crore is earmarked for machinery and equipment.
At the upper price of ₹99, the issue is expected to raise approximately ₹175.06 crore.
Investors still need to consider the nature of the underlying EPC business. Project timing, working-capital cycles, government spending and execution delays can influence results. The company’s FY2026 growth and the final valuation at ₹99 should therefore be assessed together rather than looking at either in isolation.
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Annu Projects IPO FAQs
Annu Projects IPO is a book-built mainboard issue consisting entirely of fresh shares. The company plans to issue up to 1,76,83,000 equity shares. At the upper price of ₹99 per share, the issue size is approximately ₹175.06 crore.
The price band is ₹94 to ₹99 per share. Each equity share has a face value of ₹10.
The IPO will open for bidding on 25 August 2026 and close on 28 August 2026.
One lot contains 151 shares. At the upper price band of ₹99, the minimum investment for one lot is ₹14,949.
The tentative allotment date is 31 August 2026.
Annu Projects shares are tentatively scheduled to list on BSE and NSE on 2 September 2026.
Annu Projects IPO GMP was ₹0 on 20 August 2026. At the upper price band of ₹99, this indicated an estimated listing price of ₹99 and a 0.00% grey-market premium at that point.
Investors can apply through the IPO section of their broker or through an ASBA-enabled bank once bidding opens. UPI can also be used for eligible applications.
Annu Projects reported FY2026 revenue from operations of ₹241.25 crore, and PAT of ₹33.03 crore, and the entire IPO is a fresh issue. Investors should also consider its working-capital needs, project execution risks, dependence on infrastructure spending and the valuation at the ₹94 to ₹99 price band before making a decision.
