Annu Projects IPO Day 1 Subscription Status: 0.07x Subscribed; GMP at ₹4
Annu Projects’ IPO was subscribed 0.07 times overall on Day 1 as of 25 August 2026, with retail investors leading at 0.11 times. Non-Institutional Investors (NIIs) subscribed 0.04 times, while Qualified Institutional Buyers (QIBs) had yet to show meaningful participation. The latest available Grey Market Premium (GMP) reading is ₹4, although same-day grey-market readings differ. The ₹175.06 crore issue remains open until 28 August 2026.
| Metric | Latest update |
| Bidding day | Day 1 |
| Data status | Live, as of 25 August 2026 |
| Overall subscription | 0.07x |
| QIB subscription | 0.00x |
| NII subscription | 0.04x |
| Retail subscription | 0.11x |
| Other reserved category | Not separately reported |
| Current GMP | ₹4 |
| GMP percentage | 4.0% |
| Indicative price | ₹103 |
| Closing date | 28 August 2026 |
Annu Projects IPO Day 1 Subscription Status
The latest exchange-linked bidding data available for 25 August 2026 shows the Annu Projects IPO subscribed 0.07 times overall. Retail Individual Investors (RIIs) were the most active category, with bids equivalent to 0.11 times the shares reserved for them.
| Investor category | Day 1 subscription |
| Qualified Institutional Buyers (QIBs) | 0.00x |
| Non-Institutional Investors (NIIs) | 0.04x |
| Retail Individual Investors (RIIs) | 0.11x |
| Overall | 0.07x |
The figures point to a measured opening response so far, with demand concentrated more in the retail category than among institutional and non-institutional bidders.
Subscription multiples measure the quantity of shares bid for relative to the shares available in each category. They do not represent the number of unique applicants. Category allocation also matters when comparing subscription multiples.
What the Day 1 Subscription Numbers Indicate So Far
Retail demand is currently ahead of the other investor categories, but the IPO remains below full subscription overall at this stage of Day 1. NII participation is also present but remains limited, while the QIB book has not recorded meaningful demand in the latest available figures.
Institutional bids often build during later stages of an IPO, so a low QIB multiple early in the bidding period should not by itself be treated as a final assessment of institutional interest. The more useful signal will be whether demand broadens across categories as bidding progresses.
Annu Projects IPO GMP Today and Estimated Listing Price
The latest available Annu Projects IPO GMP reading used here is ₹4 per share. At the upper price band of ₹99, that represents an unofficial premium of about 4.0%.
The calculation is:
Indicative price = ₹99 upper price band + ₹4 GMP = ₹103
GMP percentage = ₹4 ÷ ₹99 × 100 = about 4.0%
The previous available ₹4 reading indicates that the quoted premium is broadly unchanged. However, grey-market data is not standardised. Some same-day market reporting has cited a zero premium, while other trackers have shown ₹4. This disagreement is important because GMP is an unofficial and unregulated market indicator.
GMP can change quickly and is not published by the Securities and Exchange Board of India (SEBI), NSE, or BSE. An indicative price of ₹103 is therefore not a forecast or guarantee of the eventual listing price.
What Stands Out in Today’s Bidding
Two points are notable so far. First, the 0.11x retail subscription is ahead of the NII and QIB categories, meaning the opening demand is currently retail-led rather than broad-based.
Second, the modest ₹4 GMP sits alongside a relatively low 0.07x overall subscription. There is no major subscription-GMP divergence at present, although the disagreement between grey-market trackers reduces the value of treating the GMP as a precise signal.
The limitations are equally important. Day 1 figures can change materially before bidding closes, and high or low subscription alone does not establish whether the IPO valuation is fair, whether the underlying business is strong, or how the shares will perform after listing.
IPO Details Retail Investors Need
| IPO detail | Information |
| Price band | ₹94 to ₹99 per share |
| Lot size | 151 shares |
| Minimum retail investment | ₹14,949 at ₹99 |
| Issue size | ₹175.06 crore |
| Fresh issue | ₹175.06 crore |
| Offer for Sale (OFS) | Nil |
| Issue type | Mainboard book-built issue |
| Closing date | 28 August 2026 |
| Expected listing date | 2 September 2026 |
| Exchange | BSE and NSE |
Annu Projects is raising the entire issue through fresh equity issuance, so there is no Offer for Sale (OFS) component.
Brief Company and Financial Context
Annu Projects is an engineering, procurement, and construction company working across telecom infrastructure, sewerage systems, gas pipelines, and railway signalling. Sewerage infrastructure was its largest revenue contributor in FY2026. Revenue increased to ₹244.59 crore in FY2026 from ₹182.35 crore in FY2025, while profit after tax rose to ₹33.03 crore from ₹21.10 crore.
The company plans to use about ₹115 crore of fresh proceeds for working capital and ₹15.41 crore for machinery and equipment, with the balance for general corporate purposes. One point to monitor is borrowings, which increased to ₹52.54 crore in FY2026 from ₹22.27 crore a year earlier, alongside the company’s expanding project requirements.
What Happens Next
Day 2 bidding is scheduled for 26 August 2026. Investors can watch whether the overall subscription rate accelerates, whether QIB participation begins to build, whether NII and retail demand broadens, and whether the unofficial GMP remains near current levels or moves materially.
The IPO will continue accepting bids through 28 August 2026, so the Day 1 numbers remain interim and should not be treated as the final demand picture.
Frequently Asked Questions (FAQs)
Q: How many times is the Annu Projects IPO subscribed on Day 1?
A: The Annu Projects IPO was subscribed 0.07 times overall in the latest available Day 1 data on 25 August 2026. Retail investors led at 0.11 times, followed by NIIs at 0.04 times, while QIB participation was 0.00 times.
Q: What is the Annu Projects IPO GMP today?
A: The latest available GMP reading used here is ₹4 per share, equivalent to about 4.0% of the ₹99 upper price band. However, same-day grey-market readings differ, and GMP is unofficial, unregulated, and subject to rapid change.
Q: What listing price does the current Annu Projects IPO GMP indicate?
A: A ₹4 GMP added to the ₹99 upper price band gives an indicative price of ₹103 per share. This is only a grey-market calculation and does not predict or guarantee the actual stock exchange listing price.
Q: Does high IPO subscription guarantee a premium listing?
A: No. Subscription measures bid demand relative to shares available, while listing performance also depends on valuation, company fundamentals, broader market conditions, and investor sentiment. Even a heavily subscribed IPO can list below expectations, and GMP does not guarantee gains.
Disclaimer
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