Annu Projects IPO Day 2 Subscription Status: 0.41x Subscribed; GMP at ₹4
Annu Projects’ IPO was subscribed 0.41 times overall on Day 2, based on the late morning data (11:00 a.m. to 12:00 noon IST) on 26 August 2026. Qualified Institutional Buyers (QIBs) led at 0.57 times, while retail demand increased to 0.41 times. The latest clearly timestamped Grey Market Premium (GMP) reading is ₹4, although other trackers differ. The ₹175.06 crore issue remains open until 28 August 2026.
| Metric | Latest update |
| Bidding day | Day 2 |
| Data status | Late morning (11:00 a.m. to 12:00 noon IST) on 26 August 2026 |
| Overall subscription | 0.41x |
| QIB subscription | 0.57x |
| NII subscription | 0.37x |
| Retail subscription | 0.41x |
| 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 2 Subscription Status
The Annu Projects IPO has received bids equivalent to 0.41 times the shares available in the public offer so far on Day 2. QIB demand remains the highest by subscription multiple, while the largest movement since Day 1 has come from retail investors.
| Investor category | Day 2 latest | Day 1 close | Change |
| Qualified Institutional Buyers (QIBs) | 0.57x | 0.57x | 0.00x |
| Non-Institutional Investors (NIIs) | 0.37x | 0.36x | +0.01x |
| Retail Individual Investors (RIIs) | 0.41x | 0.28x | +0.13x |
| Overall | 0.41x | 0.34x | +0.07x |
Retail demand has therefore strengthened more visibly than the other categories during Day 2. QIB demand has not changed from its Day 1 closing level, while Non-Institutional Investors (NIIs) have added only modestly.
Subscription multiples measure the quantity of shares bid for relative to shares reserved in each category. They should not be read as the number of unique investors who have applied.
How Subscription Changed From Day 1
Annu Projects ended Day 1 at 0.34x overall subscription, with QIBs at 0.57x, NIIs at 0.36x, and retail investors at 0.28x. The latest Day 2 overall multiple of 0.41x represents an absolute increase of 0.07 times.
The main driver has been retail bidding, which increased by 0.13 times to 0.41x. NII demand moved only slightly higher, while the QIB multiple remains unchanged.
This means demand has broadened somewhat on Day 2, but the issue is still below full subscription overall. Institutional participation often builds later in the bidding period, although the current data does not establish whether additional QIB demand will emerge before the issue closes.
Annu Projects IPO GMP Today and Estimated Listing Price
The latest clearly timestamped Annu Projects IPO GMP reading available on 26 August 2026 is ₹4 per share, recorded in the late morning (11:00 a.m. to 12:00 noon IST) on 26 August 2026. This is unchanged from the previous available ₹4 reading.
At the upper end of the ₹94 to ₹99 price band:
Indicative price = ₹99 + ₹4 = ₹103 per share
GMP percentage = ₹4 ÷ ₹99 × 100 = about 4.0%
However, grey-market trackers are not fully aligned. Another recent tracker has quoted ₹5, while earlier reporting on 26 August cited a zero premium. Because GMP is unofficial and unregulated, conflicting readings should not be averaged into a single figure.
The ₹103 calculation is therefore only an indicative price based on the ₹4 reading. GMP can change quickly and does not guarantee the eventual stock exchange listing price or any listing gain.
What Stands Out in Today’s Bidding
The clearest Day 2 development is the rise in retail subscription from 0.28x at the Day 1 close to 0.41x. That accounts for most of the increase in the overall subscription multiple.
At the same time, QIB demand remains at 0.57x, making it the highest category by subscription multiple but not the main source of incremental Day 2 bidding so far. NII participation has changed only marginally.
Two limitations matter. First, the issue remains open through 28 August, so the present figures are interim. Second, subscription and GMP measure different things. Neither high bidding demand nor a positive GMP establishes fair valuation, business quality, or future returns.
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 |
The IPO consists entirely of a fresh issue, with no Offer for Sale (OFS) component.
Brief Company and Financial Context
Annu Projects is an engineering, procurement, and construction company operating across sewerage infrastructure, telecom infrastructure, gas pipelines, and railway signalling. Sewerage infrastructure accounted for 52.67% of FY2026 revenue from operations, followed by telecom infrastructure at 41.50%.
Revenue from operations rose to ₹241.25 crore in FY2026 from ₹180.06 crore in FY2025, while profit after tax increased to ₹33.03 crore from ₹21.10 crore. The company plans to use about ₹115 crore for working capital and ₹15.41 crore for machinery and equipment. A material consideration is its working-capital intensity, including trade receivable days of 237 in FY2026.
What Happens Next
The next key stage is the remaining bidding period leading into the closing day on 28 August 2026. Investors can monitor whether overall demand moves above full subscription, whether QIB participation changes, whether retail and NII bidding accelerates, and whether the unofficial GMP remains around current levels.
Frequently Asked Questions (FAQs)
Q: How many times is the Annu Projects IPO subscribed on Day 2?
A: The Annu Projects IPO is subscribed 0.41 times overall in the latest available Day 2 data on 26 August 2026. QIBs are at 0.57x, retail investors at 0.41x, and NIIs at 0.37x.
Q: How did Annu Projects IPO demand change from Day 1 to Day 2?
A: Overall subscription increased from 0.34x at the Day 1 close to 0.41x in the latest Day 2 data. Retail recorded the largest movement, rising from 0.28x to 0.41x, while QIB demand remained at 0.57x.
Q: What is the Annu Projects IPO GMP today?
A: The latest clearly timestamped GMP reading used here is ₹4 per share on 26 August 2026. Some other trackers report different figures, so the grey-market signal is not fully consistent. GMP is unofficial and can change quickly.
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, or about 4.0% above the upper band. This is an unofficial calculation and does not guarantee the actual listing price.
Q: Does higher IPO subscription guarantee a premium listing?
A: No. Subscription shows bid quantity relative to shares available, while listing performance can be affected by valuation, business fundamentals, market conditions, and investor sentiment. A high subscription multiple or positive GMP does not guarantee a premium listing.
Disclaimer
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