Annu Projects IPO: Price Band, Dates and Key Details
Annu Projects IPO is set to open for subscription on August 25, 2026, with a price band of ₹94 to ₹99 per share. The public issue will close on August 28, while the shares are expected to list on the BSE and NSE on September 2.
At the upper end of the price band, the IPO could raise about ₹175.06 crore through the fresh issue. Investors considering the issue should look beyond the IPO dates and price band and assess the company’s business, financial performance, use of proceeds, and key risks.
Annu Projects IPO Details at a Glance
| Particulars | Details |
|---|---|
| IPO open date | August 25, 2026 |
| IPO close date | August 28, 2026 |
| Price band | ₹94 to ₹99 per share |
| Face value | ₹10 per share |
| Issue type | Book-built IPO |
| Offer type | Fresh issue |
| Shares offered | About 1.77 crore shares |
| Issue size | About ₹166.22 crore to ₹175.06 crore |
| Lot size | 151 shares |
| Minimum retail investment | ₹14,949 at the upper price band |
| Listing exchanges | BSE and NSE |
| Tentative listing date | September 2, 2026 |
The issue-size range reflects the number of shares offered multiplied by the lower and upper ends of the price band. Axis Direct reports an issue size of about ₹166.22 crore at the lower price, while the upper price of ₹99 takes the potential proceeds to about ₹175.06 crore.
What Is the Annu Projects IPO Price Band?
The Annu Projects IPO price band is ₹94 to ₹99 per equity share. Each share has a face value of ₹10.
For retail investors, the lot size is reported at 151 shares. At the upper end of the price band, one lot would require an investment of:
151 shares × ₹99 = ₹14,949
The final issue price will be determined through the book-building process.
When Will the Annu Projects IPO Open and Close?
The Annu Projects IPO will open on Tuesday, August 25, 2026, and remain available for bidding until Friday, August 28, 2026. The shares are expected to list on the stock exchanges on September 2, subject to completion of the allotment and listing process.
Investors applying through UPI should approve their mandate within the prescribed deadline to ensure that the application remains valid.
What Is the Annu Projects IPO Issue Size?
Annu Projects is offering approximately 1.77 crore new equity shares in the IPO. At the upper price of ₹99, the fresh issue works out to roughly ₹175.06 crore.
The company’s earlier Draft Red Herring Prospectus (DRHP) had proposed a fresh issue of up to 2.20 crore equity shares. The final offer is therefore smaller than the maximum fresh issue originally proposed in the DRHP.
Since the offer consists of newly issued shares rather than an offer for sale, the money raised through the fresh issue goes to the company, after accounting for issue-related expenses.
What Does Annu Projects Do?
Annu Projects Limited is an engineering and infrastructure company with operations focused on essential overhead and underground utility infrastructure.
The company was originally incorporated in 2003 as Annu Infra Construct (India) Private Limited. Its name was later changed to Annu Projects Private Limited, and it became a public limited company in 2024.
Its business is primarily divided into three verticals:
Telecom Infrastructure
Annu Projects undertakes surveying, designing and installation work for telecom infrastructure. This includes laying overhead and underground optical fibre cable networks.
The company says telecom infrastructure accounts for the majority of its revenue. Its customers have included public-sector and private organisations such as Bharat Sanchar Nigam Limited, Bharat Broadband Network Limited and GR Infraprojects Limited.
Sewerage Infrastructure
The company also executes sewerage projects, including:
- Pipe laying
- Construction of manholes
- Sewage treatment plants
- Pumping stations
- Stormwater drainage systems
- Supporting structural facilities
Its projects in this segment include work associated with government-backed urban infrastructure and sanitation programmes.
Gas Pipeline Infrastructure
Annu Projects undertakes gas pipeline projects as another part of its utility infrastructure business. The company states that it has built experience across telecom, sewerage and gas pipeline infrastructure over more than two decades.
How Has Annu Projects Performed Financially?
According to recently reported figures, Annu Projects recorded revenue of around ₹241.2 crore and profit of about ₹33 crore in FY26.
These figures matter because IPO investors should compare the company’s earnings with the valuation implied by the issue price rather than judging an IPO only by its subscription numbers or grey market activity.
Investors should refer to the final offer documents for the complete audited financial statements, including revenue growth, margins, borrowings, cash flows and working-capital requirements.
Why Is Annu Projects Raising Money Through the IPO?
According to its offer documents, Annu Projects plans to use the proceeds from the fresh issue for three main purposes.
1. Purchase of Machinery and Equipment
A portion of the IPO proceeds is intended to fund capital expenditure for purchasing machinery or equipment.
For an EPC and infrastructure company, access to equipment can affect project execution capacity, costs and the ability to handle multiple contracts.
2. Working Capital Requirements
Another part of the proceeds will be used to meet the company’s working capital needs.
Infrastructure businesses can have substantial working-capital requirements because expenses may need to be incurred well before customers release payments.
3. General Corporate Purposes
The remaining eligible proceeds may be allocated to general corporate purposes, subject to applicable regulatory limits and disclosures.
What Are the Strengths of Annu Projects?
Investors evaluating the Annu Projects IPO may consider several aspects of the company’s business.
More Than Two Decades of Operating History
The company traces its operations back to 2003 and has built experience in utility infrastructure projects over that period.
Presence Across Multiple Infrastructure Segments
Rather than relying on one type of project, Annu Projects operates across telecom, sewerage and gas pipeline infrastructure.
This provides some business diversification, although the relative contribution of each segment should still be examined carefully.
Experience With Large Infrastructure Customers
The company has worked with government-linked organisations and private infrastructure companies. Its disclosed customer base includes entities such as BSNL and GR Infraprojects.
Exposure to Infrastructure Spending
Telecom networks, broadband connectivity, sewerage systems and gas distribution can benefit from continued public and private infrastructure spending in India.
That opportunity, however, does not remove project execution, tendering or payment risks.
What Risks Should Investors Check Before Applying?
An IPO’s price band is only one part of the investment decision. Investors should review the Red Herring Prospectus carefully for company-specific risks.
Key areas worth examining include:
- Project concentration: Large infrastructure contracts can make revenue dependent on a limited number of projects or customers.
- Working-capital needs: Delays in customer payments can put pressure on cash flow.
- Execution risk: Cost overruns, project delays and changes in raw-material or labour costs can affect margins.
- Government and PSU exposure: Infrastructure contractors may depend on tenders, approvals and payments involving public-sector entities.
- Competitive bidding: EPC contracts are often awarded through bidding, which can put pressure on pricing and profitability.
- Valuation: A growing business can still be an unattractive investment if the IPO price implies an aggressive valuation.
Investors should compare these factors with the company’s order book, profitability, debt, cash flows and valuation at the final issue price.
Is Annu Projects IPO a Mainboard IPO?
Yes. Annu Projects is expected to list its equity shares on both the BSE and NSE, making it a mainboard IPO rather than an SME-platform issue.
This distinction is useful because mainboard and SME IPOs can differ in areas such as lot sizes, trading mechanics and investor participation.
Should You Apply for the Annu Projects IPO?
The Annu Projects IPO gives investors exposure to an infrastructure contractor operating across telecom, sewerage and gas pipeline projects. Its IPO opens on August 25 with a price band of ₹94 to ₹99 per share.
Before deciding whether to apply, investors should assess the company’s valuation, order book quality, cash flows, working-capital cycle, customer concentration, debt and execution risks. IPO subscription figures or unofficial grey market premiums should not be treated as substitutes for fundamental analysis.
The final Red Herring Prospectus and exchange filings should be the primary sources for making an investment decision.
FAQs About Annu Projects IPO
Q. When is the Annu Projects IPO opening?
The Annu Projects IPO is scheduled to open on August 25, 2026 and close on August 28, 2026.
Q. What is the Annu Projects IPO price band?
The price band has been fixed at ₹94 to ₹99 per equity share.
Q. What is the Annu Projects IPO issue size?
The IPO comprises approximately 1.77 crore fresh shares. The issue works out to around ₹166.22 crore at ₹94 per share and ₹175.06 crore at ₹99 per share.
Q. What is the Annu Projects IPO lot size?
The reported lot size is 151 shares. At the upper price band of ₹99, one lot costs ₹14,949.
Q. Is Annu Projects IPO an OFS or fresh issue?
The IPO is a fresh issue of equity shares. This means the proceeds, after issue expenses, are raised by the company rather than being paid to existing shareholders selling shares.
Q. Where will Annu Projects shares be listed?
Annu Projects shares are proposed to be listed on the BSE and NSE.
Q. What does Annu Projects Limited do?
Annu Projects is an infrastructure company engaged in designing, developing, implementing, operating and maintaining utility infrastructure. Its main business verticals are telecom, sewerage and gas pipelines.
Q. When is the Annu Projects IPO listing date?
The shares are expected to list on September 2, 2026, subject to the completion of the IPO allotment and listing process.
Key Takeaways
- Annu Projects IPO opens on August 25 and closes on August 28, 2026.
- The price band is ₹94 to ₹99 per share.
- The issue comprises roughly 1.77 crore fresh equity shares.
- The issue size ranges from about ₹166.22 crore to ₹175.06 crore, depending on the final issue price.
- The reported lot size is 151 shares, requiring ₹14,949 for one lot at ₹99 per share.
- Annu Projects operates in telecom, sewerage and gas pipeline infrastructure.
- IPO proceeds are intended for machinery and equipment, working capital and general corporate purposes.
- The shares are expected to list on the BSE and NSE on September 2, 2026.
- Investors should review the final offer documents, valuation and business risks before applying.
Disclaimer
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