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Annu Projects IPO
Price Band
₹94.0–99.0
Issue Size
₹175.06 Cr
Lot Size
151 shares
Min Investment
₹14,949
GMP
₹-7.0 (-7.07%)
Issue Price
₹99.0
Annu Projects IPO AI Summary
- Annu Projects IPO is listed on BSE, NSE in the Civil Construction sector.
- Price band: ₹94.0–₹99.0 per share, lot size 151 shares (min. investment ₹14,949).
- Subscription window: 25 Aug–28 Aug 2026, listing on 02 Sep 2026.
- Current GMP is ₹-7.0 (-7.07%), an estimated listing price of ₹92 — unofficial and can change daily.
Annu Projects Limited is set to launch its IPO with a price band of ₹94.0 to ₹99.0, aiming to raise ₹175.06 Cr. The company has shown strong revenue and profit growth, making it an interesting option for investors considering exposure to the civil construction sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Annu Projects IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 28 Aug 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
2.93x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
1.72x
|
1.72x |
| NII (HNI) |
3.55x
|
3.55x |
| ↳ bNII (>₹10L) |
3.09x
|
3.09x |
| ↳ sNII (<₹10L) |
4.48x
|
4.48x |
| Retail (RII) |
2.68x
|
2.68x |
| Total | 2.93x | 2.93x |
Auto-updated every 5 min · As of 28th Aug 2026 18:55
Annu Projects IPO Grey Market Premium (GMP) Today
GMP
₹-7.0
GMP %
-7.07%
Est. Listing
₹92.0
Updated: 02 Sep 2026 06:00
GMP Trend (Last 13 Days)
About the Company
Annu Projects Limited is an engineering, procurement, and construction (EPC) company. It is engaged in the design, development, implementation, operations and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure vertical and gas pipeline vertical. Key Verticals: Telecom Infrastructure: Surveying, designing, and installing cabling and tower infrastructures for communication, automation, and electronic security system. Its customers include Bharat Sanchar Nigam Limited, A2Z Infra Engineering Limited, Bharat Broadband Network Limited, G R Infraprojects Limited. Sewerage Infrastrucutre: Pipe laying, construction of manholes, construction of sewerage treatment plants, construction of pumping stations, and construction of structural facilities, etc. Gas Pipeline: Laying MDPE ranging from 20 mm to 125 mm in diameter, along with 38,300 GI house connections for domestic and commercial gas supply. Served customers, including Indraprastha Gas Limited, Gujarat Gas Limited and GAIL India Limited. As on March 31, 2025, it has 32 ongoing projects worth Rs 13,620.90 million, including 5 telecom infra projects, 14 sewerage, and 13 gas pipeline projects. Competitive Strengths Engineering, procurement and commissioning projects with special focus on underground and overhead utilities infrastructure Project management with integrated execution capabilities Strong order book Strong and consistent financial performance Experienced leadership and strong management team
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 341.82 | 233.37 | 161.34 |
| Total Income | 244.59 | 182.35 | 155.42 |
| Profit After Tax | 33.03 | 21.10 | 17.39 |
| EBITDA | 50.19 | 32.19 | 28.50 |
| NET Worth | 155.26 | 122.06 | 68.93 |
| Reserves and Surplus | 107.45 | 74.25 | 66.39 |
| Total Borrowing | 52.54 | 22.27 | 19.69 |
Key Ratios
EPS
₹6.91
NAV
₹25.53
ROE
17.29%
ROCE
20.59%
RoNW
17.29%
P/B Value
3.88
P/E Ratio
14.33
Market Cap
₹648.38 Cr
PAT Margin
11.72%
Debt/Equity
0.20
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Suyog Telematics | 42.5 | 12.88% | 16.11 | 54.7 | 52.4 |
| EMS | 190.03 | 8.62% | 24.65 | 16.3 | 16.3 |
| Bondada Engineering | 62.35 | 28.82% | 16.6 | 18.28 | 18.25 |
| Likhitha Infrastructure | 104.47 | 9.37% | 23.17 | 9.94 | 9.94 |
| Annu Projects This IPO | 32.48 | 21.27% | — | 6.91 | 6.91 |
Promoters
Sanjay Kumar Sarraf, Krishna Ranjan
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding capital expenditure requirements of Company for purchase of machinery or equipment 15.41 2 Funding working capital requirements of the Company 115.00 3 General Corporate Purposes 24.16 4 Issue Expenses 20.49 Total 175.06
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹155.42 Cr for the period ending 31 Mar 2024, increasing to ₹182.35 Cr by 31 Mar 2025, and further rising to ₹244.59 Cr by 31 Mar 2026. This shows a consistent upward trend in revenue over the reported periods.
Profit Trend
Profit after tax was ₹17.39 Cr for the period ending 31 Mar 2024, growing to ₹21.10 Cr by 31 Mar 2025, and reaching ₹33.03 Cr by 31 Mar 2026. This indicates a positive growth trajectory in profitability across the periods.
Valuation
Priced at a P/E ratio of 14.33 at the issue price, Annu Projects' implied P/E is lower compared to its peers, which trade within a range of 16.11 to 24.65.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the premium at which shares are expected to trade in the unofficial market before listing. A negative GMP suggests that the shares may be expected to list below the issue price.
Subscription Demand
As of 28th Aug 2026, the IPO was subscribed 2.93 times overall. The breakdown shows that Qualified Institutional Buyers (QIBs) subscribed 1.72 times, Non-Institutional Investors (NIIs) subscribed 3.55 times, and Retail Individual Investors (RIIs) subscribed 2.68 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may consider avoiding IPOs that exhibit high volatility or uncertain market conditions.
IPO Timeline, Explained
The IPO opens for subscription on August 25, 2026, and closes on August 28, 2026. Allotment of shares will be finalized by August 31, 2026, with the listing date scheduled for September 2, 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market conditions, demand for the stock, and overall investor sentiment. It is important to consider that a negative GMP may indicate potential listing losses.
This evaluation is generated from Annu Projects's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Annu Projects IPO GMP today?
Annu Projects IPO GMP today is ₹-7.0 (-7.07%), indicating an estimated listing price of ₹92. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Annu Projects IPO?
The price band of Annu Projects IPO is ₹94.0–₹99.0 per share.
When does Annu Projects IPO open and close?
Annu Projects IPO opens on 25 August 2026 and closes on 28 August 2026.
When does Annu Projects IPO list on the stock exchange?
Annu Projects IPO listed on 02 September 2026 at ₹92.0.
What is the lot size for Annu Projects IPO?
The lot size for Annu Projects IPO is 151 shares, requiring a minimum investment of ₹14,949.
What is the price band for the IPO?
The price band for the IPO is ₹94.0 to ₹99.0.
What is the minimum investment required?
The minimum investment required is ₹14,949.
What is the lot size for the IPO?
The lot size for the IPO is 151 shares.
When is the listing date?
The listing date is September 2, 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium at which shares may trade in the grey market before listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Aug 2026
Close
28 Aug 2026
Allotment
31 Aug 2026
Listing
02 Sep 2026
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