Annu Projects IPO 2026: Price Band, GMP, Subscription, Financials & Key Details

The Annu Projects IPO is scheduled to open for subscription on August 25, 2026, and close on August 28, 2026. The IPO is a ₹175.06 crore Mainboard Book Build Issue, comprising an entirely fresh issue of ₹175.06 crore with no Offer for Sale (OFS).

The IPO price band has been fixed at ₹94 to ₹99 per share, with a face value of ₹10 per equity share. Retail investors can apply for a minimum of 151 shares, requiring an investment of ₹14,949 at the upper price band.

The shares are proposed to be listed on both the NSE and BSE on September 2, 2026.

Annu Projects Limited is an engineering, procurement and construction (EPC) company engaged in the development, implementation, operation and maintenance of essential overhead and underground utility infrastructure across telecom, sewerage and gas pipeline sectors.

The company serves customers across multiple infrastructure segments and has a strong project execution track record, supported by an established order book.

In this article, we cover the Annu Projects IPO details, GMP, IPO timeline, lot size, subscription status, reservation, financial performance, business model, IPO objectives, strengths, risks, peer comparison, allotment and key investor considerations.

Annu Projects IPO Details

Annu Projects IPO Timeline

All dates are tentative and subject to change.

Annu Projects IPO GMP 

As of August 20, 2026, the Annu Projects IPO GMP is ₹0.

At a GMP of ₹0, the estimated listing price is around ₹99 per share, equal to the upper end of the IPO price band.
GMP is an unofficial and unregulated market indicator. It can change before listing and should not be considered a guaranteed indication of the actual listing price.

Annu Projects IPO Subscription Status

The Annu Projects IPO will open for subscription on August 25, 2026 and close on August 28, 2026.

The live subscription data is currently unavailable because bidding has not started.

The subscription figures will be updated once bidding begins.

Annu Projects IPO Day-wise Subscription Trend

What is the Current Subscription Data for Annu Projects?

The live subscription data for the Annu Projects IPO is currently unavailable because the IPO has not opened for bidding.

Once the issue opens, subscription figures will be updated based on bids received from QIB, NII and Retail investors.

Annu Projects IPO Lot Size

The minimum bid is 151 shares, and investors can bid in multiples of 151 shares.

Annu Projects IPO Reservation

Annu Projects Financial Performance

Annu Projects has reported growth in revenue and profitability during the reported financial periods.

The company's total income increased from ₹155.42 crore in FY24 to ₹182.35 crore in FY25, while PAT increased from ₹17.39 crore to ₹21.10 crore.
EBITDA also increased from ₹28.50 crore in FY24 to ₹32.19 crore in FY25, indicating improvement in operating profitability.
The company's net worth increased substantially from ₹68.93 crore in FY24 to ₹122.06 crore in FY25.

FY26 Financial Update

The latest standalone financial data provided for FY26 shows further growth.
 

Based on the FY26 data, the company continued to expand its business, with total income reaching ₹244.59 crore and PAT reaching ₹33.03 crore.

Annu Projects Key Financial Ratios

Based on the provided financial data:

The company reported a ROCE of 30.07% and ROE of 25.23% based on the provided FY24 KPI data, indicating strong returns relative to its capital and net worth.

Annu Projects IPO Valuation

Based on the provided IPO data:

The provided source data lists the company's standalone EPS at ₹6.91 and NAV at ₹32.48.
At the upper price band of ₹99, investors should assess the implied valuation against the company's earnings, NAV, growth rate and comparable listed infrastructure companies.

What is Annu Projects Ltd.?

Annu Projects Limited is an engineering, procurement and construction (EPC) company engaged in the design, development, implementation, operation and maintenance of utility infrastructure.

The company's business is focused on three key verticals: telecom infrastructure, sewerage infrastructure and gas pipeline infrastructure.

Key Business Verticals

Telecom Infrastructure:

Annu Projects undertakes surveying, designing and installation of cabling and tower infrastructure for communication, automation and electronic security systems. Its customers include Bharat Sanchar Nigam Limited, A2Z Infra Engineering Limited, Bharat Broadband Network Limited and G R Infraprojects Limited.

Sewerage Infrastructure:

The company undertakes pipe laying, construction of manholes, sewerage treatment plants, pumping stations and other structural infrastructure.

Gas Pipeline Infrastructure:

Annu Projects is involved in laying MDPE pipelines ranging from 20 mm to 125 mm in diameter and has executed around 38,300 GI house connections for domestic and commercial gas supply. Its customers include Indraprastha Gas Limited, Gujarat Gas Limited and GAIL India Limited.

As of March 31, 2025, the company had 32 ongoing projects worth ₹1,362.09 crore, comprising 5 telecom infrastructure projects, 14 sewerage projects and 13 gas pipeline projects.

Competitive Strengths

• Expertise in EPC projects focused on utility infrastructure
• Integrated project management and execution capabilities
• Strong order book supporting future revenue visibility
• Consistent financial performance
• Experienced leadership and management team
• Presence across telecom, sewerage and gas pipeline infrastructure

Annu Projects IPO Objectives

The company proposes to utilise the net proceeds from the fresh issue primarily towards capital expenditure, working capital requirements and general corporate purposes.

Annu Projects IPO Peer Comparison

The company's peer comparison based on DRHP/RHP data is as follows:
 

Peer financial metrics are based on the data provided in the company's DRHP/RHP.

Annu Projects has a reported RoNW of 21.27%, placing it above some of the listed peers, although the companies operate across different infrastructure segments and have different business scales.

Competitive Strengths of Annu Projects

Diversified Infrastructure Expertise

Annu Projects operates across telecom, sewerage and gas pipeline infrastructure, reducing its dependence on a single infrastructure vertical.

Strong Order Book

As of March 31, 2025, the company had 32 ongoing projects worth ₹1,362.09 crore, providing visibility into its project execution pipeline.

Integrated Project Execution

The company's EPC capabilities cover various stages of project execution, including engineering, procurement, construction and commissioning.

Established Customer Base

The company has worked with customers including BSNL, Bharat Broadband Network, Indraprastha Gas, Gujarat Gas and GAIL, among other infrastructure and industrial organisations.

Experienced Management

The company has an experienced leadership team with knowledge of EPC project execution and utility infrastructure development.

Risks Investors Should Consider

Dependence on Infrastructure Spending

The company's growth is closely linked to infrastructure spending and project opportunities in telecom, sewerage and gas pipeline sectors.

Working Capital Requirements

A significant portion of the IPO proceeds is proposed to be used for working capital. EPC businesses generally require substantial working capital to execute projects and manage receivables.

Project Execution Risk

Delays in obtaining approvals, procurement, construction or commissioning can affect project timelines, revenue recognition and profitability.

Customer and Order Concentration

Dependence on large institutional and infrastructure customers could create risks if major contracts are delayed, cancelled or not renewed.

Higher Borrowings

The company's total borrowings increased from ₹22.27 crore in FY25 to ₹52.54 crore in the provided FY26 financial data. Investors should monitor the company's leverage and interest costs.

Competition

The EPC and infrastructure industry has several established players. Competitive bidding can put pressure on project margins and order acquisition.

Should You Invest in Annu Projects IPO?

Annu Projects provides investors exposure to India's infrastructure and EPC sector, with operations across telecom infrastructure, sewerage and gas pipeline projects.

The company has a diversified business model, an established customer base and a sizeable project pipeline. As of March 31, 2025, it had 32 ongoing projects worth ₹1,362.09 crore.

Financial performance has also improved, with total income increasing to ₹244.59 crore and PAT reaching ₹33.03 crore in the provided FY26 financial data. The company also reported strong return ratios in the available KPI data.

However, investors should consider the company's working capital requirements, project execution risks, infrastructure-sector dependence and increase in borrowings before making an investment decision.

The current GMP of ₹0 indicates no unofficial premium over the upper issue price of ₹99 as of August 20, 2026. GMP can change before listing and should not be treated as a guaranteed indicator of listing performance.

Investors should evaluate the IPO based on its fundamentals, valuation, order book, financial performance and risk factors rather than relying solely on GMP.

Annu Projects IPO Allotment Status

The allotment of shares for the Annu Projects IPO is expected to be finalized on August 31, 2026.

Applicants can check their IPO allotment status after it is declared through the official registrar, KFin Technologies Ltd.

How to Check Annu Projects IPO Allotment Status?

• Visit the KFin Technologies IPO allotment page.
• Select Annu Projects from the issuer list.
• Choose PAN, application number or DP ID/client ID.
• Enter the required details.
• Click on the search option.
• The allotment status will be displayed on the screen.
• Investors can also receive allotment and refund updates through their registered bank, broker, email or SMS.

Annu Projects IPO Registrar

• Registrar: KFin Technologies Ltd.
• Website: KFin Technologies IPO Status
• Phone: 040-79615565
• Email: annuprojects.ipo@kfintech.com

The registrar is responsible for processing IPO applications, finalizing the basis of allotment, crediting shares to successful applicants and processing refunds.

Annu Projects IPO Lead Manager

The book-running lead manager for the IPO is:

Mefcom Capital Markets Ltd.

Annu Projects Company Details

• Registered Office:
  Annu Projects Ltd.
  B-1, Plot No. 11,
  Local Shopping Complex, Vasant Kunj,
  South Delhi, New Delhi – 110070
• Website: Annu Projects
• Phone: +91 11 40114238
• Email: cs@annuprojects.com

Summary

The Annu Projects IPO is a ₹175.06 crore Mainboard Book Build Issue, consisting entirely of a ₹175.06 crore fresh issue with no OFS. The IPO price band is fixed at ₹94–₹99 per share, with a minimum retail investment of ₹14,949.

Annu Projects is an EPC company engaged in telecom infrastructure, sewerage infrastructure and gas pipeline projects. As of March 31, 2025, the company had 32 ongoing projects worth ₹1,362.09 crore.

The company reported ₹182.35 crore total income and ₹21.10 crore PAT in FY25, while the provided FY26 standalone financial data shows total income of ₹244.59 crore and PAT of ₹33.03 crore.

A substantial portion of the IPO proceeds will be used for working capital requirements, while ₹14.03 crore is proposed for machinery and equipment.

At present, the Annu Projects IPO GMP is ₹0, indicating no unofficial premium over the upper issue price of ₹99 as of August 20, 2026.

Investors should carefully evaluate the company's order book, financial performance, valuation, working capital requirements, leverage, project execution capabilities and associated risks before making an investment decision.

Frequently Asked Questions (FAQs)

What is the Annu Projects IPO?

Annu Projects IPO is a ₹175.06 crore Mainboard Book Build IPO, consisting entirely of a ₹175.06 crore fresh issue.

What are the Annu Projects IPO dates?

The IPO will open on August 25, 2026, and close on August 28, 2026.

What is the Annu Projects IPO price band?

The price band is fixed at ₹94 to ₹99 per share.

What is the lot size of Annu Projects IPO?

The minimum IPO lot size is 151 shares. At the upper price band of ₹99, the minimum investment is ₹14,949.

What is the Annu Projects IPO GMP today?

As of August 20, 2026, the Annu Projects IPO GMP is ₹0.

When will Annu Projects IPO allotment take place?

The tentative IPO allotment date is August 31, 2026.

When will Annu Projects IPO list?

The shares are expected to list on September 2, 2026, on both NSE and BSE.

What is the total issue size of Annu Projects IPO?

The total IPO size is ₹175.06 crore, consisting entirely of a fresh issue.

What does Annu Projects do?

Annu Projects is an EPC company engaged in telecom infrastructure, sewerage infrastructure and gas pipeline projects.

What is the minimum investment required for the IPO?

Retail investors need to apply for at least 151 shares, requiring an investment of ₹14,949 at the upper price band of ₹99 per share.

Who is the registrar of Annu Projects IPO?

The registrar of the Annu Projects IPO is KFin Technologies Ltd.

Who is the lead manager of Annu Projects IPO?

Mefcom Capital Markets Ltd. is the book-running lead manager for the Annu Projects IPO.

Disclaimer

This article is intended for informational and educational purposes only and should not be considered financial or investment advice. IPO details, Grey Market Premium (GMP), subscription figures, allotment dates and listing timelines are subject to change. Investors should carefully read the Red Herring Prospectus (RHP), verify the latest information from official sources and consult a qualified financial advisor before making any investment decision. Investments in the stock market are subject to market risks.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.