Annu Projects IPO is a Mainboard Book Built public issue by Annu Projects Limited. The public issue comprises a fresh issue of up to 1,76,83,000 equity shares with a face value of ₹10 per share. There is no Offer for Sale component in the issue. At the upper price band of ₹99 per share, the total Annu Projects IPO issue size is approximately ₹175.06 crore. The company’s equity shares are proposed to be listed on both BSE and NSE.
Annu Projects IPO Price has been fixed in the range of ₹94 to ₹99 per equity share. The IPO opens for subscription on 25 August 2026 and closes on 28 August 2026. The basis of allotment is scheduled for 31 August 2026, while the shares are expected to be credited to successful applicants on 1 September 2026. The proposed listing date is 2 September 2026.
Annu Projects Limited, formerly known as Annu Infra Construct (India) Private Limited, was established in 2003. The company is engaged in the design, development, implementation, operation and maintenance of essential overhead and underground utility infrastructure.
The company’s business is primarily organised across telecom infrastructure, sewerage infrastructure, gas pipeline infrastructure and railway signalling. It has developed project execution capabilities over more than two decades and has worked on infrastructure projects involving optical fibre networks, sewerage systems, gas pipelines and related utility infrastructure.
In the telecom infrastructure business, Annu Projects undertakes surveying, designing and installation of cabling and tower infrastructure as well as overhead and underground optical fibre cable networks. The company has executed projects for public-sector and private-sector customers and has participated in BharatNet-related projects.
The company has also developed experience in sewerage infrastructure, including pipe laying, manhole construction, sewage treatment plants, pumping stations and stormwater drainage systems. Its gas pipeline business includes laying MDPE pipelines and providing infrastructure for domestic and commercial gas connections.
Annu Projects has recently entered the railway signalling vertical and received its first project in this segment in 2026. The company is also pursuing larger infrastructure opportunities through consortium arrangements and government-backed infrastructure programmes.
India’s infrastructure sector continues to benefit from investments in digital connectivity, broadband networks, urban sanitation, water and sewerage infrastructure, gas distribution, transportation and railway modernisation. These areas provide potential opportunities for EPC companies with established execution capabilities.
However, infrastructure and EPC businesses are exposed to project execution delays, working-capital requirements, customer concentration, tender competition, raw-material costs, regulatory requirements and dependence on government and institutional projects. Investors should carefully evaluate the company’s financial performance, order book, working-capital position, valuation and risk factors before making an investment decision.
IPO Details
| Information | Details |
|---|---|
| IPO Name | Annu Projects IPO |
| Company Name | Annu Projects Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹94 to ₹99 Per Share |
| Issue Size | ₹175.06 Crore |
| Fresh Issue | ₹175.06 Crore |
| Offer for Sale | Nil |
| Total Shares Offered | 1,76,83,000 Equity Shares |
| IPO Open Date | 25 August 2026 |
| IPO Close Date | 28 August 2026 |
| Anchor Investor Bidding | 24 August 2026 |
| Basis of Allotment | 31 August 2026 |
| Refund Initiation | 31 August 2026 |
| Shares Credited to Demat Account | 1 September 2026 |
| Listing Date | 2 September 2026 |
| Listing Exchange | BSE & NSE |
| Lot Size | 151 Equity Shares |
| Retail Minimum Investment | ₹14,949 |
| Retail Maximum Investment | ₹1,94,337 |
| S-HNI Minimum Investment | ₹2,09,286 |
| B-HNI Minimum Investment | ₹10,01,583 |
| Registrar | KFin Technologies Limited |
| Book Running Lead Manager | Mefcom Capital Markets Limited |
The company proposes to utilise the net proceeds from the fresh issue primarily for capital expenditure towards purchase of machinery or equipment and funding working-capital requirements. Approximately ₹15.41 crore is proposed for capital expenditure and ₹115 crore for working-capital requirements. The remaining amount is intended for general corporate purposes.
Since the issue consists entirely of a fresh issue, the IPO proceeds will accrue to the company after applicable issue expenses. No selling shareholder will receive proceeds through an Offer for Sale.
Annu Projects IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 24 August 2026 |
| IPO Opening Date | 25 August 2026 |
| IPO Closing Date | 28 August 2026 |
| Basis of Allotment | 31 August 2026 |
| Refund Initiation | 31 August 2026 |
| Shares Credited to Demat Account | 1 September 2026 |
| Listing Date | 2 September 2026 |
The Annu Projects IPO Allotment is scheduled to be finalised on 31 August 2026. Successful applicants are expected to receive shares in their demat accounts on 1 September 2026, followed by the proposed listing on 2 September 2026.
Annu Projects IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | 10% |
| Non-Institutional Investors (NII) | 40% |
| Retail Individual Investors (RII) | 50% |
The final allocation under each investor category will depend on valid applications received during the bidding period and applicable IPO allocation rules.
Annu Projects IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 151 Shares | ₹14,949 |
| Retail Maximum | 13 Lots | 1,963 Shares | ₹1,94,337 |
| S-HNI Minimum | 14 Lots | 2,114 Shares | ₹2,09,286 |
| S-HNI Maximum | 66 Lots | 9,966 Shares | ₹9,86,634 |
| B-HNI Minimum | 67 Lots | 10,117 Shares | ₹10,01,583 |
The application amounts shown above are calculated using the upper Annu Projects IPO Price of ₹99 per equity share.
About Annu Projects Limited
Annu Projects Limited was incorporated in 2003 and was formerly known as Annu Infra Construct (India) Private Limited. The company has more than two decades of experience in executing infrastructure projects.
The company focuses on the development and maintenance of overhead and underground utility infrastructure. Its operations cover telecom infrastructure, sewerage infrastructure and gas pipeline infrastructure, with railway signalling emerging as an additional business vertical.
Annu Projects has developed in-house engineering and project management capabilities for executing projects involving different geographical and technical requirements. The company owns a fleet of machinery and equipment used for activities such as horizontal directional drilling, excavation, optical-fibre splicing, cable testing and pipe-related work.
The telecom infrastructure vertical contributes a significant portion of the company’s business. It has executed optical fibre cable projects across several states and has undertaken operations and maintenance activities for telecom networks.
The company has also completed projects under BharatNet and has participated in large telecom infrastructure programmes. Its project portfolio includes optical fibre installation, network restoration and long-term operations and maintenance work.
In the sewerage segment, the company executes projects involving sewer networks, sewage treatment plants, pumping stations, manholes and drainage infrastructure. It has worked with government-linked infrastructure agencies on projects funded under various public infrastructure programmes.
The gas pipeline business involves laying MDPE pipelines and associated infrastructure for domestic and commercial gas distribution. The company has worked on projects for gas-sector customers in states including Bihar, Jharkhand and Uttar Pradesh.
In 2026, Annu Projects entered the railway signalling vertical through its first project in the segment. The expansion provides an additional avenue for the company to diversify its infrastructure portfolio.
Business Operations
Annu Projects operates across several infrastructure and utility segments.
- Telecom Infrastructure – The company undertakes surveying, designing, installation and maintenance of telecom infrastructure and optical fibre networks.
- Optical Fibre Cable Networks – It lays overhead and underground OFC networks for telecom operators and infrastructure customers.
- BharatNet Projects – The company has participated in BharatNet projects involving optical fibre installation, restoration and network operations and maintenance.
- Sewerage Infrastructure – It executes sewer pipeline laying, manhole construction, sewage treatment plants and pumping-station projects.
- Gas Pipeline Infrastructure – The company undertakes MDPE pipeline laying and related infrastructure for domestic and commercial gas distribution.
- Railway Signalling – The company has entered the railway signalling segment with its first project awarded in 2026.
- Operations & Maintenance – It provides long-term maintenance services for telecom infrastructure and optical fibre networks.
- Engineering & Project Management – The company uses its engineering and project-management capabilities to execute infrastructure projects.
- Horizontal Directional Drilling – Its machinery fleet supports underground utility installation and related infrastructure work.
- Infrastructure Equipment – The company maintains a fleet of machinery and equipment used for project execution.
Industry Overview
India’s infrastructure sector continues to receive significant investment from government agencies, public-sector organisations and private companies.
The expansion of digital connectivity is increasing demand for optical fibre networks, broadband infrastructure and telecom-related services. Government initiatives aimed at improving rural broadband connectivity are also creating opportunities for infrastructure contractors.
The sewerage and wastewater management segment is another important area of infrastructure development. Increasing urbanisation, environmental requirements and government programmes focused on sanitation and water management are supporting demand for sewerage infrastructure.
The expansion of city gas distribution networks is also creating opportunities for companies involved in pipeline installation and related infrastructure work. Greater adoption of natural gas in domestic, commercial and industrial applications can support pipeline infrastructure requirements.
Railway modernisation and signalling upgrades provide another potential growth opportunity. The expansion of the railway signalling business could allow Annu Projects to diversify beyond its traditional telecom, sewerage and gas pipeline activities.
EPC companies can benefit from increasing infrastructure spending, but the sector also has challenges. Projects often require significant working capital, and payments may be linked to project milestones and government or institutional customers.
Competition in infrastructure tenders can also affect margins. Delays in approvals, land availability, project execution, material procurement and customer payments can influence cash flows.
Business Strategy
Annu Projects aims to expand its presence as a diversified infrastructure solutions provider by leveraging its experience in telecom, sewerage, gas pipelines and railway signalling.
The company intends to strengthen its execution capabilities through investments in machinery and equipment. The capital expenditure component of the IPO is expected to support the acquisition of additional equipment required for project execution.
Working-capital funding is another important part of the company’s IPO strategy. EPC projects generally require expenditure on manpower, materials, equipment and subcontracting before payments are received from customers. Additional working capital can therefore support the company’s ability to execute larger projects.
The company also aims to expand its market presence through participation in infrastructure programmes and competitive tenders.
Its experience with BharatNet projects provides a foundation for pursuing additional telecom infrastructure opportunities.
The company is also seeking to diversify its operations through railway signalling and continue expanding its presence in sewerage and gas pipeline infrastructure.
By combining project execution expertise, machinery, engineering capabilities and an expanding infrastructure portfolio, Annu Projects aims to participate in India’s long-term infrastructure development.
Annu Projects IPO Financial Information
A company’s financial performance provides important information about revenue growth, profitability, assets, net worth and borrowing levels.
Annu Projects reported total income of ₹155.42 crore in FY2024, ₹182.35 crore in FY2025 and ₹244.59 crore in FY2026.
Profit After Tax increased from ₹17.39 crore in FY2024 to ₹21.10 crore in FY2025 and ₹33.03 crore in FY2026.
EBITDA increased from ₹28.50 crore in FY2024 to ₹32.19 crore in FY2025 and ₹50.19 crore in FY2026.
Net worth increased from ₹68.93 crore in FY2024 to ₹122.06 crore in FY2025 and ₹155.26 crore in FY2026.
Total borrowings increased from ₹19.69 crore in FY2024 to ₹22.27 crore in FY2025 and ₹52.54 crore in FY2026.
Annu Projects Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | ₹155.42 Crore | ₹182.35 Crore | ₹244.59 Crore |
| EBITDA | ₹28.50 Crore | ₹32.19 Crore | ₹50.19 Crore |
| Profit Before Tax | ₹24.42 Crore | ₹28.21 Crore | ₹46.17 Crore |
| Profit After Tax (PAT) | ₹17.39 Crore | ₹21.10 Crore | ₹33.03 Crore |
| Net Worth | ₹68.93 Crore | ₹122.06 Crore | ₹155.26 Crore |
| Total Assets | ₹161.34 Crore | ₹233.37 Crore | ₹341.82 Crore |
| Total Borrowings | ₹19.69 Crore | ₹22.27 Crore | ₹52.54 Crore |
| EPS | ₹4.07 | ₹4.65 | ₹6.91 |
The company recorded strong financial growth during FY2026. Total income increased from ₹182.35 crore in FY2025 to ₹244.59 crore in FY2026.
PAT increased from ₹21.10 crore to ₹33.03 crore, while EBITDA increased from ₹32.19 crore to ₹50.19 crore during the same period.
The increase in borrowings during FY2026 should also be considered because infrastructure businesses require funding for project execution and working capital.
The IPO’s working-capital allocation is intended to support the company’s future operating requirements and project execution.
Annu Projects IPO Key Performance Indicators (KPIs)
| KPI | FY2026 Value |
|---|---|
| Return on Equity (ROE) | 21.27% |
| Return on Capital Employed (ROCE) | 22.66% |
| Return on Net Worth (RoNW) | 21.27% |
| EBITDA Margin | 20.81% |
| PAT Margin | 13.69% |
| Debt-to-Equity Ratio | 0.34 |
| Earnings Per Share (EPS) | ₹6.91 |
| Post-Issue EPS | ₹5.04 |
| Net Asset Value (NAV) Per Share | ₹32.48 |
| P/E Ratio at Upper Price Band | 19.64x |
The company reported a ROE and RoNW of 21.27% and ROCE of 22.66% in FY2026.
Its EBITDA margin stood at 20.81%, while PAT margin was 13.69%.
The FY2026 EPS was ₹6.91 on a pre-issue basis. Based on the post-issue share capital, EPS is approximately ₹5.04.
At the upper Annu Projects IPO Price of ₹99, the post-issue P/E works out to approximately 19.64 times based on the post-issue EPS.
The company’s NAV was approximately ₹32.48 per share. Investors should compare these valuation indicators with listed companies operating in similar infrastructure and EPC segments.
Objects of the Annu Projects IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Funding capital expenditure requirements for the purchase of machinery or equipment.
- Funding working-capital requirements.
- General corporate purposes.
Approximately ₹15.41 crore is proposed to be utilised for purchasing machinery or equipment.
Approximately ₹115 crore is proposed for working-capital requirements.
The remaining net proceeds, after issue-related expenses and the stated allocations, are intended for general corporate purposes.
As the issue consists entirely of a fresh issue, the proceeds are intended to strengthen the company’s financial resources and support future business operations.
Annu Projects IPO Listing Performance
Annu Projects IPO is proposed to list on BSE and NSE on 2 September 2026.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | 2 September 2026 |
| Issue Price | To be finalised within ₹94–₹99 |
| Listing Price | To be updated after listing |
| Listing Gain | To be updated after listing |
| Listing Gain (%) | To be updated after listing |
The final listing price will depend on market demand, investor sentiment, market conditions and the level of IPO subscription.
Investors should not treat grey-market indications as a guarantee of the actual listing price. Long-term performance will depend on project execution, order inflows, profitability, working-capital management and the company’s ability to expand its infrastructure business.
Annu Projects IPO Subscription Status
Annu Projects IPO opens for subscription on 25 August 2026 and closes on 28 August 2026.
The subscription figures will indicate the level of investor participation received from QIB, NII and retail investors.
Annu Projects IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Employee Category | Not Applicable |
| Total Subscription | To be updated |
The final Annu Projects IPO Subscription Status will be available after the IPO closes.
Annu Projects IPO GMP
Annu Projects IPO GMP is an unofficial indicator of grey-market sentiment and is not regulated by SEBI, BSE or NSE.
The reported grey-market premium has remained relatively modest ahead of the IPO. On 23 August 2026, the reported GMP was around ₹4 per share, implying an indicative price of approximately ₹103 against the upper issue price of ₹99.
At a ₹4 GMP, the implied premium is approximately 4.04% over the upper price band.
Grey-market premiums can change quickly before listing and should not be considered a guarantee of listing gains.
Investors should therefore consider Annu Projects IPO GMP only as an unofficial market indicator and should give greater importance to the company’s financial performance, business model, order execution, working-capital requirements, valuation and industry outlook.
Annu Projects IPO Review
Annu Projects IPO provides investors with an opportunity to invest in an established infrastructure EPC company with more than two decades of experience.
The company operates across telecom infrastructure, sewerage infrastructure, gas pipeline infrastructure and railway signalling. This provides some diversification across different infrastructure segments.
The telecom business remains an important part of the company’s operations. Annu Projects has experience in optical fibre cable installation, network restoration and operations and maintenance.
Its participation in BharatNet-related projects is another notable aspect of the business. The company has executed optical fibre projects across several states and has undertaken operations and maintenance activities for large telecom networks.
The sewerage infrastructure business provides exposure to urban sanitation and wastewater infrastructure. The company has experience in sewer pipeline laying, manholes, sewage treatment plants and pumping stations.
The gas pipeline business provides exposure to the expansion of city gas and related pipeline networks. The company has undertaken MDPE pipeline projects and associated gas distribution infrastructure.
The company’s entry into railway signalling in 2026 provides another potential growth avenue. Diversification into railway infrastructure could reduce dependence on its traditional telecom business over the longer term.
Financial performance has also been encouraging. Total income increased from ₹155.42 crore in FY2024 to ₹244.59 crore in FY2026.
PAT increased from ₹17.39 crore to ₹33.03 crore during the same period. EBITDA increased from ₹28.50 crore to ₹50.19 crore.
The company’s return ratios are also notable. FY2026 ROE and RoNW stood at 21.27%, while ROCE was 22.66%.
The IPO is entirely a fresh issue, which means the company will receive the issue proceeds rather than existing shareholders selling shares through an OFS.
A significant portion of the funds is proposed to support working capital. This is relevant because EPC businesses often require substantial funds to execute projects before receiving milestone-based payments.
The company also plans to invest ₹15.41 crore in machinery and equipment. Additional equipment can support project execution capacity and help the company participate in larger projects.
However, investors should also consider the risks associated with the infrastructure EPC industry.
The company operates in a competitive tender-based market. Pricing pressure can affect margins, while project delays can increase execution costs.
Working-capital requirements are another important consideration. Although the IPO will provide additional funds, the company’s borrowings increased to ₹52.54 crore in FY2026.
The company also has exposure to government and institutional customers. Changes in government spending, project awards, payment cycles or infrastructure policies could influence revenue and cash flows.
Customer concentration and dependence on specific infrastructure programmes can also create business risks.
At the upper price band, the post-issue P/E is approximately 19.64 times. Investors should compare this valuation with peers in telecom infrastructure, EPC, civil construction and utility infrastructure.
Overall, Annu Projects has a diversified infrastructure business, established execution experience, improving financial performance and opportunities from telecom, sewerage, gas pipelines and railway signalling.
Investors should nevertheless assess the company’s valuation, working-capital requirements, borrowings, order pipeline, customer concentration and project execution risks before making an investment decision.
Annu Projects IPO Strengths
- More than two decades of infrastructure project execution experience.
- Diversified presence across telecom, sewerage and gas pipeline infrastructure.
- New opportunity in railway signalling infrastructure.
- Experience in optical fibre cable network projects.
- Participation in BharatNet-related infrastructure projects.
- Strong engineering and project-management capabilities.
- Fleet of machinery and equipment supporting project execution.
- Experience with public-sector and private-sector customers.
- Strong revenue growth in FY2026.
- PAT increased significantly during FY2026.
- EBITDA increased strongly during FY2026.
- Healthy ROE and ROCE.
- Entire IPO is a fresh issue, allowing proceeds to accrue to the company.
- IPO proceeds will support working capital and capital expenditure.
- Opportunities from India’s continued infrastructure spending.
- Exposure to digital connectivity and broadband expansion.
- Opportunities in sewerage and urban infrastructure development.
- Potential growth from gas pipeline infrastructure.
- Potential diversification through railway signalling.
Annu Projects IPO Risk Factors
- EPC and infrastructure projects can face execution delays.
- The business operates in a competitive tender-driven environment.
- Working-capital requirements are significant.
- Delayed customer payments can affect cash flows.
- Dependence on government and institutional projects may affect business visibility.
- Changes in infrastructure spending can influence order inflows.
- Raw-material and project costs may affect profitability.
- Project delays can increase execution costs.
- Competition may result in lower project margins.
- Telecom infrastructure contributes a significant portion of revenue.
- Customer concentration may create business risks.
- Borrowings increased during FY2026.
- Infrastructure projects can require substantial upfront investment.
- Regulatory and environmental approvals may affect project execution.
- Railway signalling is a relatively new business vertical for the company.
- Expansion into new infrastructure segments involves execution risks.
- Large projects may require additional working capital beyond IPO proceeds.
- Changes in government policies and infrastructure programmes may affect demand.
- Any deterioration in financial performance could affect valuation after listing.
Annu Projects IPO Promoters
The promoters of Annu Projects Limited are Sanjay Kumar Sarraf and Krishna Ranjan.
Sanjay Kumar Sarraf is the Chairman and Managing Director of the company and has been associated with the business since its early years.
Krishna Ranjan is a promoter and Whole-Time Director. The promoters have been involved in the company’s development and expansion across telecom, sewerage and gas pipeline infrastructure.
The promoter and promoter group held approximately 89.11% of the company’s pre-issue share capital. The promoter holding is expected to reduce after completion of the IPO because of the fresh issue.
Annu Projects IPO Promoters Details
| Promoter | Designation |
|---|---|
| Sanjay Kumar Sarraf | Chairman & Managing Director |
| Krishna Ranjan | Promoter & Whole-Time Director |
The pre-issue promoter and promoter group shareholding was approximately 89.11%.
Annu Projects IPO Management Team
Annu Projects is managed by a team with experience in infrastructure execution, finance, corporate management and project operations.
| Name | Designation |
|---|---|
| Sanjay Kumar Sarraf | Chairman & Managing Director |
| Krishna Ranjan | Whole-Time Director |
| Rajan | Whole-Time Director |
| Mayank Agarwal | Chief Financial Officer |
| Charumita Bhutani | Company Secretary & Compliance Officer |
| Fareed Ahmed | Independent Director |
| Nalini Shastri Vanjani | Independent Director |
| Radhakrishnan Nagarajan | Independent Director |
The management team is responsible for project execution, financial management, corporate governance, infrastructure expansion and strategic development.
Annu Projects IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, coordinating refunds, crediting shares to successful applicants and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | https://ipostatus.kfintech.com |
| IPO Allotment Status | https://ipostatus.kfintech.com |
| Contact Number | +91 40 6716 2222 / 1800 309 4001 |
| Email ID | [email protected] |
Annu Projects IPO Lead Manager Details
The Book Running Lead Manager is responsible for managing the IPO process, coordinating regulatory requirements and assisting the company throughout the public issue.
| Particular | Details |
|---|---|
| Lead Manager | Mefcom Capital Markets Limited |
| Contact Number | +91 11 4650 0500 |
| IPO Contact Email | [email protected] |
| Investor Grievance Email | [email protected] |
Annu Projects Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Annu Projects Limited |
| Registered & Corporate Office | B-1, Plot No. 11, Local Shopping Complex, Vasant Kunj, South Delhi, New Delhi – 110070 |
| Website | https://annuprojects.com |
| Email ID | [email protected] / [email protected] |
| Contact Number | +91 11 40114238 / 37 |
How to Check Annu Projects IPO Allotment Status
Investors can check the Annu Projects IPO Allotment Status after the basis of allotment is finalised through the registrar’s website or stock exchange facilities.
Through KFin Technologies Limited
- Visit the official KFin Technologies IPO allotment facility.
- Select Annu Projects IPO from the IPO list.
- Choose PAN Number, Application Number or DP/Client ID.
- Enter the required details.
- Submit the information to view the allotment status.
Through BSE
- Visit the official BSE IPO application status facility.
- Select the relevant IPO.
- Enter the PAN Number or application details.
- Complete the required verification.
- Submit the details to check the allotment status.
Through NSE
- Visit the official NSE IPO bid verification facility.
- Select the relevant IPO.
- Enter the required application details.
- Complete the verification process.
- Submit the details to view the application status.
The Annu Projects IPO Allotment is scheduled for 31 August 2026, while shares are expected to be credited to successful applicants on 1 September 2026. The proposed listing date is 2 September 2026.
Annu Projects IPO Conclusion
Annu Projects IPO provides investors with an opportunity to invest in an infrastructure EPC company with more than two decades of experience in telecom, sewerage and gas pipeline infrastructure.
The company has developed capabilities in optical fibre network installation, underground utility infrastructure, sewerage projects, gas pipeline construction and operations and maintenance services.
Its entry into railway signalling provides an additional growth opportunity and could help diversify its business over time.
The company’s financial performance has shown strong improvement. Total income increased from ₹155.42 crore in FY2024 to ₹244.59 crore in FY2026, while PAT increased from ₹17.39 crore to ₹33.03 crore.
EBITDA also increased from ₹28.50 crore in FY2024 to ₹50.19 crore in FY2026. The company reported ROE of 21.27% and ROCE of 22.66% for FY2026.
The IPO is entirely a fresh issue, and a substantial portion of the proceeds will be used for working capital. The company also plans to invest ₹15.41 crore in machinery and equipment.
However, investors should consider the risks associated with EPC businesses, including project execution, working-capital requirements, competition, customer concentration, payment delays and dependence on infrastructure spending.
The increase in borrowings during FY2026 should also be monitored, particularly as the company’s business expands and requires additional working capital.
At the upper price band of ₹99, the post-issue P/E is approximately 19.64 times. Investors should compare this valuation with relevant listed infrastructure and EPC companies and assess whether the company’s expected growth justifies the valuation.
Overall, Annu Projects has an established infrastructure execution platform, improving financial performance, diversified business opportunities and exposure to India’s long-term infrastructure development.
Investors should carefully evaluate the Annu Projects IPO Price, financial performance, valuation, business strategy, order pipeline and risk factors before making an investment decision.
Annu Projects IPO FAQs
What is Annu Projects IPO?
Annu Projects IPO is the Mainboard public issue of Annu Projects Limited, an infrastructure EPC company engaged in telecom, sewerage, gas pipeline and railway signalling infrastructure.
What is the Annu Projects IPO Price?
The Annu Projects IPO Price band is ₹94 to ₹99 per equity share.
What is the issue size of Annu Projects IPO?
The total issue size is approximately ₹175.06 crore and consists entirely of a fresh issue of up to 1,76,83,000 equity shares.
What is the Annu Projects IPO Lot Size?
The Annu Projects IPO Lot Size is 151 shares. At the upper price band of ₹99, the minimum retail investment is ₹14,949.
When does Annu Projects IPO open and close?
Annu Projects IPO opens on 25 August 2026 and closes on 28 August 2026.
What is the Annu Projects IPO GMP?
The reported Annu Projects IPO GMP was around ₹4 per share on 23 August 2026. GMP is unofficial and can change before listing, so it should not be treated as a guarantee of listing gains.
What is the Annu Projects IPO Subscription Status?
The Annu Projects IPO Subscription Status will be updated as bidding progresses from 25 August to 28 August 2026. The final subscription figures will be available after the IPO closes.
When is the Annu Projects IPO Allotment?
The Annu Projects IPO Allotment is scheduled for 31 August 2026. Shares are expected to be credited to successful applicants on 1 September 2026.
Who is the registrar for Annu Projects IPO?
KFin Technologies Limited is the registrar to the Annu Projects IPO.
What does Annu Projects Limited do?
Annu Projects Limited is an infrastructure EPC company involved in telecom infrastructure, optical fibre networks, sewerage infrastructure, gas pipelines, operations and maintenance services, and railway signalling projects.
