ANNU PROJECTS LTD IPO: Company Review, Subscription and Allotment Updates
2026-08-24 — Company overview and issue details ANNU PROJECTS LTD IPO (ABOUT THE COMPANY) ANNU PROJECTS LTD – COMPANY BACKGROUND Annu Projects Ltd is an engineering, procurement, and construction (EPC) company engaged in overhead and…
2026-08-24 — Company overview and issue details
ANNU PROJECTS LTD IPO (ABOUT THE COMPANY)
ANNU PROJECTS LTD – COMPANY BACKGROUND
Annu Projects Ltd is an engineering, procurement, and construction (EPC) company engaged in overhead and underground utilities. Its infrastructure portfolio includes telecom infrastructure, sewerage infrastructure, and gas infrastructure. For telecom sector, Annu Projects Ltd does surveying, designing, and installing cabling and tower infrastructure. It caters to BSNL and others. In sewerage infrastructure, Annu Projects Ltd is into pipe laying constructing manholes, sewerage treatment plants and pumping stations. In gas pipeline segment, Annu Projects is into laying MDPE pipes, and GI housing connections for CGDs. The company has ongoing projects valued at ₹1,959 crore as of June 2026.
The promoters of Annu Projects Ltd are Sanjay Kumar Saraf and Krishna Ranjan. The IPO will be entirely a fresh issue of shares. The fresh issue funds will be used for funding capex for purchase of equipment & machinery, funding working capital needs, and for general corporate purposes. There is no offer for sale (OFS) component in the IPO. The issue is being lead-managed by Mefcom Capital Markets Ltd; while KFIN Technologies Ltd (KFINTECH) is the registrar to the IPO.
HIGHLIGHTS OF THE IPO ISSUE OF ANNU PROJECTS LTD
Here are the key highlights of the public issue of Annu Projects Ltd.
The IPO is open from August 25th, 2026 to August 28th, 2026. It has a face value of ₹10 per share and the IPO price band has been fixed in the range of ₹94 to ₹99 per share.
The IPO of Annu Projects Ltd will be entirely a fresh issue of shares with no offer for sale (OFS) of shares by the shareholders of the company.
The Fresh Issue portion of the IPO comprises the issue of 1,76,83,000 shares (176.83 lakh shares), which at the upper price band of ₹99 per share, translates into a fresh issue size of ₹175.06 crore.
Since there is no OFS component, the overall IPO will also comprise only of the fresh issue portion of 1,76,83,000 shares (176.83 lakh shares), which at the upper price band of ₹99 per share translates into overall issue size of ₹175.06 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 89.11% pre-IPO to 65.05% post-IPO.
The IPO of Annu Projects Ltd will be listed on the NSE and the BSE on the IPO mainboard. There was no anchor allocation in the IPO, due to the limited allocation to QIBs.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Annu Projects Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Tuesday, 25 August, 2026 |
| IPO Close Date | Friday, 28 August, 2026 |
| Basis of Allotment | Monday, 31 August, 2026 |
| Initiation of Refunds to non-allottees | Tuesday, 1 September, 2026 |
| Credit of Shares to Demat | Tuesday, 1 September, 2026 |
| Listing Date on NSE and BSE | Wednesday, 2 September, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | Nil Shares | Not Applicable |
| QIB Shares Offered | 17,68,300 shares | 10.00% of total IPO size |
| NII (HNI) Shares Offered | 70,73,200 shares | 40.00% of total IPO size |
| Retail Shares Offered | 88,41,500 shares | 50.00% of total IPO size |
| Total Shares Offered | 1,76,83,000 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Annu Projects Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 151 | ₹ 14,949 |
| Retail (Max) | 13 | 1,963 | ₹ 1,94,337 |
| S-HNI (Min) | 14 | 2,114 | ₹ 2,09,286 |
| S-HNI (Max) | 66 | 9,966 | ₹ 9,86,634 |
| B-HNI (Min) | 67 | 10,117 | ₹ 10,01,583 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 151 shares)
FINANCIAL HIGHLIGHTS OF ANNU PROJECTS LTD
The table captures the key financials of Annu Projects Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 241.25 | 180.07 | 153.98 |
| Sales Growth (%) | 33.98% | 16.94% | |
| Profit after Tax (₹ in crore) | 33.03 | 21.10 | 17.39 |
| PAT Margins (%) | 13.69% | 11.72% | 11.29% |
| Total Equity (₹ in crore) | 155.26 | 122.06 | 69.07 |
| Total Assets (₹ in crore) | 341.82 | 233.37 | 161.34 |
| Return on Equity (%) | 21.27% | 17.29% | 25.17% |
| Return on Assets (%) | 9.66% | 9.04% | 10.78% |
| Asset Turnover Ratio (X) | 0.71 | 0.77 | 0.95 |
| Earnings per share (₹) | 6.91 | 4.65 | 4.07 |
| EBITDA (₹ in Crore) | 50.19 | 32.19 | 28.50 |
| EBITDA Margins (%) | 20.81% | 17.88% | 18.51% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The company has seen steady growth in revenues over the last 3 years, which is reflected in its EBTIDA margins and its net margins moving up by nearly 240-250 basis points between FY24 and FY26. However, due to its working-capital-intensive nature, asset turnover is low.
VALUATION METRICS OF ANNU PROJECTS LTD IPO
At the IPO price of ₹99 (upper band), the stock gets discounted at a P/E ratio of 14.3X, based on the latest FY26 EPS of ₹6.91. The challenge for the company is the substantial chunk of the company’s balance sheet locked into current assets. Out of the total asset base of ₹341 crore, current assets are ₹293 crore, of which trade receivables and unbilled inventory account for ₹233 crore. That remains a key risk for the company’s business model.
The company does have a strong order book that is a multiple of its annual sales, so that leaves a good pipeline. It has also shown a good track record in managing its project execution. However, the working capital intensity remains a persistent challenge for the company and that is what investors will have to keep in mind. It remains a key risk for any investor in the IPO.
2026-08-28 — Day-3 subscription update
Annu Projects Ltd (Day-3 Final Subscription at 2.93 times)
ANNU PROJECTS LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.30 pm on 28th August 2026, out of the 176.83 lakh shares on offer in the IPO (excluding anchor portion), Annu Projects Ltd saw bids for 518.44 lakh shares. This implies an overall subscription of 2.93X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Annu Projects Ltd was as under:
| Employees (N.A.) | QIBs (1.72X) | HNI / NII (3.55X) | Retail (2.68X) |
|---|
The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company did not allot any shares to anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | N.A. | 0 | 0 | 0.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 1.72 | 17,68,300 | 30,44,764 | 30.14 |
| HNIs / NIIs | 3.55 | 70,73,200 | 2,51,18,246 | 248.67 |
| Retail Investors | 2.68 | 88,41,500 | 2,36,81,481 | 234.45 |
| Total | 2.93 | 1,76,83,000 | 5,18,44,491 | 513.26 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Annu Projects Ltd was open up to August 28, 2026, and has closed for subscription as of the close of trading hours on August 28, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹513.26 crore.
NEXT STEPS IN THE ANNU PROJECTS LTD IPO
Post the closure of the IPO subscription on 28th August 2026, the basis of allotment will be finalized on 31st August 2026 and the refunds will be initiated on 01st September 2026. In addition, the demat credits are expected to also happen on 01st September 2026 and the stock will list on 02nd September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st September 2026 under ISIN (INE103001017).
2026-08-28 — Allotment guidance and next steps
Annu Projects Ltd (How to check allotment status online)
ABOUT THE ANNU PROJECTS LTD IPO
The IPO of Annu Projects Ltd opened on August 25th, 2026 and closed on August 28th, 2026. The IPO comprised purely of a fresh issue of 1,76,83,000 shares (176.83 lakh shares) worth ₹175.06 crore at the upper band price of ₹99 per share. There was no offer for sale (OFS) component in the IPO. The allotment status will be finalized by EOD of August 31, 2026. Here is how to check allotment status for the IPO of Annu Projects Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF ANNU PROJECTS LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Annu Projects Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Annu Projects Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF ANNU PROJECTS LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select ANNU from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Annu Projects Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF ANNU PROJECTS LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Annu Projects Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE ANNU PROJECTS LTD IPO
Post the closure of the IPO subscription on 28th August 2026, the basis of allotment will be finalized on 31st August 2026 and the refunds will be initiated on 01st September 2026. In addition, the demat credits are expected to also happen on 01st September 2026 and the stock will list on 02nd September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st September 2026 under ISIN (INE103001017).
Interested in applying for this IPO?
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