Annu Projects Limited IPO
Price Band
₹94 – ₹99
Issue Size
₹175.06 Cr
Issue Dates
25 Aug – 28 Aug 2026
Listing Date
2 Sept 2026
About Annu Projects Ltd.
Annu Projects Limited is an engineering, procurement, and construction (EPC) company engaged in the design, development, implementation, operations and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure and gas pipeline verticals. Key verticals: Telecom Infrastructure - surveying, designing, and installing cabling and tower infrastructure for communication, automation, and electronic security systems, with customers including Bharat Sanchar Nigam Limited, A2Z Infra Engineering Limited, Bharat Broadband Network Limited and G R Infraprojects Limited; Sewerage Infrastructure - pipe laying, construction of manholes, sewerage treatment plants, pumping stations and structural facilities; Gas Pipeline - laying MDPE pipelines ranging from 20 mm to 125 mm in diameter, along with 38,300 GI house connections for domestic and commercial gas supply, serving customers including Indraprastha Gas Limited, Gujarat Gas Limited and GAIL India Limited. As on June 30, 2026, it had 23 ongoing projects worth ₹19,593.48 million, including 4 telecom infra projects, 14 sewerage, 4 gas pipeline projects and 1 railway signalling project.
IPO Details
| Price Band | ₹94 – ₹99 |
| Face Value | ₹10 |
| Issue Size | ₹175.06 Cr |
| Fresh Issue | ₹175.06 Cr |
| Total Shares Offered | 1,76,83,000 |
| Listed On | Both |
Objects of the Issue
Funding capital expenditure requirements of the Company for purchase of machinery or equipment: ₹15.41 Cr; Funding working capital requirements of the Company: ₹115.00 Cr; General Corporate Purposes: amount not disclosed. Total (as per RHP object table): ₹130.41 Cr. Note: this total does not fully reconcile with the ₹175 Cr issue size, likely due to the undisclosed General Corporate Purposes amount and issue-related expenses.
Key Financial Metrics
ROE
21.27%
ROCE
22.66%
Debt / Equity
0.34
Financial Performance
| Particulars (₹ Cr) | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | — | — | — |
| EBITDA | 28.5 | 32.19 | 50.19 |
| PAT | 17.39 | 21.1 | 33.03 |
| Total Assets | 161.34 | 233.37 | 341.82 |
| Net Worth | 68.93 | 122.06 | 155.26 |
| Total Borrowings | 19.69 | 22.27 | 52.54 |
Valuation
Market Capitalisation
P/E Ratio
Promoter Holding
Public Holding
Lot Size & Allocation
Investment by Category
| Category | Lot Size | Min Investment | Max Investment |
|---|---|---|---|
| retail_min | 151 shares | ₹14,949 | — |
| retail_max | 151 shares | — | ₹1,94,337 |
| shni_min | 14 × 151 | ₹2,09,286 | — |
| shni_max | 151 shares | — | ₹9,86,634 |
| bhni_min | 67 × 151 | ₹10,01,583 | — |
Reservation / Allocation
| Category | Allocation | Cut-off |
|---|---|---|
| QIB (Not more than 10% of the Issue) | 10% | No |
| Retail (Not less than 50% of the Issue) | 50% | No |
| NII (Not less than 40% of the Issue) | 40% | No |
Registrar & Lead Managers
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