Annu Projects IPO

Annu Projects IPO: Overview

Annu Projects Limited, a New Delhi-based utilities infrastructure company, ran its ₹175 crore mainboard IPO from August 25 to August 28, 2026. With bidding now closed, allotment is expected on August 31, with listing on both BSE and NSE scheduled for September 2, 2026.

The issue is structured entirely as a fresh issue of ~₹175 crores, comprising 1,76,83,000 equity shares — the offer document does not indicate a separate offer-for-sale component alongside it.

Annu Projects IPO: Key Dates

Event	Date
IPO Open Date	August 25, 2026
IPO Close Date	August 28, 2026
Basis of Allotment	August 31, 2026
Refunds Initiated	September 1, 2026
Credit to Demat Account	September 1, 2026
Listing Date (BSE, NSE)	September 2, 2026

Annu Projects IPO: Issue Details

Particular	Detail
Face Value	₹10 per equity share
Price Band	₹94 to ₹99 per share
Total Issue Size	~₹175 crores (1,76,83,000 shares)
Fresh Issue	~₹175 crores
Issue Type	Book Building Issue
Listing	BSE, NSE

Reservation stands out from most mainboard IPOs in this series: 50% for retail, 40% for NII, and just 10% for QIB — a notably higher retail and NII allocation, and lower institutional allocation, than the standard 35/15/50 split.

Annu Projects IPO: Lot Size

Application	Lots	Shares	Amount
Retail (Minimum)	1	151	₹14,949
Retail (Maximum)	13	1,963	₹1,94,337
S-HNI (Minimum)	14	2,114	₹2,09,286
S-HNI (Maximum)	66	9,966	₹9,86,634
B-HNI (Minimum)	67	10,117	₹10,01,583

Established in 2003 and formerly known as Annu Infra Construct (India) Private Limited, Annu Projects designs, develops, implements, operates, and maintains overhead and underground utilities infrastructure across three verticals: telecom infrastructure, sewerage infrastructure, and gas pipeline networks.

With over 20 years of experience, the company has built a diversified revenue base spanning these three infrastructure segments — a mix that offers some insulation against a downturn in any single vertical, given telecom rollouts, municipal sewerage projects, and gas pipeline expansion tend to follow somewhat independent demand cycles.

Objects of the Issue

Purpose	Amount
Capital expenditure — purchase of machinery/equipment	₹15.41 crores
Funding working capital requirements	₹115.00 crores
General corporate purposes	Balance amount

The bulk of the raise — nearly two-thirds — is earmarked for working capital, typical of an infrastructure execution business where project cycles tie up cash well ahead of milestone billing.

Financial Performance

Period	Revenue	Expense	PAT	Assets
FY2024 (Consolidated)	₹155.42 Cr	₹131.00 Cr	₹17.39 Cr	₹161.34 Cr
FY2025 (Consolidated)	₹182.35 Cr	₹154.14 Cr	₹21.10 Cr	₹233.37 Cr
FY2026 (Standalone)	₹244.59 Cr	₹198.42 Cr	₹33.03 Cr	₹341.82 Cr

Both revenue and profit have grown consistently across all three years, with PAT up roughly 90% from FY24 to FY26. Worth noting: FY26 figures are reported on a standalone basis, while FY24 and FY25 are consolidated — a reporting-basis shift worth keeping in mind rather than reading the jump as purely like-for-like growth.

Peer Comparison

Company	EPS	P/E Ratio	RoNW %	NAV	Income
Likhitha Infrastructure Limited	9.94	23.17	9.37	104.47	₹456.73 Cr
Bondada Engineering Limited	18.28	16.60	28.82	62.35	₹2,842.81 Cr
EMS Limited	16.30	24.65	8.62	190.03	₹732.75 Cr
Suyog Telematics Limited	54.70	16.11	12.88	42.50	₹221.85 Cr

Annu Projects' own P/E isn't disclosed as "N/A" in the offer document, but its RoNW of 21.27% is meaningfully higher than three of the four listed peers here — Bondada Engineering being the exception, at a considerably larger revenue scale.

How To Apply for the IPO ?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of the IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

FAQs :-

Q1. What was the Annu Projects IPO price band?

The price band was set at ₹94 to ₹99 per equity share.

Q2. When did the Annu Projects IPO open and close?

The IPO opened on August 25, 2026, and closed on August 28, 2026.

Q3. What is the Annu Projects IPO lot size?

The minimum lot is 151 shares, requiring an application amount of ₹14,949 at the upper price band.

Q4. When will Annu Projects shares list?

Shares are expected to list on both BSE and NSE on September 2, 2026, with allotment finalised on August 31, 2026.

Q5. What is the retail allocation in this IPO?

Retail investors are allocated 50% of the issue — notably higher than the 35% typical of most mainboard IPOs — with NII getting 40% and QIB just 10%.

Q6. What does Annu Projects do?

Annu Projects designs, builds, and maintains overhead and underground utilities infrastructure across telecom, sewerage, and gas pipeline verticals, with over 20 years of execution experience.

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. Some figures, including the debt-to-equity ratio and precise offer-for-sale details, were not fully disclosed in publicly available sources at the time of writing and should be verified against the company's final RHP. Please read the offer documents carefully and consult a SEBI-registered financial advisor before making any investment decisions.