Annu Projects IPO opens on 25-28 August and is a Mainboard issue among the upcoming Indian IPOs. The company aims to raise ₹175 Cr via this future IPO in India with a price range of ₹94 to ₹99 per share.
Annu Projects IPO Analysis
Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.
Minimum retail investment
₹14,949
151 shares at the upper band of ₹99
Fresh issue share
100%
₹175 Cr of the ₹175 Cr issue
Revenue growth
+34.1%
31 Mar 2025 → 31 Mar 2026
Profit growth
+56.5%
PAT ₹21.1 Cr → ₹33.03 Cr
Net profit margin
13.5%
was 11.6% in 31 Mar 2025
Debt to equity
0.34
lower is safer
Return on equity
21.27%
ROE
Peer listing record
13 of 18 listed above issue price
median listing move +7.6%
Total subscription
2.93x
across all categories
Promoter holding
89.11% → 65.05%
diluted by 24.1 percentage points
A retail application for Annu Projects needs one lot of 151 shares, which works out to ₹14,949 at the upper band of ₹99. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application.
The whole ₹175 Cr is a fresh issue. Every rupee raised stays with the company and can fund the stated objects of the issue, which is generally a better sign than an offer that mainly lets existing holders sell down.
Revenue moved from ₹182.35 Cr in 31 Mar 2025 to ₹244.59 Cr in 31 Mar 2026 (+34.1%), while profit after tax went from ₹21.1 Cr to ₹33.03 Cr (+56.5%). Profit grew faster than revenue, which points to operating leverage or a better cost mix rather than growth bought purely through volume.
Recently listed companies in the same space trade at a median price-to-earnings ratio of about 14.4. Comparing that with the multiple implied by this issue's ₹94–₹99 band is a more useful test of pricing than looking at the grey market premium alone.
What looks good
- The entire issue is a fresh issue, so all of the money raised goes to the company rather than to exiting shareholders.
- Profit is growing faster than revenue, suggesting improving operating efficiency.
- A debt-to-equity ratio of 0.34 points to a conservatively funded balance sheet.
- Return on equity of 21.27% is strong for the sector.
This analysis is generated from the figures shown on this page and is for information only. It is not investment advice — read the RHP before you apply.
About Annu Projects
Annu Projects Limited is an engineering, procurement, and construction (EPC) company. It is engaged in the design, development, implementation, operations and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure vertical and gas pipeline vertical.
Telecom Infrastructure: Surveying, designing, and installing cabling and tower infrastructures for communication, automation, and electronic security system. Its customers include Bharat Sanchar Nigam Limited, A2Z Infra Engineering Limited, Bharat Broadband Network Limited, G R Infraprojects Limited.
Sewerage Infrastrucutre: Pipe laying, construction of manholes, construction of sewerage treatment plants, construction of pumping stations, and construction of structural facilities, etc.
Gas Pipeline: Laying MDPE ranging from 20 mm to 125 mm in diameter, along with 38,300 GI house connections for domestic and commercial gas supply. Served customers, including Indraprastha Gas Limited, Gujarat Gas Limited and GAIL India Limited.
As on June 30, 2026, it has 23 ongoing projects worth Rs 19,593.48 million, including 4 telecom infra projects, 14 sewerage, 4 gas pipeline projects and 1 (one) comprised of railway signalling vertical.
Engineering, procurement and commissioning projects with special focus on underground and overhead utilities infrastructure
Project management with integrated execution capabilities
Strong and consistent financial performance
Experienced leadership and strong management team
Q1. What is Annu Projects IPO?
Annu Projects IPO is a Mainboard issue among the new IPOs coming in India. The company will raise ₹175 Cr via this upcoming Indian IPO, priced at ₹94 to ₹99 per equity share.
Q2. When will Annu Projects IPO open for subscription?
This future IPO opens on 25-28 August. Stay updated with all IPOs to come this week and upcoming launches.
Q3. What is Annu Projects IPO Investors' Portion?
QIB: 10%, HNI: 40%, Retail: 50%
Q4. What is Annu Projects IPO Issue Size?
Total issue size is ₹175 Cr.
Q5. What is Annu Projects IPO Price Band?
The price band is ₹94 to ₹99 per equity share.
Q6. What is Annu Projects IPO Lot Size?
Minimum bid is 151 shares.
Q7. What is the Annu Projects IPO Allotment Date?
The allotment will be finalized on 31 Aug 2026.
Q8. What is the Annu Projects IPO Listing Date?
The IPO will list on 2 Sep 2026.
