Annu Projects IPO GMP, Price Band, Subscription Status, Allotment Date

Annu Projects IPO Review & 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.

Annu Projects is a mainboard issue raising ₹175 Cr, offered in a band of ₹94–₹99 per share. At the upper end that is 9.9 times the ₹10 face value, so ₹89 of every share subscribed is share premium rather than capital.

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. Retail applications are capped at ₹2,00,000, which here is 13 lots; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 67 lots.

For Annu Projects, bidding runs 25-28 August, allotment is finalised on 31 Aug 2026, the shares list on 2 Sep 2026. Applications that do not receive an allotment have their UPI mandate released around 3 days after the issue closes. Counting from the close of bidding, money stays blocked for roughly 5 days before listing decides what the holding is worth.

The issue is reserved 10% to qualified institutional buyers, 40% to non-institutional investors, 50% to retail. A 50% retail share is the wider end of the range, which improves the odds for small applications when the book is only modestly oversubscribed. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.

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.

With the retail portion subscribed 2.68 times, roughly one in 3 single-lot applications can expect an allotment once the draw is made. Applying for more lots does not improve those odds in an oversubscribed retail book — every application is cut back to one lot before the lottery — so the practical lever is the number of distinct PANs applying, not the size of any one bid.

Kfin Technologies Ltd. is the registrar for this issue, which means the allotment status for Annu Projects is published on their portal from 31 Aug 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.

The figures above are worked out from the issue's own filed numbers and are for information only. They are not investment advice — read the RHP before you apply.