Annu Projects
Annu Projects Limited is an infrastructure company specializing in the design, development, and maintenance of essential overhead and underground utilities. The company operates across the telecom, sewerage, and gas pipeline verticals.
Price Band
₹94 - ₹99
Lot Size
151 Shares
Issue Size
₹175.00 Cr
Fresh Issue
₹175.00 Cr
OFS
N/A
Registrar
AI Sentiment Score
Current GMP
+₹2
Est. Listing: ₹101 (+2%)
📅 IPO Timeline
1
Open
Aug 25
2
Close
Aug 28
3
Allotment
Aug 31
4
Refund
Sep 1
5
Demat
Sep 1
6
Listing
Sep 2
✨ AI Analysis & Prediction
+0.8%
predicted listing gain
The predicted gain is adjusted upward from the baseline GMP due to strong financial growth, healthy ROE/ROCE (>20%), and a 100% fresh issue structure which signals promoter confidence. However, the gain is capped by the lack of current institutional subscription data and a relatively medium float size.
💪 Strengths
- Strong 3-year revenue and PAT growth trajectory
- 100% Fresh Issue indicating promoter commitment
- Diversified presence across telecom, gas, and sewerage infrastructure
⚠️ Weaknesses
- Significant portion of IPO proceeds (₹115 Cr) required for working capital
- Lack of detailed debt-to-equity data in available summaries
🚀 Opportunities
- Expansion in essential utility infrastructure given India's urban development
- Potential for margin expansion through new machinery procurement
🛡️ Threats
- High competition in the infrastructure execution space
- Regulatory changes in utility and telecom infrastructure norms
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Funding capital expenditure requirements of our Company for purchase of machinery or equipment | ₹15.41 |
| Funding working capital requirements of our Company | ₹115.00 |
| General Corporate Purpose | ₹44.59 |
📊 Financial Overview
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 154.00 Cr | Rs 180.00 Cr | Rs 241.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs 18.00 Cr | Rs 21.00 Cr | Rs 33.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 30.00 Cr | Rs 33.00 Cr | Rs 50.00 Cr |
| Borrowings (₹ Cr) | Rs 16.00 Cr | Rs 24.00 Cr | NA |
| Total Assets (₹ Cr) | Rs 158.00 Cr | Rs 232.00 Cr | NA |
| ROCE % | 38.00% | 28.00% | NA |
📋 Live Subscription Status
QIB
0.00x
NII
0.00x
Retail
0.00x
Total
0.00x
Updated: Aug 22, 2026 8:02 AM
💼 Reservation Quota
QIB
10.00%
Retail
50.00%
NII
40.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Annu Projects Limited, formerly known as Annu Infra Construct (India) Private Limited, was established in 2003. Over the course of more than two decades, the company has evolved from a private entity into a diversified infrastructure player with a strong footprint in essential utility services.
The company's core business model focuses on the implementation and operation of critical infrastructure. This includes specialized work in telecom infrastructure, sewerage systems, and the laying of gas pipelines, providing a diversified revenue stream across multiple essential utility sectors.
With over 20 years of experience, Annu Projects has built a reputation for executing complex infrastructure projects. The company leverages its technical expertise to manage the full lifecycle of projects from initial design and development to long-term operations and maintenance.
Strategically headquartered in New Delhi, the company serves essential utility needs and maintains a scalable operational model. Its growth trajectory is evidenced by its increasing asset base and expanding revenue capacity over the last three fiscal years.
The organization is led by its promoters, Sanjay Kumar Sarraf and Krishna Ranjan, who have steered the company's expansion and diversification since its inception in 2003.
Annu Projects is launching a Mainboard IPO to raise approximately ₹175 Crore. The issue consists entirely of a fresh issue of 1,76,83,000 equity shares with a price band of ₹94 to ₹99 per share. The IPO is scheduled to open on August 25, 2026, and close on August 28, 2026, with listing on the BSE and NSE on September 2, 2026. The minimum lot size for retail investors is 151 shares, requiring an application amount of ₹14,949.
The proceeds from the fresh issue are earmarked for critical growth drivers. Specifically, ₹115.00 Crore will be utilized to fund working capital requirements, while ₹15.41 Crore is allocated for capital expenditure to purchase new machinery and equipment to enhance operational capacity.
Financial performance has shown a consistent upward trend. Revenue grew from ₹155.42 Crore in FY24 to ₹182.35 Crore in FY25, reaching ₹244.59 Crore in FY26. Net Profit (PAT) has similarly scaled from ₹17.39 Crore in FY24 to ₹33.03 Crore in FY26, reflecting strong operational efficiency.
From a valuation perspective, the company reports a basic EPS of ₹6.91 for FY26 and a Net Asset Value (NAV) of ₹32.48. When compared to peers like Likhitha Infrastructure and Bondada Engineering, Annu Projects demonstrates competitive profitability metrics, including an ROE of 21.27% and ROCE of 22.66%.
Key strengths of the issue include a 100% fresh issue structure, which means no promoters are offloading shares, and a strong growth trajectory in the utility infrastructure sector. However, investors should consider the risks associated with the high concentration of working capital needs and the inherent volatility of infrastructure project timelines.
Overall, the IPO presents a growth-oriented opportunity in the utility sector. While the financial growth is impressive, prospective investors should weigh the valuation against industry peers and the company's ability to sustain its current PAT margins of 13.69%.