Annu Projects, a New Delhi-based EPC company specializing in underground and overhead utilities infrastructure, has finalized August 25 as the opening date for its IPO public subscription. According to the red herring prospectus filed with the Registrar of Companies on August 18, the IPO comprises an entirely fresh issue of 1.76 crore equity shares with no offer-for-sale component. The issue will remain open until August 28, with share allotment expected to be finalized by August 31. As reported by the company, shares are likely to be listed on the bourses on September 2. The IPO lot size is set at 151 equity shares and will be available in multiples thereof. Mefcom Capital Markets has been appointed as the merchant banker to manage the Annu Projects IPO, while Kfin Technologies serves as the registrar.
The company has now fixed the price band at ₹94-99 per share for its ₹175 crore IPO, as announced on August 20. The IPO comprises a fresh issue of 17,683,000 equity shares of face value ₹10 each. The price band announcement comes after the company had previously reduced the issue size from the 2.2 crore fresh equity shares planned in the draft document filed with SEBI in June 2025. The capital markets regulator cleared the IPO papers in November 2025. Mefcom Capital Markets has been appointed as the merchant banker to manage the Annu Projects IPO, while Kfin Technologies serves as the registrar. The allocation to anchor investors is scheduled for August 24, with the basis of allotment expected to be finalized on August 31.
Investors can bid for a minimum of 151 equity shares and in multiples of 151 shares thereafter. Accordingly, the minimum investment for retail investors would be ₹14,949, while the maximum would be ₹1,94,337. The company has reserved 50 percent of the IPO shares for retail investors, while 40 percent of the shares are allocated to non-institutional investors and the remaining 10 percent of the issue size is reserved for qualified institutional buyers. The IPO is seeking a market capitalisation of ₹648 crore at the upper end of the price band. The issue has reserved not less than 10% for qualified institutional buyers (QIB), not more than 40% for non-institutional institutional investors (NII), and not more than 50% for retail investors.
According to the company's disclosures, Annu Projects claims to be one of the diversified companies in the EPC sector, undertaking fibre optics, sewerage and gas pipeline projects. The company has completed 362 projects over the last 21 years and has 23 ongoing projects as of June 2026. Of these, four projects each are in the telecom and gas pipeline infrastructure segments, while 14 are in sewerage infrastructure. The company's total basic contract value stands at ₹1,681.4 crore, with completed work amounting to ₹676.4 crore and outstanding order book at ₹1,005 crore as of June 2026. The three segments contributed 41.5% (telecom), 52.7% (sewerage), and 4% (gas pipelines) to its FY26 revenue. The company competes with listed companies including Likhitha Infrastructure, Bondada Engineering, EMS and Suyog Telematics.
As reported by the company, the infrastructure services provider will utilize ₹15.4 crore of the net IPO proceeds on the purchase of machinery and equipment. A further ₹115 crore will be utilized for working capital requirements, with the remaining funds earmarked for general corporate purposes. The company reported a standalone profit of ₹33 crore and revenue of ₹241.2 crore for the fiscal year ended March 2026. At the upper end of the price band, the IPO is expected to give the company a market capitalisation of around ₹648 crore.
