Now Reading: Annu Projects IPO price band set at Rs 94-99 per share
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Annu Projects IPO price band set at Rs 94-99 per share
Annu Projects Ltd has fixed the price band for its initial public offering (IPO) at Rs 94 to Rs 99 per equity share of face value Rs 10. The subscription opens on…
Annu Projects Ltd has fixed the price band for its initial public offering (IPO) at Rs 94 to Rs 99 per equity share of face value Rs 10. The subscription opens on 25 August and closes on 28 August, with anchor investor allocation scheduled for 24 August.
The IPO is a fresh issue of 1.76 crore equity shares, aiming to raise Rs 175.06 crore. At the upper price band, the company's market capitalisation is expected to be around Rs 648 crore. Proceeds will be used for machinery purchase (Rs 15.4 crore), working capital (Rs 115 crore), and general corporate purposes.
The lot size is 151 shares. Shares are tentatively set to list on BSE and NSE on 2 September. Mefcom Capital Markets is the book-running lead manager, and Kfin Technologies is the registrar.
Indian Opinion Analysis
Annu Projects operates in telecom infrastructure, sewerage, and gas pipelines, with FY26 revenue of Rs 241.2 crore and profit of Rs 33 crore. The IPO proceeds are heavily tilted towards working capital, indicating cash flow needs typical of EPC contractors who face long payment cycles. Listing gains will depend on demand from QIBs and retail investors given the relatively small issue size. Watch the subscription figures on each day, especially the final day closing, as they will signal market appetite for mid-cap EPC stories.
Source: livemint.com
This story was synthesised by AI from the source linked above.
