Skip to main content
  1. Home
    /
  2. IPO
    /
  3. Annu Projects IPO
Annu Projects IPO
3.93xsubscribed

Annu Projects IPO

Engineering - Construction
listed
₹14,194Min. investment

Annu Projects Limited IPO Details

SectorEngineering - Construction
Price range₹94.00 – ₹99.00
IPO type
Regular
Lot size151 shares
Issue size₹175Cr
Red Herring Prospectus
Read
Market cap
₹648CrLower than sector avg
RevenueApr 2025 - Mar 2026
₹241CrLower than sector avg
Growth rate3Y CAGR
25.17%Higher than sector avg

Annu Projects IPO Subscription Status

Date
QIB
NII
Retail
Total
25-Aug-26
0.29 times (X)
0.87 times (X)
0.18 times (X)
0.32 times (X)
26-Aug-26
0.29X
1.18X
0.51X
0.64X
27-Aug-26
0.87X
2.07X
0.51X
0.84X
28-Aug-26
1.46X
10.52X
2.6X
3.93X

As on 25-Aug-26, 5:30 PM

Annu Projects IPO Timeline

  1. Pre-apply
    24 Aug 2026
  2. Bid start
    25 Aug 2026
  3. Bid end
    28 Aug 2026
  4. Allotment
    31 Aug 2026
  5. Release of funds
    31 Aug 2026
  6. Demat transfer
    1 Sep 2026
  7. Listing
    2 Sep 2026

About Annu Projects Limited

Annu Projects IPO will open for subscription on Tuesday, August 25 2026. Incorporated in 2003, the company is engaged in the engineering, procurement, and construction (EPC) business. It designs, develops, operates, and maintains essential overhead and underground utilities infrastructure across four key verticals: telecom infrastructure, sewerage infrastructure, gas pipeline and railway signalling. The company has completed 362 projects over 21 fiscal years across multiple Indian states and union territories.
The telecom infrastructure vertical contributed 41.5% of revenue from operations in FY26, generating ₹100.1 crore. The company has laid more than 26,200 kilometres of optical fibre cable (OFC) networks and maintains over 62,800 km of OFC networks across India. It serves public sector units and private parties, including Bharat Sanchar Nigam Limited, A2Z Infra Engineering Limited and Bharat Broadband Network Limited.
The company has completed more than 298 kilometres of sewerage pipe laying and is engaged in constructing and maintaining sewerage treatment plants, pumping stations, and other related infrastructure. The World Bank, Asian Development Bank, and government schemes, including Namami Gange and Swachh Bharat Mission, have funded its projects. The sewerage infrastructure vertical contributed 52.67% of revenue from operations in FY26, generating ₹127.08 crore and representing the largest revenue-contributing vertical.
The company has laid more than 537 kilometres of MDPE pipes ranging from 20 mm to 125 mm in diameter and executed 38,300 galvanised iron pipe (GI) connections for domestic gas supply across Bihar, Uttar Pradesh, Odisha and Jharkhand. Its major customers include Indraprastha Gas Limited, Gujarat Gas Limited and GAIL India Limited. The company has forayed into the railway signalling vertical and bagged its first railway sector project with an Order Book value of about 11.31 crore as on 30th June 2026.
As on 30th June 2026, the company had an order book of ₹1,005 crore comprising 23 ongoing projects including four telecom infrastructure projects worth ₹833.2 crore, 14 sewerage infrastructure projects worth ₹150.36 crore, four gas pipeline projects worth ₹10.1 crore and one railway signalling project worth ₹11.31 crore. In FY26, the book-to-bill ratio stood at 3.89 times. The company’s largest project in terms of order book value is the BharatNet Phase III Kerala project worth ₹746.92 crore, which constitutes 74.3% of the total order book.
The company has been awarded the project as the L1 bidder in consortium with G R Infraprojects Limited and SRIT India Private Limited. The company has also bid as a consortium for 16 packages of BharatNet Phase III to provide broadband connectivity to about 2.64 lakh Gram Panchayats across rural India.
A significant portion of the company’s revenue comes from its largest customers. A2Z Infra Engineering Limited contributed 26.61% of revenue from operations of ₹64.20 crore in FY26, followed by Bihar Urban Infrastructure Development Corporation Limited with 23.08% of revenue from operations of ₹55.67 crore. Top 10 customers accounted for 97.96% of revenue from operations in FY25.
Government spending and network expansion continue to prop up the infrastructure sectors. The high-voltage transmission line market is projected to grow at a CAGR of 9% from 2024 to 2028, reflecting ongoing investment in power transmission infrastructure. Bharat Broadband Network Limited (BBNL), a major government initiative, aims to connect around 2.64 lakh Gram Panchayats across India and to expand broadband access in rural areas, opening up opportunities for telecom infrastructure players.
The sewerage infrastructure is also witnessing growth, supported by government initiatives, such as Namami Gange and Swachh Bharat Mission, that are financing construction and up-gradation of sewerage systems. The demand for pipeline infrastructure in the gas pipeline segment is being driven by the expansion of city gas distribution networks in eastern and central India, including Bihar, Jharkhand, Odisha and West Bengal. The four ongoing GAIL projects of the company provide exposure to this expanding market and scope for further growth in the gas pipeline vertical.
The company has a network of OFC spread across various states of over 62,800 kms which forms the base of recurring Operations & Maintenance (O&M) revenue. The growth of government broadband projects like BharatNet is likely to increase the OFC network base and help in demand for long-term O&M services. The company’s BharatNet Kerala project involves installation and 7-8 year O&M contracts, offering revenue visibility beyond the project execution period. The company had an Order Book of ₹1,005.06 crore with a Book-to-Bill Ratio of 3.89 times as of June 30, 2026, providing visibility of approximately 3.89 years of revenue. The BharatNet Phase III Kerala project of ₹746.92 crore, which is 74.32% of the total order book, shows the company’s strength in winning large government infrastructure projects.
Now, Annu Projects is launching its initial public offering (IPO), which consists of a fresh issue of ₹175 crore. Its shares will be listed on the NSE and BSE.
How to apply for Annu Projects IPO?
If you are interested in this investment opportunity but unsure how to apply for Annu Projects IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Annu Projects IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Annu Projects IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Apply’
  • Accept the mandate on your UPI app

Annu Projects Limited IPO Analysis

IPO REVIEW

Annu Projects IPO | Analysis Video

Should you apply?

Watch our analysts break down the Annu Projects Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Diversified EPC portfolio

The company is engaged in EPC activities across telecom infrastructure, sewerage infrastructure, gas pipeline and railway signalling verticals. It has a record of 362 completed projects over the last 21 years, with a combined total contract value of ₹1,279 crore.

Strong order book

The company’s order book stood at ₹1,005 crore across 23 ongoing projects, together with a Book-to-Bill Ratio of 3.89x, as on June 30, 2026.

Operational infrastructure and equipment

The company owns more than 558 machines and equipment, which includes horizontal directional drilling machines, excavators, splicing machines, digitrak machines, OTDR machines and HDPE pipe welding machines.

Established customer relationships with multiple clients

The company caters to government and public sector customers such as BSNL, Madhya Pradesh Urban Development Company Limited, Bihar Urban Infrastructure Development Corporation Limited and Jharkhand Urban Development Company Limited.

Strategic geographic expansion

The company has set up offices in Delhi, Kolkata, Goa, Siliguri, Muzaffarpur, Patna, Bhubaneswar, Ranchi, Gangtok, Andaman and Nicobar Islands and Bhopal to increase its presence in multiple geographies.

BharatNet success

The company emerged as the L1 bidder in consortium with G R Infraprojects Limited and SRIT India Private Limited for Package No. 16 in Kerala under the BharatNet Phase-III project. The project has an estimated order book value of ₹9,185.50 million, representing approximately 81% of the total contract value.

Objectives of Annu Projects Limited IPO

Working capital expenditure
65.60%
The company will use ₹115 crore for working capital requirements of the company.
General corporate purposes
25.50%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses
Capital expenditure
8.80%
The company will use ₹15.41 crore to purchase machinery or equipment for business operations.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹241Cr25.17%₹33.03Cr₹648Cr14.330.34
This sector (avg.)₹2,186.73Cr0.03%₹107.3Cr₹5,580.04Cr39.871.33
₹2,55,547.01Cr---₹17,687.39Cr₹5,40,931.7Cr33.291.36
₹19,923.02Cr---₹1,281.52Cr₹71,599.59Cr63.030.57
₹7,062Cr---₹6,480.68Cr₹25,092.05Cr3.811.04

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Annu Projects IPO Contact Details

Company NameAnnu Projects Limited

How to apply for Annu Projects IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Annu Projects Limited IPO FAQs

Investors can apply for the Annu Projects IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Annu Projects IPO is 175 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Annu Projects IPO will be open between 2026-08-25 and 2026-08-28.
Annu Projects IPO allotment date is 2026-09-01. For Annu Projects IPO allotment status check, you can visit the website of the registrar of the IPO.
For Annu Projects IPO, the IPO registrar is KFin Technologies Limited . You can check Annu Projects IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Annu Projects IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Annu Projects IPO lot size is 151 and minimum order quantity is 151.
Annu Projects IPO has set the price band for its IPO at 99 per equity share with a face value of 10.