Archive · 2 Sep 2026
Annu Projects Shares Debut Below IPO Price, Hit Upper Circuit
Annu Projects sold shares to the public through an IPO.
The IPO price was set between ₹94 and ₹99 per share.
When trading began, the shares were worth less than the highest IPO price of ₹99.
They started at ₹75 on BSE and ₹72 on NSE.
Soon afterward, the shares reached the highest allowed price for that trading period.
Even then, they remained below the IPO price.
Investors had subscribed to the IPO 2.93 times more than the total shares available.
The company plans to use much of the money for working capital and some for machinery or equipment.
The company's revenue comes mostly from telecom and sewerage businesses, with government clients making up a big part of that.
Annu Projects shares debuted at ₹75 on BSE and ₹72 on NSE, below the ₹99 IPO price.
The stock listed at discounts of 24.24% on BSE and 27.2% on NSE.
It quickly hit the upper circuit at ₹78.74 on BSE and ₹75.60 on NSE.
The ₹175-crore IPO was subscribed 2.93 times overall, with the non-institutional investor portion garnering 3.55 times subscription, the retail portion 2.68 times, and the QIBs category 1.72 times.
Annu Projects plans to use ₹115 crore for working capital and ₹15.41 crore for machinery or equipment, with the remainder for general corporate purposes.
- Who
- Annu Projects, an engineering, procurement, and construction firm.
- What
- Its shares debuted below the IPO price and then hit the upper circuit.
- When
- Wednesday, September 2, 2026.
- Where
- On the BSE and NSE.
- Why
- The company raised ₹175 crore through the IPO to fund working capital, machinery or equipment, and general corporate purposes.
- IPO size
- ₹175 crore
- IPO price band
- ₹94–99 per share
- IPO issue price
- ₹99 per share
- Overall subscription
- 2.93 times
- Working capital allocation
- ₹115 crore
- Capital expenditure allocation
- ₹15.41 crore
- Book-running lead manager
- Mefcom Capital Markets Ltd
- Registrar
- Kfin Technologies Ltd
- Minimum application size
- 151 shares
