Annu Projects IPO
Infrastructure Developers & Operators • ₹175.06 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- The company derives a significant portion of its revenue from its telecom infrastructure a…
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹99
Lot Size
151 shares
Issue Size
₹175.06 Cr
Open
25 Aug 2026
Close
28 Aug 2026
Subscription
2.90×
IPO Schedule
| Issue Open Date | 25 Aug 2026 |
| Issue Close Date | 28 Aug 2026 |
| Allotment Date | 31 Aug 2026 |
| Listing Date | 01 Sept 2026 |
About Annu Projects
Annu Projects Limited is an EPC company engaged in the design, development, implementation, operation and maintenance of overhead and underground utility infrastructure. Its business is divided into four verticals: telecom infrastructure, sewerage infrastructure, gas pipelines and railway signalling. The telecom business includes surveying, designing and installing cabling and tower infrastructure and laying optical fibre cable networks. Its sewerage activities include pipe laying, construction of manholes, sewage treatment plants, pumping stations and stormwater drainage systems. The gas pipeline vertical involves laying MDPE pipelines and GI house connections for domestic and commercial gas supply. The company has also undertaken railway signalling projects. Established in 2003, the company operates across multiple states in India and executes projects through direct contracts, subcontracts, and project-specific joint ventures or consortiums. As of June 30, 2026, it had completed 362 projects and had 23 ongoing projects. It also owned more than 558 machines and pieces of equipment and had 469 permanent employees.
Company Details
Founders / Promoters
Mr Sanjay Kumar Sarraf
Founded
2003
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Annu Projects — IPOFins Verdict
QuantitativeDriven by QIB demand at 1.7x and elevated disclosed risk (8/10), Annu Projects listed at a discount of 27.3% to its issue price. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- The company has completed 362 projects across telecom infrastructure, sewerage infrastructure and gas pipeline verticals over the last 21 fiscals as of June 30, 2026. Its completed projects include wo
- The company had an order book of Rs 1,005.05 crore as of June 30, 2026, covering 23 ongoing projects. Telecom infrastructure accounted for Rs 833.28 crore, or 82.91%, of the order book, while sewerage
- The company claims to have a fleet of 558 plant and machinery as of June 30, 2026. This includes horizontal directional drilling machines, excavators, splicing machines, Digitrak machines, OTDR machin
- The company has experience in large-scale optical fibre network projects. It claims to have contributed to nearly 6,000 km of OFC rollout under the Network for Spectrum Project and restored approximat
- The company has emerged as the L1 bidder for Package No. 16 of the BharatNet Phase III project in Kerala through a consortium with G R Infraprojects Limited and SRIT India Private Limited. Its scope i
Score breakdown — what drove this verdict
High risk from DRHP → score -1.2
Institutional subscription → score 0
Actual listing outcome → score −1.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹99
Listing Price
₹72
Listing Gain/Loss
-27.27%
Listing Date
01 Sept 2026
Price Since Listing
Returns are measured against the ₹99 issue price.
Listing
₹72
-27.3%
1 Week
₹61.58
-37.8%
Current
₹58.35
-41.1%
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FAQ
What is the price band of Annu Projects IPO?
The price band is ₹99 per share with a lot size of 151 shares. Minimum investment: ₹14,949.
What does Annu Projects do?
Annu Projects Limited is an EPC company engaged in the design, development, implementation, operation and maintenance of overhead and underground utility infrastructure. Its business is divided into four verticals: telecom infrastructure, sewerage infrastructure, gas pipelines and railway signalling. The telecom business includes surveying, designing and installing cabling and tower infrastructure and laying optical fibre cable networks. Its sewerage activities include pipe laying, construction of manholes, sewage treatment plants, pumping stations and stormwater drainage systems. The gas pipeline vertical involves laying MDPE pipelines and GI house connections for domestic and commercial gas supply. The company has also undertaken railway signalling projects. Established in 2003, the company operates across multiple states in India and executes projects through direct contracts, subcontracts, and project-specific joint ventures or consortiums. As of June 30, 2026, it had completed 362 projects and had 23 ongoing projects. It also owned more than 558 machines and pieces of equipment and had 469 permanent employees.
Should I apply for Annu Projects IPO?
Annu Projects listed at ₹72 (-27.3% discount to the ₹99 issue price) after 2.9x subscription. IPOFins Score 2/10: Driven by QIB demand at 1.7x and elevated disclosed risk (8/10), Annu Projects listed at a discount of 27.3% to its issue price. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded Annu Projects?
Annu Projects was founded by Mr Sanjay Kumar Sarraf in 2003.