Annu Projects IPO

About the company

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

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   25 Aug 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   28 Aug 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   30 Aug 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   31 Aug 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   01 Sept 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   02 Sept 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.

Date-wise daily subscription (all categories)

Date-wise cumulative subscription figures per category, refreshed each bidding day.