⚡ Quick Snapshot: Annu Projects IPO Key Metrics

🏗️ PART 1: Business Overview & Core EPC Verticals

Annu Projects — EPC Business Ecosystem

ANNU PROJECTS EPC BUSINESS ECOSYSTEM

Incorporated with a vision to capitalize on India's national infrastructure push, Annu Projects Limited is an integrated turnkey infrastructure contractor providing end-to-end EPCC services across three main verticals:

1. Telecom & Digital Connectivity EPC (Core Driver):
   • Underground Optical Fiber Cable (OFC) trenching, laying, and blowing using Trenchless Horizontal Directional Drilling (HDD) technology.
   • 4G/5G mobile telecom tower erection, civil foundation, and fiberization for major telecom operators and tower infrastructure companies.
2. Renewable Energy & Solar EPC:
   • Turnkey engineering, procurement, and construction of ground-mounted solar power plants and commercial rooftop solar installations.
3. Smart City & Utility Pipeline Engineering:
   • City Gas Distribution (CGD) steel and MDPE gas pipeline laying.
   • Municipal water supply pipelines, underground utility ducting, and civil highway infrastructure projects.

📊 PART 2: Financial Performance Analysis (FY24 – FY26)

Annu Projects has demonstrated strong top-line revenue scaling and compounding profitability over the last three fiscal periods:

Annu Projects — Revenue & Net Profit Trajectory

Financial Health Metrics (FY26):

• Revenue Growth: Total revenue from operations expanded from ₹153.98 Cr in FY24 to ₹244.59 Cr in FY26 (+26.0% CAGR).
• Net Profit Surge: Net profit after tax (PAT) almost doubled from ₹17.39 Cr in FY24 to ₹33.03 Cr in FY26 (+56.5% YoY growth), driven by operational efficiencies and higher-margin solar EPC contracts.
• Asset Base: Total assets expanded significantly to ₹341.82 Crore in FY26 (up from ₹161.34 Cr in FY24), reflecting capital expenditure in advanced HDD machines and construction equipment.
• Return Ratios: Return on Equity (RoE) stands healthy at ~27.1%, while Return on Capital Employed (RoCE) exceeds ~25.4%.

💡 PART 3: 100% Fresh Issue Capital Structure

Unlike IPOs dominated by private equity promoter exits via Offer for Sale (OFS), 100% of the ₹175.06 Crore raised in the Annu Projects IPO is a Fresh Issue.

Annu Projects — Fresh Issue Capital Deployment Plan

This fresh capital injection will be deployed directly into business operations:

1. Procurement of advanced HDD machinery and specialized construction rigs to increase project execution speed.
2. Meeting long-term working capital requirements for large-scale state and central government EPC tenders.
3. Repaying high-cost debt to reduce interest expenses and boost net profit margins in FY27.

🔍 PART 4: Valuation & Peer Benchmarking

Annu Projects — Peer Valuation Comparison

Valuation Insight: At the upper price band of ₹99, Annu Projects is valued at a post-issue P/E multiple of ~18.60x. Compared to listed EPC peers trading in the 25x–35x P/E range, the IPO offers a comfortable safety margin for fundamental investors.

📈 PART 5: Live Grey Market Premium (GMP) & Listing Estimate

GMP & EXPECTED LISTING PRICE (AUG 28, 2026)
   Issue Price: ₹99.00
   Estimated GMP: +₹4.00 (+4.0%)
   -------------------------------------------------------
   ESTIMATED LISTING PRICE: ~₹103.00 per share

As of today (August 28, 2026), the Grey Market Premium (GMP) for Annu Projects Ltd is reported at ~₹4 per share, indicating an estimated listing price of ~₹103 per share (+4.0% listing gain).

While grey market sentiment is modest, the primary strength of this issue lies in its fundamental earnings growth rather than short-term speculative hype.

⚖️ PART 6: SWOT Analysis

Annu Projects — Strengths

Annu Projects — Weaknesses

Annu Projects — Opportunities

Annu Projects — Threats

📅 PART 7: Allotment & Listing Timeline Guide

For investors who participated during the bidding window:

1. Basis of Allotment: Monday, August 31, 2026 (Verify your status on the official registrar portal or BSE website).
2. Initiation of Refunds: Tuesday, September 1, 2026.
3. Credit of Shares to Demat: Tuesday, September 1, 2026.
4. Official Exchange Listing: Wednesday, September 2, 2026 (Listing on BSE & NSE).

🎯 Final Verdict: Is Annu Projects IPO Worth the Investment?

INVESTALKS VERDICT MATRIX

FOR SHORT-TERM LISTING GAINS => 🟡 MODEST / NEUTRAL (GMP indicates 4% immediate upside)

FOR 2-3 YEAR LONG-TERM HOLD => 🟢 STRONG BUY / ACCUMULATE (Fundamental growth, low P/E)

Summary Verdict:

• Listing Gain Seekers: Expect a modest opening (+4% to +7%).
• Long-Term Investors: HOLD / ACCUMULATE. A 100% fresh issue structure, doubling FY26 profits, high RoE (~27%), 5G/Solar tailwinds, and an attractive P/E of 18.6x make Annu Projects a solid small-cap infrastructure compounder for 2–3 year horizons.

❓ Frequently Asked Questions (FAQs)

1. What is the allotment date for Annu Projects IPO?

The basis of allotment for Annu Projects IPO will be finalized on Monday, August 31, 2026.

2. When will Annu Projects shares list on the BSE and NSE?

The stock is tentatively scheduled to list on Wednesday, September 2, 2026.

3. What is the issue size and price band for Annu Projects IPO?

The issue size is ₹175.06 Crore (100% Fresh Issue) with a price band of ₹94 to ₹99 per share (Lot size: 151 shares / ₹14,949).