Annu Projects IPO
Annu Projects IPO is a mainboard IPO raising ₹175 Cr at ₹94 – ₹99 a share. It listed on 2 Sept 2026 at ₹72, −27.3% against its issue price of ₹99, and trades at ₹38 today (−61.7% since issue). It was subscribed 2.93× in total.
2.9 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 28% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Likhitha Infrastructure Limited | 23.17× | 9.37% | ₹9.94 |
| Bondada Engineering Limited | 16.6× | 28.82% | ₹18.25 |
| EMS Limited | 24.65× | 8.62% | ₹16.3 |
| Suyog Telematics Limited | 16.11× | 12.88% | ₹52.4 |
| This issue | 14.3× | 21.27% | ₹6.91 |
derived: cut-off price Rs99 / stated EPS Rs6.91 (FY26 (Financial Year ended March 31, 2026) diluted EPS, restated). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.