Annu Projects shares debut 27% below IPO price, trade under pressure

New Delhi: Annu Projects made a weak stock market debut on Wednesday, September 2, with its shares listing at a discount of up to 27 per cent to the IPO issue price of Rs 99.On the BSE, the stock opened at Rs 75, representing a discount of 24.24 per cent. The debut was weaker on the NSE, where shares listed at Rs 72, down 27.27 per cent from the issue price.Selling pressure continued after listing, with the stock falling to an intraday low of Rs 71.25, nearly 28 per cent below its IPO price.IPO Subscribed 2.93 TimesThe public issue received bids for around 5.18 crore shares against 1.76 crore shares available, resulting in an overall subscription of 2.93 times.The IPO was entirely a fresh issue of up to 1.7683 crore equity shares, with no offer-for-sale component.SEBI Approves IPO Plans Of Jio Platforms, Paras Healthcare, Bharat PET And Four Other Companies The price band was Rs 94-Rs 99 per share, while the minimum application size was 151 shares.Where Will IPO Funds Be Used?Annu Projects plans to spend Rs 15.41 crore from the net proceeds on purchasing machinery and equipment, while Rs 115 crore has been earmarked for working capital requirements.Veegaland Developers IPO To Open On September 10; Price Band Fixed At ₹130-140 Per Share The remaining funds will be used for general corporate purposes.Key RisksThe company’s offer document highlighted its dependence on telecom and sewerage businesses, which contributed 94 per cent of FY26 revenue.Government clients accounted for up to 65 per cent of FY26 revenue, while its top 10 customers contributed around 98 per cent of revenue in FY25 and FY26.Established in 2003, Annu Projects operates across telecom, sewerage, gas pipelines and railway signalling infrastructure.

Annu Projects Ltd debuted weakly on the stock market, listing at a 27% discount to its IPO price of Rs 99, opening at Rs 72 on NSE and Rs 75 on BSE.