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Rs 175 Crore IPO: Annu Projects Seeks Funds
28 Aug
Summary
- Annu Projects IPO aims to raise ₹175.06 crore via a fresh issue.
- The IPO funds are earmarked for machinery, working capital, and general corporate purposes.
- The company operates in telecom, sewerage, gas pipeline, and railway signalling infrastructure.
Annu Projects, a utilities infrastructure developer, launched its ₹175.06 crore book-built issue on Tuesday, August 25. The mainboard IPO, an entirely fresh issue of 17,683,000 shares, is set to conclude today, Friday, August 28. Funds raised will be allocated to purchasing machinery or equipment, supporting working capital requirements, and for general corporate purposes.
The company specializes in the design, development, implementation, operations, and maintenance of overhead and underground utility infrastructure. Its diverse operations span across telecom, sewerage, gas pipeline, and railway signalling infrastructure. Annu Projects highlights its diversified role within the EPC sector, engaging in projects from fibre optics to sewerage and gas pipelines.
Share allotment for the IPO is scheduled for Monday, August 31, with the company's shares expected to debut on the BSE and NSE on Wednesday, September 2. Analysts note a strong order book of ₹938.65 crore, approximately 3.9 times FY26 revenue, with ongoing projects providing visibility of nearly ₹1,959 crore.
Valuation metrics suggest a post-IPO P/E of around 19.6 times, which is competitive compared to peers like EMS (nearly 24.6 times) and Likhitha Infrastructure (nearly 23.2 times). Industry growth prospects, particularly in India's infrastructure, telecom, and water management sectors, present significant opportunities for EPC contractors like Annu Projects.
