Annu Projects turns wealth destroyer on Dalat Street debut; shares list at 27% discount
Annu Projects sold its shares in the price band of Rs 94-99 apiece, applied for a minimum of 151 shares and its multiples to raise Rs 165 crore between August 25-28.
- Sep 2, 2026,
- Updated Sep 2, 2026 9:51 AM IST
Shares of Annu Projects disappointed investors at the stock market debut on Wednesday, September 02 as the EPC solutions player was listed at 72 on NSE, a steep discount of 27.27 per cent against the issue price of Rs 99 apeice. Similarly, the stock settled at a sharp discount of 24.24 per cent against the given issue price at Rs 75 on BSE Ltd.
According to the listing price, investors made a loss of Rs 4,077 on each lot allotted to them. Listing of Annu Projects has been sharply below the expectations. Ahead of its debut, shares of Annu Projects were trading at a discount of Rs 7-8 apeice in the grey market, suggesting nearly 7-8 per cent for weakness on listing.
IPO of Annu Projects was open for bidding between August 25 and August 28 as the company raised a total of Rs 175 crore from its primary offering, which was entirely fresh share sale 1,76,83,000 equity shares. The company sold its shares in the range of Rs 94-99 apeice, with a lot size of 151 equity shares.
According to the data, the IPO of Rajputana Stainless was subscribed 2.93 times during the bidding process, fetching bids for 513.26 crore through 1.42 lakh applications. On an individual basis, qualified institutional bidders' (QIB) portion was booked 1.72 times, while non-institutional investors' quota was subscribed 3.55 times. Retail portion was booked 2.68 times.
New Delhi-based Annu Projects is an engineering, procurement, and construction (EPC) company. It is engaged in the design, development, implementation, operations and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure vertical and gas pipeline vertical.
Brokerage firms had a mixed views on the IPO of Annu Projects, citing concerns over cash flows, dependence on government contracts and customer concentration as key risks. Mefcom Capital Markets was the sole book running lead manager of the IPO of Annu Projects while Kfin Technologies Ltd served as the registrar of the issue.
Shares of Annu Projects disappointed investors at the stock market debut on Wednesday, September 02 as the EPC solutions player was listed at 72 on NSE, a steep discount of 27.27 per cent against the issue price of Rs 99 apeice. Similarly, the stock settled at a sharp discount of 24.24 per cent against the given issue price at Rs 75 on BSE Ltd.
According to the listing price, investors made a loss of Rs 4,077 on each lot allotted to them. Listing of Annu Projects has been sharply below the expectations. Ahead of its debut, shares of Annu Projects were trading at a discount of Rs 7-8 apeice in the grey market, suggesting nearly 7-8 per cent for weakness on listing.
IPO of Annu Projects was open for bidding between August 25 and August 28 as the company raised a total of Rs 175 crore from its primary offering, which was entirely fresh share sale 1,76,83,000 equity shares. The company sold its shares in the range of Rs 94-99 apeice, with a lot size of 151 equity shares.
According to the data, the IPO of Rajputana Stainless was subscribed 2.93 times during the bidding process, fetching bids for 513.26 crore through 1.42 lakh applications. On an individual basis, qualified institutional bidders' (QIB) portion was booked 1.72 times, while non-institutional investors' quota was subscribed 3.55 times. Retail portion was booked 2.68 times.
New Delhi-based Annu Projects is an engineering, procurement, and construction (EPC) company. It is engaged in the design, development, implementation, operations and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure vertical and gas pipeline vertical.
Brokerage firms had a mixed views on the IPO of Annu Projects, citing concerns over cash flows, dependence on government contracts and customer concentration as key risks. Mefcom Capital Markets was the sole book running lead manager of the IPO of Annu Projects while Kfin Technologies Ltd served as the registrar of the issue.