Annu Projects opened its IPO on August 25 with an issue size of around Rs. 175.06 cr. The price band has been fixed at Rs. 94–99 per share, with the bidding window closing on August 28.
The company operates in infrastructure-related areas including telecom infrastructure, sewerage infrastructure and gas-pipeline services. Early subscription was relatively subdued, with the issue receiving only limited bids during the initial part of Day 1.
The next two sessions will be important in determining whether demand improves. Investors should assess the company’s order book, profitability, working-capital requirements and valuation before considering the issue.
