Annu Projects Limited IPO to Raise ₹175 Crore; Price Band Set at ₹94–99

August 21, 2026 Bilkul Bazaar

 Sanjay Kumar Sarraf: Annu Projects Eyes Growth with ₹175-Crore IPO

 Sanjay Kumar Sarraf: Strong Order Book Positions Annu Projects for Growth

Bilkul Bazaar

Ahmedabad

Annu Projects Limited, an engineering, procurement and construction (EPC) company specialising in telecom, sewerage and gas pipeline infrastructure, has announced a price band of ₹94–₹99 per equity share for its initial public offering (IPO). The issue will open for subscription on August 25 and close on August 28, 2026.

The company plans to raise ₹175 crore through a fresh issue of 1.7683 crore equity shares and will seek listing on the BSE and NSE. Mefcom Capital Markets Ltd is the Book Running Lead Manager, while Kfin Technologies Ltd is the Registrar to the issue.

Of the IPO proceeds, ₹115 crore will be utilised to meet working capital requirements, while ₹15.41 crore will be used for purchasing machinery and equipment. The balance will be deployed towards general corporate purposes.

Established in 2003, Annu Projects undertakes the design, development, implementation, operations and maintenance of essential overhead and underground utility infrastructure. Its key verticals include telecom infrastructure, sewerage infrastructure, gas pipelines and railway signalling.

As of June 30, 2026, the company had 23 ongoing projects with an aggregate order book of ₹195.93 crore, according to the information provided by the company. Its projects include four telecom infrastructure projects, 14 sewerage projects, four gas pipeline projects and one railway signalling project.

Telecom infrastructure contributed 41.50% of revenue in FY2026, while sewerage infrastructure accounted for 52.67%, gas pipelines 4.03% and other segments 1.80%. The company has also undertaken major optical fibre cable projects and has laid more than 25,000 km of optical fibre cable across India.

For FY2026, Annu Projects reported revenue from operations of ₹241.25 crore and profit after tax (PAT) of ₹33.03 crore, compared with revenue of ₹180.07 crore and PAT of ₹21.10 crore in FY2025.

CMD Sanjay explained that ,“The proposed IPO marks an important milestone in Annu Projects’ growth journey. With a strong order book, established execution capabilities and opportunities across telecom, sewerage, gas pipeline and railway infrastructure, we believe we are well positioned to participate in India’s expanding infrastructure development. The funds raised will strengthen our working capital position and enhance our machinery and equipment capabilities, enabling us to execute larger and more complex projects,” said Sanjay Kumar Sarraf, Chairman and Managing Director, Annu Projects Limited.

Annu Projects IPO — Quick Snapshot

Issue Size: ₹175 crore
Issue Type: Fresh Issue of 1.7683 crore shares
Price Band: ₹94–₹99 per share
IPO Dates: August 25–28, 2026
Listing: BSE & NSE
Face Value: ₹10 per share
Lead Manager: Mefcom Capital Markets Ltd
Registrar: Kfin Technologies Ltd
IPO Proceeds: ₹115 crore for working capital; ₹15.41 crore for machinery/equipment; balance for general corporate purposes
Order Book: ₹195.93 crore as of June 30, 2026
Key Sectors: Telecom, sewerage, gas pipelines and railway signalling
FY26 Revenue: ₹241.25 crore
FY26 PAT: ₹33.03 crore
Promoters: Sanjay Kumar Sarraf (CMD) and Krishna Ranjan (WTD)

The company is led by promoter and CMD Sanjay Kumar Sarraf and Whole-Time Director Krishna Ranjan, who have been associated with the company since its inception. Annu Projects currently employs 2,973 people, including contractual personnel.

Disclaimer: This article is for information purpose only and is not investment advice. Please read the IPO documents carefully before investing.

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