IPO Listed — 02 Sep 2026
Listing Price: ₹72
Annu Projects IPO GMP History | Listing Price ₹72 & Kostak Rate
Annu Projects IPO has been listed on September 2, 2026 at a listing price of ₹72, against the issue price of ₹99 — a loss of ₹27 (-27.27%). The GMP peaked at ₹7 on 27 August 2026 and reached a low of ₹-7 on 2 September 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Annu Projects IPO raised ₹175.06 Cr. through its IPO at a price band of ₹94 to ₹99 per share, with a lot size of 151 shares. The IPO was open for subscription from 25 Aug 2026 to 28 Aug 2026.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 02 Sep 2026 | ₹ -7 | -7.07% | ₹ 0 | ₹ 0 | |
| 01 Sep 2026 | ₹ -7 | -7.07% | ₹ 0 | ₹ 0 | |
| 31 Aug 2026 | ₹ -2 | -2.02% | ₹ 0 | ₹ 0 | |
| 30 Aug 2026 | ₹ 1 | 1.01% | ₹ 0 | ₹ 0 | |
| 29 Aug 2026 | ₹ 1 | 1.01% | ₹ 0 | ₹ 0 | |
| 28 Aug 2026 | ₹ 1 | 1.01% | ₹ 0 | ₹ 0 | |
| 27 Aug 2026 | ₹ 7 | 7.07% | ₹ 0 | ₹ 0 | |
| 26 Aug 2026 | ₹ 4 | 4.04% | ₹ 0 | ₹ 0 | |
| 24 Aug 2026 | ₹ 4 | 4.04% | ₹ 0 | ₹ 0 | |
| 23 Aug 2026 | ₹ 4 | 4.04% | ₹ 0 | ₹ 0 | |
| 22 Aug 2026 | ₹ 4 | 4.04% | ₹ 0 | ₹ 0 | |
| 21 Aug 2026 | ₹ 4 | 4.04% | ₹ 0 | ₹ 0 |
Annu Projects IPO Dates
| Event | Date |
|---|---|
| Open Date | 25 Aug, 2026 |
| Close Date | 28 Aug, 2026 |
| Allotment Date | 31 Aug, 2026 |
| Refund Date | 31 Aug, 2026 |
| Credit to Demat | 01 Sep, 2026 |
| Listing Date | 02 Sep, 2026 |
Annu Projects IPO Actual Listing Price
| Basis | Value |
|---|---|
| Issue Price | ₹99 |
| GMP-Based Estimate (Pre-Listing) | ₹92 (-7.1%) |
| Actual Listing Price | ₹72 (-27.27%) |
| Listing Gain / Loss | ₹-27 per share |
| Listing Date | 02 Sep, 2026 |
Is Annu Projects IPO GMP Reliable?
Grey market premium for Annu Projects IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Annu Projects IPO full review for a fundamentals-based assessment before making any grey market trades.
Annu Projects IPO IPO Kostak Rate Explained
The Kostak rate for Annu Projects IPO was not active during the subscription period, as no grey market premium was established. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not active for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Annu Projects IPO
In telecom infrastructure it surveys, designs and installs cabling and tower infrastructure for communication, automation and electronic security systems. Its customers here include Bharat Sanchar Nigam Limited, A2Z Infra Engineering, Bharat Broadband Network Limited and G R Infraprojects. In sewerage infrastructure it lays pipes and builds manholes, sewerage treatment plants, pumping stations and related structures. In gas pipelines it lays MDPE pipe from 20 mm to 125 mm in diameter and has done 38,300 GI house connections for domestic and commercial gas supply, for customers such as Indraprastha Gas, Gujarat Gas and GAIL India.
As on 30 June 2026 the company had 23 ongoing projects worth about Rs 1,959.35 crore. These were made up of 4 telecom infrastructure projects, 14 sewerage projects, 4 gas pipeline projects and 1 railway signalling project.
Strengths & Risks
Strengths
- ✓ FY2026 was a strong year. Total income grew 34% from Rs 182.35 crore to Rs 244.59 crore and profit after tax grew 56% from Rs 21.10 crore to Rs 33.03 crore.
- ✓ Growth has been consistent. Income rose every year from Rs 155.42 crore in FY2024, and profit from Rs 17.39 crore over the same period.
- ✓ The order book is large compared to yearly sales. It had 23 ongoing projects worth about Rs 1,959.35 crore as on 30 June 2026, against total income of Rs 244.59 crore in FY2026.
- ✓ Return ratios are good, with RoCE of 20.59% and RoNW of 17.29%.
- ✓ The work is spread over three different verticals, telecom, sewerage and gas pipelines, plus one railway signalling project, so it is not dependent on one type of work.
- ✓ Its customers are large and established, including BSNL, Bharat Broadband Network, GAIL India, Indraprastha Gas, Gujarat Gas and G R Infraprojects.
- ✓ At the upper band of Rs 99 the P/E is about 19.64 times on an EPS of Rs 5.04, which is moderate for the growth shown.
- ✓ Net worth more than doubled in two years, from Rs 68.93 crore in FY2024 to Rs 155.26 crore in FY2026.
Risks
- ⚠ Borrowing rose sharply, more than doubling from Rs 22.27 crore in FY2025 to Rs 52.54 crore in FY2026.
- ⚠ The FY2026 figures are on a standalone basis while the earlier years are consolidated, as noted on the offer document, so the three years are not strictly comparable.
- ⚠ Most of the fresh money, Rs 115 crore out of an issue of Rs 175.06 crore, goes into working capital. EPC work blocks a lot of money in unbilled work and retention money.
- ⚠ Most customers are government bodies and public sector companies, where payments are often slow and are decided by budget cycles.
- ⚠ This is a tender driven business. Work has to be won afresh each time on price, so a full order book today does not guarantee the same margin tomorrow.
- ⚠ The order book leans heavily on sewerage work, 14 of the 23 ongoing projects, so it depends on government spending on urban water and sanitation continuing.
- ⚠ EPC contracts carry execution risk. Delays, land or permission problems and cost overruns are common and can turn a profitable contract into a loss.
- ⚠ Promoter holding will come down from 89.11% to 65.05% after the issue.
Frequently Asked Questions about Annu Projects IPO
What is the GMP of Annu Projects IPO?
The current Grey Market Premium (GMP) of Annu Projects IPO is ₹ -7.
What is the Kostak Price of Annu Projects IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Annu Projects IPO is currently not available.
What is the Subject to Sauda Price of Annu Projects IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What was the actual listing price of Annu Projects IPO?
Annu Projects IPO listed on September 2, 2026 at ₹72, against the issue price of ₹99 — a loss of -27.27%.
How did the GMP of Annu Projects IPO trend before listing?
The GMP of Annu Projects IPO was stable in its final days before listing. The GMP peaked at ₹7 on 27 August 2026. View the day-wise table above for the complete GMP history.
Explore Annu Projects IPO Further
For a complete picture before making your investment decision, explore these resources:
