Annu Projects IPO Listing: Shares List At Over 27% Discount On The NSE
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Annu Projects shares listed at over a 27% discount on the NSE. The issue was oversubscribed by 2.93x overall and 2.68x in the retail category.
Annu Projects Limited’s shares made a weak debut on the domestic stock exchanges. They listed at a discount of over 27%. The stock opened at ₹72 apiece on the National Stock Exchange (NSE), a discount of 27.27%. On the Bombay Stock Exchange (BSE), it opened at ₹75 apiece, translating into a discount of 24.24%.
Annu Projects IPO And Subscription Details
Annu Projects' initial public offering (IPO) comprised entirely of a fresh issue of 1.77 crore equity shares. The IPO price band was fixed at ₹94 to ₹99 per equity share. At the upper limit of ₹99 in the price band, the company aimed to raise ₹175.06 crore. The IPO opened for public subscription on Tuesday, 25 August, and closed on Friday, 28 August. The allotment of shares was finalised on Monday, 31 August.
The IPO received moderate investor interest, with the issue getting oversubscribed by 2.93 times overall. The Qualified Institutional Buyer (QIB) quota was subscribed 1.72 times. The non-institutional investor (NII) category was subscribed 3.55 times, whereas the retail portion was subscribed 2.68 times.
About Annu Projects Limited
Annu Projects Limited operates in the engineering, procurement and construction field. Its business verticals are focused on providing overhead and underground utilities infrastructure. The company’s clients are diversified across sectors, including telecom, sewerage, gas and railway. The company has served multiple public sector undertakings (PSUs) and government bodies across several states.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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