Annu Projects IPO subscribed 2.23 times on closing day, NIIs lead demand
The NII portion was subscribed 2.55 times, followed by the retail portion at 2.09 times and the QIB quota at 1.64 times.
Annu Projects IPO garnered significant interest, with subscriptions 2.23 times the offering size by 2:24 pm on Friday, primarily driven by non-institutional investors. The non-institutional investor (NII) portion was particularly strong, being subscribed 2.55 times. The retail portion came in at 2.09 times, while the Qualified Institutional Buyer (QIB) quota had a subscription of 1.64 times.
The company priced its ₹175-crore IPO within a range of ₹94-99 per share, issuing a fresh 1,76,83,000 equity shares. The proceeds will be allocated to address working capital requirements (₹115 crore), capital expenditure (₹15 crore), and general corporate purposes. Mefcom Capital Markets Ltd acted as the book running lead manager, with Kfin Technologies Ltd serving as the registrar.
Annu Projects specializes in designing, developing, implementing, operating, and maintaining essential overhead and underground utilities infrastructure for telecom, sewerage, gas pipeline, and railway signalling sectors.
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