Annu Projects Listing Preview: Shares List September 2 After Late Surge Lifts Final Subscription to 2.93x

Annu Projects Limited's shares are scheduled to list on the NSE and BSE on September 2, 2026, following the close of its Rs 175.06 crore initial public offering on August 28, 2026. The issue closed with a final overall subscription of 2.93 times, a notable turnaround from the 0.86 times subscription recorded as of the close of Day 3, highlighting how institutional demand often materialises in the closing hours of bidding.

Final category-wise figures show the non-institutional investor (NII) category leading demand at 3.55 times, followed closely by retail investors at 2.68 times, while the qualified institutional buyer (QIB) category was subscribed 1.72 times, a sharp rise from its earlier undersubscribed levels.

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About Annu Projects

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Annu Projects Limited is an engineering, procurement, and construction (EPC) company focused on building overhead and underground utility infrastructure across telecom, sewerage, and gas pipeline segments, serving public sector clients including Bharat Sanchar Nigam Limited, GAIL, and Gujarat Gas. As of June 30, 2026, the company had 23 ongoing projects worth approximately Rs 1,959.35 crore, with close to 87% tied to government clients.

Annu Projects IPO: Final Details

Parameter	Details
IPO Dates	August 25 to August 28, 2026
Price Band	Rs 94 to Rs 99 per share
Total Issue Size	Rs 175.06 crore (entirely fresh issue)
Final Overall Subscription	2.93x
NII Subscription	3.55x
Retail Subscription	2.68x
QIB Subscription	1.72x
Allotment Date	August 31, 2026
Listing Date	September 2, 2026
Listing Exchanges	NSE and BSE

The Late-Stage Turnaround Explained

Annu Projects' subscription trajectory illustrates a pattern seen across many IPOs: the issue remained undersubscribed through the first three days of bidding, with the QIB category showing minimal early interest. However, institutional investors typically place the majority of their bids in the final hours of an IPO window, and Annu Projects saw exactly this dynamic play out, with QIB demand and overall subscription both rising sharply by the close of bidding on August 28.

What to Expect on Listing Day

With the issue ultimately subscribed just under 3 times overall, following a considerably more modest start, investors should track how the stock performs relative to its Rs 99 issue price when trading begins on September 2. The moderate final subscription level, compared to some of the other mainboard IPOs from the same week, suggests a more measured listing-day price discovery process is likely.

Univest does not publish grey market premium figures. Grey market premium is an unofficial and unregulated indicator collected informally outside the stock exchanges. It is not published, verified, or endorsed by SEBI, NSE, or BSE, can vary widely between trackers, and is not always accurate. Investors interested in checking informally reported premium levels may refer to independent trackers such as InvestorGain.com or Chittorgarh.com, treating this data as supplementary only.

Conclusion

Annu Projects' final subscription of 2.93 times, driven by a late-stage institutional and retail rush, sets the stage for its market debut on September 2, 2026. Investors should track the stock's opening trade on the NSE and BSE and evaluate the company's EPC business fundamentals for any post-listing investment decisions. This article does not constitute investment advice. Consult a SEBI-registered financial advisor before making any investment decision.

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FAQs on Annu Projects Listing

When does Annu Projects list on the stock exchange?

Ans. Annu Projects shares are scheduled to list on the NSE and BSE on September 2, 2026.

What was the final subscription for the Annu Projects IPO?

Ans. The Annu Projects initial public offering closed with a final overall subscription of 2.93 times, up sharply from 0.86 times as of Day 3, with NII demand at 3.55 times, retail at 2.68 times, and QIB at 1.72 times.

Why did Annu Projects' subscription improve so much on the final day?

Ans. Qualified institutional buyers typically place the bulk of their bids in the final hours of an IPO's bidding window, and Annu Projects saw exactly this pattern, with QIB demand and overall subscription both rising sharply by the close of bidding.

What does Annu Projects do?

Ans. Annu Projects is an EPC company that builds overhead and underground utility infrastructure across telecom, sewerage, and gas pipeline segments, serving government clients like BSNL, GAIL, and Gujarat Gas.

When was the Annu Projects IPO allotment finalised?

Ans. The basis of allotment for Annu Projects was finalised on August 31, 2026, ahead of the September 2, 2026 listing.

Should I buy Annu Projects shares on listing day?

Ans. Whether to hold or buy on listing day depends on individual risk tolerance and the company's long-term fundamentals, rather than the subscription figures alone. This article does not constitute investment advice. Consult a SEBI-registered financial advisor before making any investment decision.