Kolkata: The primary market is reviving. Annu Projects, which is an engineering, procurement, and construction (EPC) company, is throwing open its bidding window today, August 25. Annu Projects IPO intends to raise Rs 175.06 crore through a book built issue.
A bright point is that it consists of only a fresh issue of 1.77 crore shares and there are no OFS shares.
Annu Projects IPO GMP
According to investorgain, Annu Projects IPO GMP stood at zero in the evening of August 24. With the upper price band of Rs 99.00, Annu Projects IPO’s estimated listing price will be Rs 99 and the listing gain would be 0.00%. However, it must be kept in mind that GMP is an unofficial gauge that can be volatile and cannot guarantee any listing gain.
Annu Projects IPO price band, lot size
The Annu Projects IPO price band has been set at Rs 94-99 per share. For a retail investor, the minimum lot size for an application is 151 shares. For this lot, a retail investor has to apply with Rs 14,949 based on the upper price. Mefcom Capital Markets is the book running lead manager and Kfin Technologies is the registrar of the issue.
Annu Projects IPO key dates
Bid opens: Today, August 25
Bid closes: August 28
Allotment: August 31
Refund: August 31
Credit of shares: September 1
Listing: September 2
Business of Annu Projects
Annu Projects is an engineering, procurement, and construction (EPC) company which is engaged in design, development, implementation, operations and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure vertical and gas pipeline vertical.
In telecom, it is engaged in surveying, designing and installing cabling and tower infrastructures for communication, automation, and electronic security system. The customers of the company include BSNL, A2Z Infra Engineering Limited, Bharat Broadband Network Limited and G R Infraprojects Limited.
In sewerage it lays pipes, constructs manholes, builds sewerage treatment plants, constructs pumping stations. In the gas business, it lays MDPE ranging from 20 mm to 125 mm in diameter, along with 38,300 GI house connections for domestic and commercial gas supply. Institutional customers in this vertical include Indraprastha Gas Limited, Gujarat Gas Limited and GAIL India Limited.