Annu Projects Limited opens IPO today seeking 175.06cr priced ₹94-99
Business
Annu Projects Limited, an engineering, procurement, and construction (EPC) company, is opening its IPO on August 25 to raise ₹175.06 crore.
Shares are priced between ₹94 and ₹99 each, and you'll need to buy at least 151 shares if you're interested.
The IPO closes on August 28, so there's just a short window if you want in.
Company earmarks 115cr 15.4cr analysts split
Most of the funds will help the company run daily operations and buy new equipment, with ₹115 crore set aside for working capital and ₹15.4 crore for machinery.
Analyst opinions are split: Anand Rathi suggests subscribing for the long term, but SBI Securities is more cautious, pointing out risks like heavy reliance on government contracts and a tricky cash flow cycle.