The stock opened at Rs 72 on the NSE and Rs 75 on the BSE, against the issue price of Rs 99.The IPO opened for subscription on August 25 and closed on August 28, attracting an overall subscription of 2.93 times.
Retail investors bid for 2.68 times the shares reserved for them, while the Qualified Institutional Buyers (QIB) category was subscribed 1.72 times.
The Non-Institutional Investors (NII) segment recorded stronger demand, with subscription reaching 3.55 times.The Rs 175.06 crore public issue comprised entirely of fresh equity shares, with no Offer for Sale (OFS) component.
A total of 1.77 crore equity shares were offered in the price band of Rs 94 to Rs 99 per share.Mefcom Capital Markets Ltd. acted as the book-running lead manager for the issue, while Kfin Technologies Ltd. served as the registrar.With the grey market sentiment turning cautious, investors will be watching closely to see whether Annu Projects can buck the pre-listing trend and deliver a strong debut on the bourses.IPO Objects of the IssueThe company plans to use the net proceeds from the IPO primarily to strengthen its operational and financial requirements.
Of the estimated total proceeds of Rs 130.41 crore, Rs 15.41 crore has been earmarked for capital expenditure, including the purchase of machinery and equipment.
