Annu Projects Limited has fixed its initial public offering (IPO) price band between ₹94 and ₹99 per equity share, each with a face value of ₹10. The subscription window for the IPO opens on August 25 and closes on August 28, with anchor investor allocation scheduled for August 24. The shares are expected to be listed on the stock exchanges on September 2, according to livemint.com.
The company announced the IPO price band and key dates this week, detailing the timeline for investor participation. The anchor investor portion will be allocated a day before the public subscription begins, allowing institutional investors to secure shares ahead of retail investors. The public subscription period will last four days, providing ample time for investors to apply for shares within the specified price range. The listing date marks when shares will start trading publicly, completing the IPO process.
This IPO comes amid a busy market for public offerings in India, where companies are seeking to raise capital to expand operations and strengthen balance sheets. Annu Projects joins a list of firms tapping public markets this year, reflecting investor appetite for new listings. The price band set by Annu Projects positions it competitively relative to other recent IPOs in the infrastructure and construction sector, where valuations have varied based on company size and growth prospects.
The next key event in the IPO process is the anchor investor allocation on August 24, followed by the subscription window from August 25 to 28. Investors and market participants will watch the subscription levels closely to gauge demand ahead of the September 2 listing date.