Allotment Finalisation and Listing Schedule
The basis of allotment for Annu Projects' initial public offering (IPO) is expected to be finalised today, August 31, according to multiple reports. The company's shares are scheduled to list on both the BSE and the NSE on September 2. Investors who subscribed to the Rs 175.06 crore public issue can check their allotment status online once the process is completed.
The IPO opened for subscription on August 25 and closed on August 28. The issue received an overall subscription of 2.93 times, as reported by The Economic Times and Moneycontrol. Retail investors subscribed 2.68 times the portion reserved for them, while the Qualified Institutional Buyers (QIBs) category saw a subscription of 1.72 times. The Non-Institutional Investors (NIIs) segment recorded stronger demand with a subscription of 3.55 times.
Grey Market Signals
The grey market premium (GMP) for Annu Projects IPO is currently around Rs 0 as of the morning of August 31, according to market sources and data from InvestorGain, as cited by Livemint and Moneycontrol. A nil GMP against the issue price of Rs 99 per share indicates expectations of a flat listing if the premium remains unchanged. However, GMP figures are unofficial and can change before listing; they are based on grey market activity and do not guarantee the actual listing price or future returns.
IPO Details and Use of Proceeds
The public issue consisted entirely of fresh shares, with no offer-for-sale (OFS) component. The company offered 1.77 crore equity shares in a price band of Rs 94 to Rs 99 per share. Mefcom Capital Markets Ltd. was the book-running lead manager for the IPO, while KFin Technologies Ltd. acted as the registrar.
Annu Projects Limited, an engineering, procurement, and construction (EPC) company, plans to use the IPO proceeds for working capital requirements and capital expenditure. According to Moneycontrol, the company intends to utilise Rs 115 crore of the proceeds for funding working capital requirements and Rs 15 crore for capital expenditure, including the purchase of machinery and equipment. The remaining proceeds will be used for general corporate purposes.
How to Check Allotment Status
Investors can check their allotment status on the registrar's website (KFin Technologies), as well as on the official websites of the BSE and NSE. On the registrar's platform, investors need to select 'Annu Projects' from the dropdown, choose their application number, demat account, or PAN, and submit the details to view the status. On the BSE and NSE platforms, similar steps involve selecting the issue type as 'Equity' and entering the application number or PAN.
As the listing date approaches, investors will watch the final allotment details and the GMP. The listing performance will be tracked against the issue price of Rs 99 per share.