Annu Projects IPO: ₹72 listing chatter vs GMP signals

Why the ₹72 listing number is getting shared

Posts on Reddit and social feeds are circulating a “lists at ₹72” line alongside Annu Projects IPO chatter. In the same threads, the ₹72 figure is explicitly shown for Hy-Tech Engineers Mainboard, not for Annu Projects. The Hy-Tech Engineers snippet says it listed at ₹72 with a 35.8% gain and also shows a separate “Change 48.6%” line. Those Hy-Tech Engineers lines also mention subscription of 244.41 times and a listing date of 1 Sep 2026. By contrast, Annu Projects is shown as listing on 2 Sep 2026, so the timing in the shared screenshots does not match the ₹72 headline. The practical takeaway from the shared context is that the ₹72 number cannot be treated as Annu Projects’ confirmed listing price based on what is provided. What is clearly present for Annu Projects is the IPO price band, demand data, and grey-market premium (GMP) updates. If you are tracking Annu Projects specifically, the GMP and subscription figures in the posts are the relevant reference points.

Annu Projects IPO snapshot from trackers

The shared details put Annu Projects IPO in a price band of ₹94 to ₹99 per share. The issue size is stated as ₹175.06 crore across multiple snippets. One tracker mentions the company is offering 1.77 crore shares under a book-building issue structure. The lot size is 151 shares, which is repeated across the context. At the upper band of ₹99, the minimum retail application amount is shown as ₹14,949 for one lot. Another snippet shows ₹14,194 as the minimum investment, which aligns with applying at the lower end of ₹94 for 151 shares. The IPO timeline in the posts includes an open date of 25 Aug 2026 and a close date of 28 Aug 2026. The allotment date is shown as 31 Aug 2026, with listing scheduled for 2 Sep 2026.

Subscription: moderate demand, with NIIs leading

The IPO is described as subscribed 2.93x overall in the shared subscription snapshots. Retail participation is shown around the mid-2x range, with figures like 2.62x and 2.68x appearing in different captures. QIB demand is shown as 1.72x in the consolidated table shared in the context. Non-institutional investors (NIIs) are shown as the strongest segment at about 3.54x to 3.55x. One earlier timeline capture also shows how the book looked weaker mid-way, with overall subscription shown at 0.88x on 27 Aug 2026 at 11:30 IST. That same snapshot shows QIBs at 1.16x, NIIs at 0.9x, and retail at 0.81x at that point. The later 2.9x to 2.93x prints indicate bidding picked up into the close. From the numbers shared, the demand picture looks “moderate” rather than an extreme oversubscription story.

GMP moved from flat to negative in the latest update

The grey-market discussion in the shared context is mixed, because it captures multiple points in time. One post says GMP was ₹4, implying a possible 4% listing gain over the ₹99 upper band at that moment. Another update says the GMP was currently zero, suggesting a flat listing based on prevailing grey-market trends at that time. The most recent figure in the provided context is a GMP of negative ₹3 per share as of 2 Sep 2026, 7:00 AM IST. That latest GMP is described as a 3% discount to the ₹99 upper price band. The same thread notes GMP fell by ₹3 from the previous recorded quote. It also states the GMP ranged from negative ₹3 to positive ₹3 during the recorded period. Separately, one line says the latest GMP is negative ₹3, down from ₹0. All of these statements together point to weakening grey-market sentiment into the expected listing day.

Indicative listing price: what the numbers actually imply

Using the latest shared GMP of negative ₹3, the indicative price is presented as ₹96. That indicative price is calculated in the post as ₹99 (upper band) minus ₹3 (GMP). The context also clearly flags that GMP is unofficial and unregulated. It is repeated that GMP can change before listing and does not guarantee actual listing price or returns. This matters because the same dataset shows GMP at ₹4 earlier, then ₹0, and then negative ₹3. If you are comparing the “₹72 listing” chatter to the GMP-led indicative pricing, the two do not reconcile within the Annu Projects data provided. The only ₹72 value shown in the shared context is for Hy-Tech Engineers, so readers should separate the two IPOs when interpreting screenshots. For Annu Projects, the best you can do from the provided content is treat ₹96 as an indicative figure based on the latest GMP print. Any final listing price for Annu Projects is not stated in the provided snippets.

Financial performance figures being discussed for Annu Projects

Several financial growth figures are included in the social and tracker summaries. One set states operating revenue grew at a CAGR of 25.2%, rising from ₹153.98 crore in FY24 to ₹241.25 crore in FY26. Another set presents a year-on-year view, with total income rising 34% from ₹182.35 crore in FY25 to ₹244.59 crore in FY26. Profitability is also described as improving, with net profit said to have grown at a CAGR of 37.8% from ₹17.39 crore in FY24 to ₹33.03 crore in FY26. The year-on-year PAT number in the context shows PAT rising 56% from ₹21.10 crore in FY25 to ₹33.03 crore in FY26. While these are summary figures and not full financial statements, they are the key operating metrics cited in the shared posts. The posts do not provide quarterly trends, order book numbers, or segment splits. They also do not provide cash flow details, so any conclusions need to stay limited to the stated revenue and profit growth. Investors following the discussion are largely using these FY24 to FY26 growth numbers alongside GMP and subscription.

Valuation talk: “fully priced” but long-term subscribe call

One brokerage view cited in the context is from AnandRathi’s research note. It states Annu Projects is at an implied P/E of 19.6x on FY2026 earnings at the upper price band. The same note says the IPO valuation appears fully priced at the upper band. Despite that, the recommendation quoted is “Subscribe – Long Term.” This combination is being shared in the context as a way to frame expectations beyond listing-day performance. It also fits with the subscription picture, where demand is not extreme but is above fully subscribed overall. The context does not include alternative broker reports, target prices, or peer valuation comparisons. It also does not include anchor allocation details or institutional commentary beyond the QIB subscription multiple. As a result, the valuation discussion in the shared content stays narrowly focused on the single P/E reference and the phrasing of the recommendation. Readers should treat it as one data point, not a consensus.

Use of proceeds and FY26 KPI snapshot

The shared tables include a partial breakdown of intended use of funds. One line item shows ₹15.41 crore for capital expenditure related to purchase of machinery or equipment. Another line item shows ₹115.00 crore for working capital requirements. The posts also share a KPI table for the fiscal year ended March 31, 2026. It lists ROE at 21.27% and ROCE at 22.66%. EBITDA margin is shown as 20.81% and PAT margin as 13.69%. Debt-to-equity is shown as 0.34 times, and EPS (pre-IPO) is shown as ₹6.91. NAV per equity share is shown as ₹32.47, and RoNW is repeated at 21.27%. These metrics are being used in social discussions to compare profitability and leverage, even though the full financial statements are not included in the snippets. As always, the interpretation should remain limited to the figures explicitly provided.

Dates, tracking steps, and key contacts shared online

The timeline repeated in the context is open 25 Aug 2026, close 28 Aug 2026, allotment 31 Aug 2026, and listing 2 Sep 2026. One snippet says “Listing Exchange BSE,” while another says trading begins on BSE and NSE, so the social feed reflects multiple tracker formats. For tracking after listing, the shared steps mention using 5Paisa by logging in, opening the IPO section, selecting the company, and checking listing price and market price. The same checklist suggests adding the stock to a watchlist to monitor post-listing moves. Company contact information is also circulated, including a South Delhi registered office address and phone number +91 11 40114238. Registrar details are presented as KFin Technologies Limited, with an email annuprojects.ipo@kfintech.com and a phone number +91 49 6716 2222 in the snippet. Another contact number 040-79615565 appears in the registrar contact section shared in posts. Separately, IIFL customer care and WhatsApp support numbers are listed in the context, which some applicants use for application-related queries. If you are verifying any detail, use the registrar and exchange disclosures rather than relying on forwarded screenshots.