Annu Projects IPO draws 2.93x subscription before weak debut
In short
Annu Projects raised Rs 175 crore in its IPO, and the offer was subscribed 2.93 times overall. After listing, the stock started at up to 27.27% below the IPO price before hitting upper circuit.
This shows the issue had strong demand before listing, but the debut price was weak.
What the reporting says
Annu Projects raised Rs 175 crore through an IPO that was subscribed 2.93 times overall, according to the BusinessLine summary. The reported figures show strong issue demand but a weak opening price.
Why it matters
Annu Projects raised Rs 175 crore through an IPO that drew 2.93 times overall subscription, then listed at up to a 27.27% discount to the issue price before hitting upper circuit. The combination points to solid demand for the offer but a choppy debut in the secondary market.