Weak Market Debut: Annu Projects Shares List at over 27% Discount to Its IPO Price

Annu Projects shares list 27% below IPO price, hit upper circuit

The engineering, procurement and construction firm had raised ₹175 crore through an IPO that attracted 2.93 times overall subscription.

Weak market debut: Annu Projects shares list at over 27% discount to its IPO price

On the BSE, the shares of Annu Projects were listed at Rs 75 per share, a discount of 24%.

Annu Projects IPO listing today: GMP signals caution ahead of market debut

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.

Annu Projects Shares Debut At 27% Discount To IPO Price

Annu Projects shares made a weak market debut, listing up to 27% below the Rs 99 IPO price, despite the public issue receiving 2.93 times subscription.

Annu Projects shares list at 27 pc discount against IPO price

New Delhi, Sep 2 (SocialNews.XYZ) Annu Projects shares made a weak debut on the stock exchanges on Wednesday and have listed at a discount of up to 27 per cent to the issue price. The stock listed at Rs 75 on the BSE, a discount of 24.24 per cent to the issue price of Rs 99. Meanwhile, on the National Stock Exchange, the stock debuted at Rs 72, down 27.27 per cent from the offer price. In addition, the stock declined as much as 28 per cent in ea…