Shares of Annu Projects made a weak debut on Dalal Street on Wednesday, listing at a 27% discount to its IPO price. The stock opened at Rs 72 on the NSE and Rs 75 on the BSE, against the issue price of Rs 99.
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.
