MUMBAI, India | August 25, 2026 —
India’s primary market gets two new offers on Tuesday as the Annu Projects IPO and Sumax Engineering IPO open for subscription on August 25, giving investors a choice between a mainboard infrastructure company and an SME automotive-products business.
Both IPOs are scheduled to remain open until August 28, with tentative listings on September 2, 2026.
Annu Projects has fixed its price band at ₹94–₹99 per share, while Sumax Engineering is offering shares in a ₹95–₹101 price band.
However, the two offers differ sharply in size, minimum application requirement, business profile and listing platform. Investors should understand those differences before submitting an application.
IPO Today August 25: Key Details at a Glance
| Detail | Annu Projects IPO | Sumax Engineering IPO |
|---|---|---|
| Opens | August 25 | August 25 |
| Closes | August 28 | August 28 |
| Price Band | ₹94–₹99 | ₹95–₹101 |
| Lot Size | 151 shares | 1,200 shares |
| Issue Size | ₹175.06 crore | ₹53.40 crore |
| Segment | Mainboard | SME |
| Listing | BSE and NSE | NSE Emerge |
| Tentative Listing | September 2 | September 2 |
The application structure is particularly important because SME IPO rules can result in a significantly larger minimum investment than a typical mainboard issue.
Annu Projects IPO: Price Band and Issue Size
The Annu Projects IPO is a book-built mainboard issue with a price band of ₹94 to ₹99 per equity share.
At the upper end of the band, the company aims to raise approximately ₹175.06 crore.
The issue consists entirely of fresh equity shares, meaning the proceeds go to the company rather than existing shareholders selling shares through an offer for sale.
The IPO comprises up to approximately 1.77 crore equity shares.
How Much Money Is Needed for Annu Projects IPO?
The lot size for Annu Projects is 151 shares.
At the upper price of ₹99, one lot requires approximately:
151 × ₹99 = ₹14,949
This makes the mainboard IPO accessible at a substantially lower application amount than the Sumax Engineering SME offer.
Investors should use the final application amount displayed by their broker or banking platform when submitting bids.
What Does Annu Projects Do?
Annu Projects is an engineering, procurement and construction company operating in essential utility infrastructure.
Its activities include the design, development, implementation, operation and maintenance of overhead and underground infrastructure.
The company works across areas including:
- Telecom infrastructure
- Sewerage infrastructure
- Gas pipelines
- Railway signaling
As of June 30, 2026, its aggregate order book stood at approximately ₹1,005.05 crore.
That order book will likely be one of the figures investors examine when evaluating the company’s future revenue visibility.
Where Will Annu Projects Use the IPO Money?
Because Annu Projects is raising fresh capital, the use of proceeds is an important part of the investment case.
The company plans to use approximately ₹115 crore for working-capital requirements and around ₹15.4 crore for machinery and equipment, with the remaining proceeds earmarked for general corporate purposes.
Working capital can be particularly important for EPC companies because they often have to fund projects before receiving full payment from customers.
However, investors should also examine cash flows, receivables, execution risk and customer concentration rather than relying only on the size of the order book.
Annu Projects Financial Performance
For the financial year ended March 2026, Annu Projects reported standalone revenue of approximately ₹241.2 crore and profit of around ₹33 crore.
Past growth, however, does not guarantee similar performance after listing.
Infrastructure businesses can be affected by project delays, working-capital requirements, competitive bidding and execution costs.
These factors deserve attention before an IPO application.
Sumax Engineering IPO Opens August 25
The second offer opening Tuesday is the Sumax Engineering IPO.
Unlike Annu Projects, this is an SME IPO scheduled to list on NSE Emerge.
Sumax Engineering has fixed its price band at ₹95 to ₹101 per share, with a total issue size of approximately ₹53.40 crore.
The lot size is 1,200 shares.
Sumax Engineering Minimum Investment Needs Extra Attention
This is where investors need to be particularly careful.
Although one lot contains 1,200 shares and is worth ₹121,200 at the upper price of ₹101, the minimum application requirement displayed by current IPO platforms for retail participation can be higher under the applicable SME bidding structure.
Current IPO information shows a minimum application of 2,400 shares, or approximately:
2,400 × ₹101 = ₹242,400
for the relevant minimum retail bid.
Investors should confirm the applicable bidding quantity on their broker platform before applying because SME application requirements differ from mainboard IPOs.
What Does Sumax Engineering Do?
Sumax Engineering operates in the automotive-products ecosystem.
The company manufactures and trades products used by automotive original equipment manufacturers and the auto-refinish market.
Its product portfolio includes items such as:
- Adhesive tapes
- Die-cut products
- Rubbing and polishing compounds
- Buffing pads
- Reflective tapes
- Printing solutions
- Domes and graphics
- Car-care products
The business therefore provides investors exposure to a different sector than Annu Projects.
Sumax Engineering IPO Issue Structure
The Sumax Engineering IPO has an aggregate size of approximately ₹53.40 crore.
Available issue details indicate a fresh-issue component of roughly ₹43.34 crore, along with an offer-for-sale component of about ₹10.06 crore.
That distinction matters.
Money raised through a fresh issue goes to the company, subject to the stated use of proceeds.
Money raised through an OFS goes to the selling shareholders rather than becoming fresh capital for the business.
Mainboard IPO vs SME IPO: What’s the Difference?
Investors comparing today’s two IPOs should not treat them as identical simply because they open on the same date.
Annu Projects is a mainboard IPO.
Sumax Engineering is an SME IPO.
SME shares can have different trading-lot requirements and liquidity characteristics.
Minimum application sizes can also be considerably larger.
That means an investor comfortable applying for a ₹15,000-range mainboard IPO may not necessarily be comfortable committing more than ₹2 lakh to an SME offer.
The risk assessment should therefore be different.
IPO Calendar: What Happens After August 28?
Both issues are scheduled to close on Friday, August 28.
For Annu Projects, the tentative timetable currently shows:
Allotment: August 31
Refund initiation: September 1
Shares credited to demat: September 1
Listing: September 2
Sumax Engineering currently has a broadly similar tentative schedule, with allotment expected around August 31 and listing scheduled for September 2.
IPO schedules can change, so applicants should check exchange and registrar updates after the issue closes.
Should Investors Look at IPO GMP?
Search interest around IPO GMP, or grey market premium, usually rises sharply when a public issue opens.
But GMP requires caution.
The grey market is unofficial and is not the same as the regulated stock exchange.
Grey-market prices can change rapidly and should not be treated as a guaranteed indicator of listing performance.
At the time of the latest available update, one IPO tracker reported that a meaningful grey-market premium had not yet started for Annu Projects.
Rather than making GMP the center of an investment decision, investors should examine the company’s prospectus, financial performance, valuation, risks and use of proceeds.
Why India’s IPO Market Is Busy This Week
Annu Projects and Sumax Engineering are part of a much larger primary-market pipeline.
Between August 24 and August 31, around 10 companies are expected to collectively seek more than ₹3,300 crore, with offers spanning pharmaceuticals, logistics, engineering, infrastructure and power-transmission businesses.
That creates significant choice for investors—but also makes selectivity more important.
Having several IPOs available at once does not mean investors need to apply for every issue.
What Investors Should Check Before Applying
Before applying for either IPO, investors should examine the Red Herring Prospectus and pay particular attention to business risks, debt, cash flow, customer concentration, promoter background, use of proceeds and valuation.
For Annu Projects, working-capital requirements and execution of the existing order book are particularly relevant.
For Sumax Engineering, investors should consider the SME structure, minimum application size, liquidity after listing and the company’s exposure to automotive demand.
An IPO is an equity investment, not a fixed-return product.
Listing gains are never guaranteed.
How to Apply for an IPO Through UPI
Eligible retail investors can generally submit IPO bids through supported broker platforms or ASBA-enabled banking channels.
For UPI-based applications, the basic process usually involves selecting the IPO, entering the bid quantity and price, providing a valid UPI ID and approving the mandate in the UPI application.
The amount is blocked rather than immediately transferred.
If shares are allotted, the required amount is debited according to the applicable process. If the applicant does not receive an allotment, the blocked funds are released.
Investors should approve mandates before the specified deadline rather than waiting until the final minutes of the issue.
Annu Projects vs Sumax Engineering: Which IPO Is Cheaper to Apply For?
From a minimum-commitment perspective, the difference is substantial.
At the upper price band:
Annu Projects: around ₹14,949 for one 151-share lot.
Sumax Engineering: current SME bidding information indicates a minimum retail application of approximately ₹242,400 for 2,400 shares.
That does not tell investors which company is a better investment.
It simply shows that the capital commitment and market structure are very different.
IPO Today: The Bottom Line
For investors searching for IPO today August 25, the two fresh offers provide distinctly different choices.
Annu Projects brings a ₹175.06 crore mainboard infrastructure IPO with a ₹94–₹99 price band and a relatively small application lot.
Sumax Engineering brings a ₹53.40 crore NSE SME issue with a ₹95–₹101 price band and a much larger minimum capital requirement under the current SME bidding structure.
Both close on August 28 and are tentatively scheduled to list on September 2.
Investors should therefore look beyond the price band and compare business quality, valuation, financial performance, issue structure, risk factors and required investment before applying.
This article is for informational purposes only and does not constitute investment advice.
