Annu Projects plans fund raise via IPO for working capital needs, files draft papers

 New Delhi-based Annu Projects, the overhead and underground utilities infrastructure provider, plans to tap capital markets for raising funds for its working capital requirements, as it has filed preliminary papers with the SEBI to float IPO.

The IPO comprises of entirely fresh issue of 2.2 crore equity shares by the company, with no offer-for-sale component.

The diversified company in the EPC sector involves in the fields ranging from fibre optics to sewerage projects and also undertakes gas pipeline projects.

It has implemented more than 25,000 kms of optical fibre cables (OFC) network, more than 125 kms of sewerage pipes projects, and more than 460 kms of MDPE laying for domestic gas connections in the gas pipeline vertical.