Annai Infra Developers IPO Review, Dates, Allotment, Subscription, GMP & DRHP
Last Updated Date: Sep 01, 2023Annai Infra Developers is mainly engaged in Engineering, Procurement and Construction (EPC) activities of water management as also irrigation projects.
Let’s have a detailed review of the company and analytics of the Annai Infra Developers IPO release date, IPO offer price, subscription, Annai Infra Developers IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Annai Infra Developers IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.5/10 |
| Industry Ranking | 7.1/10 |
| Company Background | 7.3/10 |
| Company Reputation | 7.2/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.1/10 |
| Popularity Index | 7.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.1/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 7.4/10 |
| Star Ratings | ★★★★☆ |
Summary of Annai Infra Developers IPO
Annai Infra Developers is mainly engaged in Engineering, Procurement and Construction (EPC) activities of water management as also irrigation projects such as building of dams, laying of pipeline, integrated storm water drains, waste water treatment plants, developing drainage systems, lift irrigation, drip irrigation, reservoirs, canals, installation of irrigation pipeline, etc. among others. Initial Public Offering Issue of Upto 10,000,000 Equity Shares aggregating upto Rs. [●] Million.
From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements:
- Their standalone revenues from operations have increased from Rs. 2,506 million in Fiscal 2016 to Rs. 4,679 million in Fiscal 2018, achieving a CAGR of 36.64% in the five-year period ended March 31, 2018.
- The net asset value per Equity Share was Rs. 44.31 and Rs. 37.43 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Standalone Financial Statements.
- The net worth of the company as on March 31, is Rs. 881.50 million as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
- In the same period, they have their Profit after Tax has increased from Rs. 98.75 million to Rs. 300.58 million at a CAGR of 74.47%.
The Promoters of this company are Mr. Subramaniam Ashok Kumar and Mrs. Duraisamy Kalaiselvi. The lead manager to the issue is Pantomath Capital Advisors Private Limited and the Registrar to this issue is Link Intime India Private Limited.
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Annai Infra Developers IPO Date
The opening and the closing date of Annai Infra Developers IPO is not known yet.
Annai Infra Developers IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| 4th Day – | ||||
| 5th Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Annai Infra Developers IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Annai Infra Developers IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Annai Infra Developers IPO Equity Share Offering
Issue of Upto 10,000,000 Equity Shares aggregating upto Rs. [●] Million.
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Annai Infra Developers Limited – Company Overview
Annai Infra Developers is mainly engaged in Engineering, Procurement and Construction (EPC) activities of water management as also irrigation projects such as building of dams, laying of pipeline, integrated storm water drains, waste water treatment plants, developing drainage systems, lift irrigation, drip irrigation, reservoirs, canals, installation of irrigation pipeline, etc. among others.
This Company intends to tap the growing infrastructure and construction opportunities owing to increased government expenditure in developing these sectors. Overall government spend in water supply and sewage sector is expected to be at around Rs. 2,600 billion within next 5 years out of which Rs. 105 billion is to be spent in the state of Tamil Nadu.
Annai Infra Developers’ Business Operations
It involve: (i) equipment procurement (ii) project management and (iii) construction and commissioning of the projects. More than a decade’s execution experience in Water EPC projects and form project specific joint ventures with other companies for certain projects. They also undertake construction projects on sub-contract basis from other infrastructure companies.
The total order booked as on September 30, 2018 stood at Rs. 6,520.86 million consisting of 19 projects, of which 13 are water management projects, 3 irrigation projects and 3 miscellaneous projects. Further in the period from October 1, 2018 to January 31, 2019, they have received new orders amounting to Rs. 4,640.60 million.
Between Fiscal 2014 to 2018, the Company has worked on 79 projects for contract value of Rs. 21,116.7 million, which included 50 projects in the water management and irrigation segment aggregating to total contract value of Rs. 18,018.42 million, 18 projects belonged to road segment for contract value of Rs. 2,037.75 million, 9 belonged to Building segment for contract value of Rs. 1,057.44 million and 2 for Electrical & Power segment of contract value Rs. 3.09 million.
Competitive Strengths of Annai Infra Developers Limited:
- Strong execution capabilities
- Revenue visibility with robust order book
- Established water and related infrastructure company in South India
- Efficient Business model
- Strong financial performance
- Experienced management.
Business strategies of Annai Infra Developers Limited:
- Expand the product portfolio
- Exploring new geographical area
- Leveraging the market skills and relationship
- Augment their working capital base in order to better utilize their installed capacities.
- Continuing innovation, technology upgrade and cost improvements
Annai Infra Developers Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & million) | ||||
| 30-Sep-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 3,413.51 | 3,249.43 | 2098.11 | 1014.53 |
| Total Revenue | 2,513.72 | 4,710.28 | 3134.45 | 2,521.97 |
| Total Expense | 2273.75 | 4246.86 | 2877.95 | 2374.38 |
| Profit After Tax | 162.86 | 300.65 | 164.76 | 98.75 |
Earnings per Equity Share (in million)
| 30-Sep-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 6.90 | 28.11 | 15.62 | 10.40 |
From the above statements, one could find that the Annai Infra Developers Limited may perform well.
Annai Infra Developers IPO – Promoters
The Promoters of this company are:
- Mr. Subramaniam Ashok Kumar
- Mrs. Duraisamy Kalaiselvi.
List of Related Parties (Key Managerial Personnel)
- Mr. Kizhanatham Sudarsan Sreekanth – Chief Financial Officer
- Mr. Sasikumar Gopal- Company Secretary and Compliance Officer
- Mr. Murugan Vishwanathan – Chief Administrative Officer
- Mr. V.R. Prawinkumar – Tender Head and Business Development
- Mr. Kumar R – Accounts and Finance
- Ms. Suganthi Velayduyam – Manager-Purchase
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Annai Infra Developers IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Upto 10,000,000 Equity Shares aggregating upto Rs [●] Million |
| Of which: | |
| Reserved for Market Makers | Upto [●]* Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs [●]/- per Equity Share aggregating Rs. [●] million |
| Employee Reservation Portion | Upto [●]* Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs [●]/- per Equity Share aggregating Rs. [●] million |
| Net Issue to the Public | Upto [●]* Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs. [●] million |
| Of which: | |
| QIB portion | [●] Equity Shares |
| Of which: | |
| Anchor Investor Portion | Upto [●] Equity Shares |
| Balance available for allocation to QIBs otherthan Anchor Investors (assuming AnchorInvestor Portion is fully subscribed) | [●] Equity Shares |
| Of which | |
| Available for allocation to Mutual Funds only(5% of the QIB Portion (excluding AnchorInvestor Portion) | [●] Equity Shares |
| Balance for all QIBs including Mutual Funds |
[●] Equity Shares |
| Retail Investors Portion | Upto [●]* Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs. [●] million will be available for allocation for allotment to Investors of up to Rs. 2.00 million |
| Non-Retail Investors Portion | Upto [●]* Equity Shares of face value of Rs. 10 /- each fully paid of the Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs. [●] million will be available for allocation to investors above Rs. 2.00 million |
| Equity Shares outstanding prior to the Issue | 2,35,49,500 Equity Shares |
| Equity Shares outstanding after the Issue | Upto [●] Equity Shares of face value of Rs. 10 each |
Annai Infra Developers IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital requirements of the Company:
- Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company
Annai Infra Developers IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Strong execution capabilities
- Revenue visibility with robust order book
- Established water and related infrastructure company in South India
- Efficient Business model
- Strong financial performance
- Experienced management.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-16 | 10.40 | 34.49 | – |
| 31-Mar-17 | 15.62 | 36.53 | – |
| 31-Mar-18 | 28.11 | 34.10 |
37.43 |
- Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
| Particulars | P/E ratio |
| Highest | 21.42 |
| Average | 21.23 |
| Lowest | 21.04 |
- Competitive Peers:
| Sr. No. | Particulars | Face Value (in Rs.) | Basic EPS (In Rs.) | Diluted EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Annai Infra Developers Limited |
10 | 28.11 | 28.11 | [●] | 31.40 | 37.43 |
| 2 | Indian Hume Pipe Company Limited |
2 | 13.64 | 13.64 | 21.42 | 14.58 | 93.52 |
| 3 | RPP Infra Projects Limited |
10 | 5.15 | 5.15 | 21.04 | 5.29 | 97.28 |
Annai Infra Developers IPO Lead Managers
| Lead Managers |
| PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED 406-408, Keshava Premises, Behind Family Court, Bandra Kurla Complex, Bandra East, Mumbai – 400 051, Maharashtra, India Tel: +91-22 6194 6700; Fax: +91-22 2659 8690 Website: www.pantomathgroup.com Email: ipo@pantomathgroup.com Investor Grievance Id: ipo@pantomathgroup.com Contact Person: Hardik Bhuta / Unmesh Zagade SEBI Registration No: INM000012110 |
Annai Infra Developers IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, Maharashtra, India Tel: +91 22 4918 6200; Fax: +91 22 4918 6195 Website: www.linkintime.co.in Email: gensol.ipo@linkintime.co.in Investor Grievance Id: gensol.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
Other Details:
- Statutory Auditor – M/s K.S. Aiyar & Co., Chartered Accountants
- Peer Review Auditor – M/s K.S. Aiyar & Co., Chartered Accountants
- Bankers to the Company – State Bank Of India, Axis Bank, HDFC Bank, Kotak Mahindra Bank, IDBI
Annai Infra Developers IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Annai Infra Developers IPO Grey Market Premium
The Annai Infra Developers IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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Annai Infra Developers IPO News
News 1 – IPO ISSUE OPENS SOON [Download Prospectus]
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