New Delhi, Sep 2: 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 early trading hours, hitting an intraday low of Rs 71.25.

The company’s initial public offering received bids for 5.18 crore shares against 1.76 crore shares on offer, resulting in an overall subscription of 2.93 times.

The IPO comprised an entirely fresh issue of up to 1.7683 crore equity shares with a face value of Rs 10 each, with no offer-for-sale component.

Moreover, the company showed several key risks in its IPO offer document like business concentration in telecom and sewerage segments, which together contributed 94 per cent of FY26 revenue, higher revenue dependence on government clients of up to 65 per cent in FY26, customer concentration in which top 10 customer contribution 98 per cent each in FY25 & FY26.

Annu Projects plans to use Rs 15.408 crore of the net proceeds to fund capital expenditure for the purchase of machinery and equipment, while Rs 115 crore will be used to meet working capital requirements. The remaining proceeds will be used for general corporate purposes.

The price band for the issue was fixed at Rs 94-99 per share with investors allowed to bid in lots of 151 shares.

The issue had reserved 10 per cent of the issue for qualified institutional buyers, 40 per cent for non-institutional investors and 50 per cent for retail investors.

Established in 2003, Annu Projects is engaged in the design, development, implementation, operations and maintenance of overhead and underground utilities infrastructure across telecom, sewerage, gas pipeline and railway signalling segments.

Mumbai/Thane, Sep 1: Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde on Tuesday hailed India as it registered a real GDP growth rate of 7.8 per cent in the first quarter of the 2026–27 financial year (Q1 FY27, April–June 2026) under the leadership of Prime Minister Narendra Modi reflecting the country’s progress.

Chief Minister Fadnavis in his post on social media platform X said, “Yehi hai right choice, Bharat! Let’s keep going the same way, same direction. 7.8 per cent growth in such times prove our potential and possibilities as a Nation with PM @narendramodi’s leadership! Congratulations Bharat!”

On the other hand, Deputy Chief Minister Eknath Shinde said that India’s economy continues to demonstrate strong growth with a 7.8 per cent GDP expansion at a time when several nations globally are grappling with conflict and economic fallout.

“This reflects economic progress and stability, this marks another key step toward achieving the vision of ‘Viksit Bharat 2047’,” The Deputy Chief Minister added.

Speaking to reporters on the country’s economic outlook, Deputy CM Shinde expressed confidence that under the leadership of Prime Minister Narendra Modi, India is moving steadily toward becoming an economic superpower and achieving its target of a $5 trillion economy.

He assured that the Maharashtra government will contribute significantly to this journey.

Highlighting the adverse global backdrop, the Deputy Chief Minister noted that ongoing wars and geopolitical conflicts have impacted multiple world economies.

“In contrast, India’s 7.8 per cent growth rate presents a highly promising picture and signals the nation’s rising economic strength.”

Deputy CM Shinde emphasised that every citizen should take pride in the nation’s strengthening economy.

However, he criticised the opposition parties for taking a negative stance on national progress due to political bias against PM Modi.

He remarked that appeals made by the Prime Minister are always aimed at national interest, upliftment, and growth, but are often viewed through a narrow political lens by his critics.

“Instead of questioning progress, everyone should contribute toward accelerating development,” Deputy Chief Minister Shinde added.

Reaffirming the state’s commitment, the Deputy CM said that Maharashtra will fully cooperate with the Central government to reach the $5 trillion target and realise the ‘Viksit Bharat 2047’ roadmap.

He asserted that India’s economic strides are a matter of pride for all 140 crore citizens, adding that the public will appropriately respond to those opposing the country’s growth.

New Delhi, Sep 1: Indian Railways has approved a proposal for the provision of modern Electronic Interlocking (EI) at 21 stations of Samastipur Division (Bihar) of East Central Railway with an investment of Rs 233 crore, according to an official statement issued on Tuesday.

The approved work involves the replacement of existing panel interlocking with electronic interlocking at these stations in Bihar. The electronic system will strengthen railway signalling infrastructure across the division and facilitate the implementation of Kavach, the indigenous Automatic Train Protection system, to enhance safety.

Electronic interlocking is a modern signalling technology that replaces ageing relay-based systems with computer-based interlocking, ensuring higher reliability, faster fault diagnosis, easier maintenance and enhanced operational flexibility.

The initiative is part of Indian Railways’ continued efforts towards modernisation of signalling systems, strengthening railway safety and enhancing operational efficiency across its network, the statement said.

Indian Railways has also sanctioned the Bhavnagar Para (BVP) Yard Remodelling project in Gujarat at a cost of around Rs 125 crore. The project will strengthen rail infrastructure in Bhavnagar by creating additional operational capacity at Bhavnagar Para and improving facilities for passengers.

The project will help decongest Bhavnagar Terminus by shifting stabling and other operational activities to Bhavnagar Para. This will enable smoother train operations, reduce rake detention and help improve punctuality. The additional infrastructure at Bhavnagar Para will facilitate better management of train movements and provide greater operational flexibility.

The remodelling work includes four loop lines, one engine reversal line, ART and ARME siding, relocation of the Station and EI building, one high-level passenger platform, widening of the existing platform, extension of the existing Foot Over Bridge (FOB) and construction of one new FOB. The project will also include two Road Under Bridges (RUBs), including one new RUB and extension of an existing RUB, along with service buildings and associated electrical and signalling works.

Passenger convenience will be enhanced through a new high-level island platform, widening of Platform No. 2 and improved FOB connectivity at Bhavnagar Para station. These facilities will provide easier movement and access for passengers, the statement added.