Pranav Constructions Ltd.'s initial public offering opened for bidding on Sept. 7, Monday. The issue was oversubscribed by 1.85 times within less than 2 hours of the window opening, according to cumulative demand data on BSE.
The IPO is a book build issue of Rs 351.03 crore. It is a combination of fresh issue of 2.55 crore shares aggregating to Rs 315.60 crores and offer for sale of 28.57 lakh shares aggregating to Rs 35.43 crore.
Price band for the IPO has been fixed between Rs 118 and Rs 124 per share. The lot size for an application is 120 shares. The minimum amount of investment required by an individual retail investor retail is Rs 14,880 (120 shares), according to the upper price band.
Centrum Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The shares are will likely list on NSE and BSE on Sept. 15 while the allotment will be finalised on Sep 10, 2026.
ALSO READ: IPO Rush: 12 Mainboard IPOs To Raise Around Rs 7,180 Crore This Week: Check Full List
Subscription Status
The Pranav Constructions IPO was oversubscribed 2 times as 10:30 a.m. on Monday.
Qualified Institutional Buyers (QIBs): Nil
Non-Institutional Investors (NIIS): 3.20 times
Retail Individual Investors: 2.30 times
ALSO READ: Purple Style Labs Shares List At 7% Discount In A Weak Debut On NSE After IPO
Pranav Constructions IPO GMP
The IPO's latest grey market premium rose to Rs 44 as of 10:55 a.m. on Monday, according to Investorgain website. The GMP indicates a listing price of Rs 168 apiece, which means upon listing,Pranav Constructions may offer 35.48% additional gains to investors.
Note: GMP does not represent official data and is based on speculation.
ALSO READ: Pranav Constructions IPO GMP: What Grey Market Suggests As Issue Opens For Subscription
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
