Pranav Constructions IPO opened for bidding on Sept. 7, Monday. The IPO was oversubscribed by 5.7 times by the end of the first day, according to cumulative demand data on BSE. Pranav Constructions IPO has entered its second round of bidding on Tuesday.
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.
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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.
Pranav Constructions IPO Subscription Status
The Pranav Constructions IPO was oversubscribed 5.7 as 5 p.m. on Monday.
Qualified Institutional Buyers (QIBs): 0.87 times
Non-Institutional Investors (NIIS): 10.61 times
Retail Individual Investors: 5.77 times
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Pranav Constructions IPO GMP
The IPO's latest grey market premium for Pranav Constructions IPO stood at Rs 42.5 as of 8:54 a.m. on Tuesday, according to Investorgain website.
The GMP indicates a listing price of Rs 166.5 apiece, which means upon listing,Pranav Constructions may offer 34.27% additional gains to investors when compared with the upper end of the issue price band.
Note: GMP does not represent official data and is based on speculation.
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