The Rs 351.03-crore initial public offering (IPO) of Pranav Constructions Ltd. entered its second day of bidding on Tuesday, Sept. 8, after witnessing robust demand from investors on the opening day.
On Day 1, the public issue was subscribed 5.7 times, driven by strong interest from Non-Institutional Investors (NIIs) and retail participants.
As bidding for the mainboard IPO enters Day 2, the latest grey market premium indicates a potential listing gain of 34.27% over the upper price band.
Pranav Constructions IPO GMP Today
As of 8:30 a.m. on Sept. 8, the Grey Market Premium (GMP) for Pranav Constructions IPO stood at Rs 42.50.
With the upper price band set at Rs 124, the estimated listing price is Rs 166.50 (cap price + GMP), indicating a potential listing gain of 34.27%.
Note: Grey market premiums are unofficial indicators and do not guarantee the actual listing price or listing gains.
ALSO READ: Pranav Constructions IPO Day 2: Issue Subscribed 5.70x On Day 1; Should You Subscribe?
Pranav Constructions IPO: Issue Size, Price Band, Lot Size, RHP, Subscription Status
- Day 1 Subscription: The issue was subscribed 5.7 times on Monday, Sept. 7.
- QIBs: 0.87
- NIIs: 10.61
- RIIs: 5.77
- Fresh Issue: 2.55 crore shares aggregating to Rs 315.60 crore
- Offer for Sale: 28.57 lakh shares aggregating to Rs 35.43 crore
- Price Band: Rs 118 to Rs 124 per equity share.
- Lot Size: 120 shares (Minimum retail investment: Rs 14,880 at the upper price band).
- Lead Manager & Registrar: Centrum Capital Ltd. is the book running lead manager, and KFin Technologies Ltd. is the registrar to the issue.
- Red Herring Prospectus: Pranav Constructions RHP
- Redevelopment Approvals & FSI Costs (Rs 145.72 crore): Funding statutory approvals, purchasing additional FSI, member alternate accommodation compensation, and hardship compensation across under-construction and upcoming projects.
- Debt Repayment (Rs 91.50 crore): Full or partial repayment/pre-payment of certain existing borrowings.
- Growth & General Purposes: Funding future redevelopment acquisitions and general corporate purposes.
- Total Income: Rs 763.93 crore vs Rs 638.24 crore (Up 19.7%)
- EBITDA: Rs 130.83 crore vs Rs 98.54 crore (Up 32.8%)
- Profit After Tax (PAT): Rs 71.32 crore vs Rs 62.25 crore (Up 14.6%)
Pranav Constructions IPO Key Dates
| Event | Date |
| Bidding Window Opens | Sept. 7, 2026 |
| Bidding Window Closes | Sept. 9, 2026 |
| Allotment Finalisation | Sept. 10, 2026 |
| Refund Initiation | Sept. 11, 2026 |
| Credit of Shares to Demat | Sept. 11, 2026 |
| Tentative Listing Date | Sept. 15, 2026 |
Use Of Proceeds
The net proceeds from the fresh issue will be utilized toward:
Company Financials: FY2026 vs FY2025
About Pranav Constructions Ltd.
Incorporated in July 2003 as Pranav Constructions Pvt. Ltd., the company transitioned to a public limited entity in July 2024. It is a Mumbai-focused real estate developer specialising in pure-play redevelopment projects within the Municipal Corporation of Greater Mumbai (MCGM) region, particularly across the Western Suburbs, spanning Economical, Mid and Mass, and Aspirational residential segments.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult certified financial advisors and thoroughly review the Red Herring Prospectus (RHP) before placing bids.
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