Pranav Constructions' Rs 351.03-crore IPO opens for subscription on Sept. 7, with the latest grey market premium indicating a potential listing gain of over 35% over the upper price band.
Note: Grey market premiums are unofficial indicators and do not guarantee the actual listing price or listing gains.
Investors considering the Pranav Constructions IPO should keep these key details in mind before subscribing.
Pranav Constructions IPO GMP Today
The latest GMP for Pranav Constructions IPO stood at Rs 44 as of 8:00 a.m. on Sept. 7. With the upper price band of Rs 124, the IPO's estimated listing price is Rs 168 (cap price + GMP). This implies a potential listing gain of 35.48% over the upper price band.
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Pranav Constructions IPO: Key Details
The IPO of Pranav Constructions is a book build issue of Rs 351.03 crore. The issue comprises fresh issue of 2.55 crore shares aggregating to Rs 315.60 crore and offer for sale of 28.57 lakh shares aggregating to Rs 35.43 crore.
The price band for the IPO is set between Rs 118 and Rs 124 per share.
To participate in the IPO, retail investors must bid for at least a single lot of 120 shares. Retail investors must invest a minimum of Rs 14,880, based on the upper price band.
Centrum Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
For more details on the IPO, check the red herring prospectus here: Pranav Constructions RHP.
Pranav Constructions IPO Key Dates:
Bidding window opens: Sept. 7
Bidding window closes: Sept. 9
Allotment finalisation: Sept. 10
Refund initiation: Sept. 11
Credit of Shares to Demat accounts: Sept. 11
Listing date: Sept. 15
Use Of Proceeds
The company will use the net proceeds for funding costs towards obtaining government and statutory approvals and purchase of additional FSI and cost towards compensation to members towards alternate accommodation, and hardship compensation, in relation to the development of certain of the under-construction redevelopment projects, and certain of the upcoming redevelopment projects (Rs 145.72 crore).
The remaining funds will be used for the repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company (Rs 91.50 crore), funding acquisition of future redevelopment projects and general corporate purposes.
Company Financials
The company's revenue increased by 20% and profit after tax (PAT) rose by 15% between the financial year ending with March 31, 2026 and March 31, 2025.
For FY26, Pranav Constructions reported:
- Total income: Rs 763.93 crore vs Rs 638.24 crore, up 19.7%
- PAT: Rs 71.32 crore vs Rs 62.25 crore, up 14.6%
- EBITDA: Rs 130.83 crore vs Rs 98.54 crore, up 32.8%
Also Read: NSE IPO Gets Much-Awaited Approval From SEBI
About Pranav Constructions Ltd.
Incorporated in July 2003, Pranav Constructions Limited is a real estate company primarily engaged in redevelopment projects in the Municipal Corporation of Greater Mumbai (MCGM) Region, with a predominant focus on the Western Suburbs. The Company was originally incorporated as Pranav Constructions Private Limited and was converted into a public limited company in July 2024.
The Company specialises in pure-play redevelopment and undertakes redevelopment projects across residential segments, including Economical, Mid and Mass, and Aspirational homes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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