Pranav Constructions IPO: Overview
Pranav Constructions Limited, a Mumbai-focused real estate redevelopment company, opened its ₹351.03 crore mainboard IPO on September 7, 2026. The issue closes on September 9, 2026, with listing on both BSE and NSE expected on September 15, 2026.
The issue combines a fresh issue of ~₹316 crores with an offer for sale of up to 28,56,869 equity shares by existing shareholders.
Pranav Constructions IPO: Key Dates
|
Event |
Date |
|
Anchor Bidding Date |
September 4, 2026 |
|
IPO Open Date |
September 7, 2026 |
|
IPO Close Date |
September 9, 2026 |
|
Basis of Allotment |
September 10, 2026 |
|
Refunds Initiated |
September 11, 2026 |
|
Credit to Demat Account |
September 11, 2026 |
|
Listing Date (BSE, NSE) |
September 15, 2026 |
Pranav Constructions IPO: Issue Details
|
Particular |
Detail |
|
Face Value |
₹10 per equity share |
|
Price Band |
₹118 to ₹124 per share |
|
Total Issue Size |
~₹351.03 crores |
|
Fresh Issue |
~₹316 crores |
|
Offer for Sale |
Up to 28,56,869 equity shares |
|
Issue Type |
Book Building Issue |
|
Listing |
BSE, NSE |
Worth flagging upfront: reservation here skews notably toward retail — 45% for retail, 40% for QIB, and 15% for NII/HNI — a meaningfully higher retail allocation than the standard 35% seen in most mainboard IPOs.
Pranav Constructions IPO: Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Minimum) |
1 |
120 |
₹14,880 |
|
Retail (Maximum) |
13 |
1,560 |
₹1,93,440 |
|
S-HNI (Minimum) |
14 |
1,680 |
₹2,08,320 |
|
S-HNI (Maximum) |
67 |
8,040 |
₹9,96,960 |
|
B-HNI (Minimum) |
68 |
8,160 |
₹10,11,840 |
About Pranav Constructions
Founded in July 2003, Pranav Constructions is a real estate firm focused specifically on the redevelopment of old buildings and properties in Mumbai, rather than new construction on undeveloped land. The company handles redevelopment across economical, mid/mass, and aspirational housing segments, and typically manages the entire redevelopment lifecycle in-house — from tendering and pre-construction through construction and post-construction activities.
As of March 2026, the company had 65 redevelopment projects across Mumbai's MCGM area — 28 completed, 20 under construction, and 17 upcoming — giving a reasonably clear pipeline view for prospective investors evaluating future revenue visibility.
Objects of the Issue
|
Purpose |
Amount |
|
Funding redevelopment expenses — statutory approvals, additional FSI purchase, member compensation for alternate accommodation and hardship, across under-construction and upcoming projects |
₹145.72 crores |
|
Repayment/prepayment of certain borrowings |
₹91.50 crores |
|
Funding acquisition of future redevelopment projects and general corporate purposes |
Balance amount |
Financial Performance
|
Period |
Revenue |
Expense |
PAT |
Assets |
|
FY2024 |
₹449.75 Cr |
₹410.65 Cr |
₹39.62 Cr |
₹966.80 Cr |
|
FY2025 |
₹638.24 Cr |
₹566.16 Cr |
₹62.25 Cr |
₹1,246.29 Cr |
|
FY2026 |
₹763.93 Cr |
₹669.99 Cr |
₹71.32 Cr |
₹1,799.19 Cr |
Both revenue and profit have grown consistently across all three years, with revenue up roughly 70% and PAT up roughly 80% from FY24 to FY26 — a steady growth trajectory aligned with the company's expanding redevelopment project pipeline.
Key Valuation Metrics (FY2026)
|
KPI |
Value |
|
ROE |
33.78% |
|
ROCE |
24.34% |
|
EBITDA Margin |
17.18% |
|
PAT Margin |
9.37% |
|
Debt to Equity Ratio |
1.08 |
|
Basic EPS |
₹8.18 |
|
RoNW |
33.78% |
|
Net Asset Value (NAV) |
₹28.30 |
The debt-to-equity ratio of 1.08 is worth keeping in view alongside the ₹91.50 crore earmarked for debt repayment — a meaningful, though not complete, deleveraging step from this raise.
How To Apply for the IPO ?
- Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of the IPO?
Steps to check IPO allotment status on JM Pro app:
- Log in to the JM Pro app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
JM Financial Services will notify you of your IPO allotment status via push notification and email
Frequently Asked Questions
The price band is set at ₹118 to ₹124 per equity share.
The IPO opens on September 7, 2026, and closes on September 9, 2026.
The minimum lot is 120 shares, requiring an application amount of ₹14,880 at the upper price band.
Retail investors are allocated 45% of the issue — notably higher than the 35% typical of most mainboard IPOs — with QIB getting 40% and NII 15%.
The total issue size is approximately ₹351.03 crores, comprising a fresh issue of ~₹316 crores and an offer for sale of up to 28,56,869 equity shares.
Pranav Constructions specialises in the redevelopment of old residential buildings in Mumbai, managing the full redevelopment lifecycle from statutory approvals through construction and handover, across economical, mid-market, and aspirational housing segments.
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