Pranav Constructions IPO subscribed 5.69 times
The issue opened for bidding on 7 September 2026 and will close on 9 September 2026. The price band of the IPO is fixed between Rs 118 and 124 per share. An investor can bid for a minimum of 120 equity shares and multiples thereof.
The offer comprises a fresh issue of equity shares of Rs 10 each aggregating to Rs 316 crore and an offer for sale of 2856869 equity shares by BioUrja India Infra, an investor selling shareholder.
Of the net proceeds from the fresh issue, the company intends to use Rs 145.718 crore towards funding costs for obtaining government and statutory approvals, purchasing additional FSI as per applicable laws, and providing compensation to members towards alternate accommodation and hardship compensation in relation to certain under-construction and upcoming redevelopment projects; Rs 91.5 crore towards the prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the company; and the balance towards general corporate purposes.
Pranav Constructions is a Mumbai-focused real estate developer specializing in pure-play redevelopment projects, primarily in the western suburbs of the MCGM region. The company operates across economical, mid and mass, and aspirational housing segments under the PCPL brand. As of March 2026, it had 65 redevelopment projects across the MCGM region, including completed, under-construction and upcoming projects.
Ahead of the IPO, Pranav Constructions on Friday, 04 August 2026, raised Rs 84.24 crore from anchor investors. The board allotted 67.94 lakh shares at Rs 124 each to 14 anchor investors.
The firm reported a consolidated net profit of Rs 71.32 crore and sales of Rs 761.60 crore for the twelve months ended on 31 March 2026.
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