Pranav Constructions IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Retail)
₹14,880
1 lot · 120 shares at the upper price band
Price band
₹124
Latest GMP
₹47
+37.9% of the ₹124 upper band
Est. listing price
₹174
Issue size
₹351.03 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 11 Sept 2026, 5:03 pm | ₹47 | ₹174 |
| 11 Sept 2026, 5:01 pm | ₹50 | ₹174 |
| 11 Sept 2026, 12:50 pm | ₹47 | ₹174 |
| 11 Sept 2026, 12:49 pm | ₹50 | ₹174 |
| 11 Sept 2026, 8:05 am | ₹47 | ₹174 |
| 11 Sept 2026, 8:03 am | ₹50 | ₹174 |
| 11 Sept 2026, 7:00 am | ₹47 | ₹174 |
| 11 Sept 2026, 6:55 am | ₹50 | ₹174 |
| 11 Sept 2026, 6:50 am | ₹50 | ₹174 |
| 11 Sept 2026, 6:28 am | ₹50 | ₹174 |
| 10 Sept 2026, 6:17 pm | ₹44 | ₹164 |
| 10 Sept 2026, 5:37 pm | ₹42 | ₹164 |
| 10 Sept 2026, 5:30 pm | ₹40 | ₹164 |
| 10 Sept 2026, 5:00 pm | ₹40 | ₹164 |
| 10 Sept 2026, 4:59 pm | ₹40 | ₹164 |
| 10 Sept 2026, 12:56 pm | ₹42 | ₹164 |
| 10 Sept 2026, 12:55 pm | ₹40 | ₹164 |
| 10 Sept 2026, 11:20 am | ₹45 | ₹164 |
| 10 Sept 2026, 8:08 am | ₹40 | ₹164 |
| 10 Sept 2026, 6:13 am | ₹40 | ₹164 |
| 10 Sept 2026, 6:10 am | ₹40 | ₹164 |
| 10 Sept 2026, 6:09 am | ₹40 | ₹164 |
| 9 Sept 2026, 5:09 pm | ₹44 | ₹168 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹124
- Issue size
- ₹351.03 Cr
- Lot size
- 120
- Opens
- 7 Sept 2026
- Closes
- 9 Sept 2026
- Allotment
- 10 Sept 2026
- Listing
- 15 Sept 2026
- Est. listing price
- ₹174
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Kfin Technologies Ltd.
- Minimum investment
- ₹14,880 (1 lot · 120 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Fresh issue
- ₹316 Cr
- Offer for sale
- ₹35 Cr
- Listing at
- BSE, NSE
- Refunds
- 11 Sept 2026
- Shares credited
- 11 Sept 2026
- Promoter holding
- 63.35% before · 49.03% after
- Lead managers
- Centrum Capital Ltd., PNB Investment Services Ltd.
Offer documents & links
Subscription by category
As of 9 Sept 2026, 1:22 pm.
Total subscription
126.34x
Full issue details
Details as published for this issue, read 11 Sept 2026, 5:10 pm. Verify against the RHP before applying.
IPO Details
| IPO Date | 7 to 9 Sep, 2026 |
|---|---|
| Listing Date | Tue, Sep 15, 2026 |
| Face Value | ₹ 10 per share |
| Price Band | ₹118 to ₹124 |
| Issue Price | ₹124 per share |
| Lot Size | 120 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,83,08,481 shares (agg. up to ₹ 351 Cr) |
|---|---|
| Fresh Issue | 2,54,51,612 shares (agg. up to ₹ 316 Cr) |
| Offer for Sale | 28,56,869 shares of ₹ 10 (agg. up to ₹ 35 Cr) |
| Share Holding Pre Issue | 8,71,71,170 shares |
| Share Holding Post Issue | 11,26,22,782 shares |
| BSE Script Code / NSE Symbol | 544909 / PRANAV |
| ISIN | INE0H4201019 |
IPO Timetable
- IPO Open
- Mon, Sep 7, 2026
- IPO Close
- Wed, Sep 9, 2026
- Allotment
- Thu, Sep 10, 2026
- Refund
- Fri, Sep 11, 2026
- Credit of Shares
- Fri, Sep 11, 2026
- Listing
- Tue, Sep 15, 2026
Issue Reservation
| Investor Category | Shares | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB | 1,13,23,392 | 40.00% | NA |
| - Anchor Investor | 67,94,034 | 24.00% | NA |
| - QIB (Ex. Anchor) | 45,29,358 | 16.00% | NA |
| NII (HNI) | 42,46,272 | 15.00% | NA |
| - bNII > ₹10L | 28,30,848 | 10.00% | 1,685 |
| - sNII < ₹10L | 14,15,424 | 5.00% | 842 |
| Retail | 1,27,38,816 | 45.00% | 1,06,156 |
| Total | 2,83,08,480 | 100.00% | — |
Pranav Constructions IPO comprises a total issue size of 2,83,08,480 shares. Out of which, 1,13,23,392 (40.00%) are allocated to QIB , 42,46,272 (15.00%) allocated to NII 1,27,38,816 (45.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,880 |
| Retail (Max) | 13 | 1560 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1680 | ₹2,08,320 |
| S-HNI (Max) | 67 | 8040 | ₹9,96,960 |
| B-HNI (Min) | 68 | 8160 | ₹10,11,840 |
Investors can bid for a minimum of 120 shares and in multiples thereof.
IPO Subscription Details
IPO Anchor Investors
| Bid Date | Fri, Sep 4, 2026 |
|---|---|
| Shares Offered | 67,94,034 |
| Anchor Portion (₹ Cr.) | 84.25 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 10, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 9, 2026 |
Pranav Constructions IPO raises ₹ 84.25 crore from anchor investors . Pranav Constructions IPO Anchor bid date is September 4, 2026 .
📝 Anchor Investors Letter (PDF)
IPO Anchor Investors List
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 specializes in pure-play redevelopment and undertakes redevelopment projects across residential segments, including Economical, Mid and Mass, and Aspirational homes. As of March 31, 2026, its portfolio comprised 65 redevelopment projects across the MCGM Region, including 28 completed projects, 20 under-construction projects and 17 upcoming projects, with a combined Total Developable Area of approximately 5.01 million square feet.
The Company follows an integrated redevelopment model with in-house capabilities across various stages of project execution, including tendering, pre-construction, construction and post-construction activities. Its business model involves entering into redevelopment agreements with co-operative housing societies, supporting a capital-efficient approach to project development.
Pranav Constructions has been undertaking redevelopment projects since 2012 and has established a presence in Mumbai's Western Suburbs.
As of March 31, 2026, the Company had 198 permanent employees, including whole-time directors, across functions such as construction management, sales and customer relationship management, architecture, legal and compliance, finance, administration and human resources.
Competitive Strengths
Track record of consistent financial performance.
Capital-efficient business model with high barriers to entry.
Established customer-centric brand with strong stakeholder management.
Demonstrated project execution capabilities supported by in-house functional expertise.
Experienced Promoters and professional senior management with corporate governance practices.
Among the leading real estate companies in Mumbai's Western Suburbs with a demonstrated growth and strong project pipeline.
Company Financials (Restated Consolidated)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,799.19 | 1,246.29 | 966.80 |
| Total Income | 763.93 | 638.24 | 449.75 |
| Profit After Tax | 71.32 | 62.25 | 39.62 |
| EBITDA | 130.83 | 98.54 | 59.73 |
| NET Worth | 246.70 | 175.59 | 88.37 |
| Reserves and Surplus | 159.52 | 88.41 | 84.70 |
| Total Borrowing | 258.44 | 196.50 | 99.34 |
| Amount in ₹ Crore |
Pranav Constructions Ltd.'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.
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IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | 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 (Funding Redevelopment Expenses | 145.72 |
| 2 | Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company | 91.50 |
| 3 | Funding acquisition of future redevelopment projects and general corporate purposes. | 42.57 |
| 4 | Issue Expenses | 40.31 |
| Total | 320.10 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 33.78% | 47.17% |
| ROCE | 24.34% | 24.83% |
| Debt/Equity | 1.08 | 1.15 |
| RoNW | 33.78% | 47.17% |
| PAT Margin | 9.37% | 9.78% |
| EBITDA Margin | 17.18% | 15.49% |
| NAV | 28.30 | — |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 8.18 | 6.33 |
| P/E (x) | 15.16 | 19.59 |
| Market Cap at Offer Price | ₹1,080.92 Cr. | ₹1,396.52 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 63.35% | 49.03% |
| Public | 36.65% | 50.97% |
| Total | 100% | 100% |
Company Promoters: Pranav Kiran Ashar and Ravi Ramalingam.
Offer For Sale - Selling Shareholder
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|---|---|---|
| BioUrja India Infra Pvt.Ltd. | Corporate | 28,56,869 | 35.43 |
| Total | — | 28,56,869 | 35.43 |
Pranav Constructions IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 2 | 0 | 1 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 268.54 | 45,29,358 | 1,21,63,22,400 |
| NII | 217.73 | 42,46,272 | 92,45,49,840 |
| bNII (> ₹10L) | 242.06 | 28,30,848 | 68,52,46,320 |
| sNII (< ₹10L) | 169.07 | 14,15,424 | 23,93,03,520 |
| Retail | 45.31 | 1,27,38,816 | 57,71,73,840 |
| Total | 126.34 | 2,15,14,446 | 2,71,80,46,080 |
The Pranav Constructions IPO is subscribed 126.34 times on September 9, 2026 6:52:51 PM (Day 3). The public issue subscribed 45.31 times in the retail category, 268.54 times in the QIB category, and 217.73 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 44,83,673
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission, as applicable | 14.53 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer and fee payable to the Sponsor Banks for Bids made by RIBs. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.41 |
| 3 | Fees payable to Registrar to the Offer | 0.46 |
| 4 | Advertising and marketing expenses | 3.49 |
| 5 | Fee payable to auditors, consultants and market research firms | 4.18 |
| 6 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 7.01 |
| 7 | Printing and distribution of stationery | 0.51 |
| 8 | Fees payable to legal counsel | 6.23 |
| 9 | Miscellaneous | 2.48 |
| Total | 40.31 |
IPO Registrar
Kfin Technologies Ltd.
040-79615565
pcpl.ipo@kfintech.com
IPO Lead Manager(s)
Centrum Capital Ltd.
PNB Investment Services Ltd.
Contact Details
Pranav Constructions Ltd. Address
Unit No. 1001, 10th Floor, DLH Park
Near MTNL, S.V. Road
Goregaon (West)
Mumbai, Maharashtra , 400104
+91 22 6276 9939
compliance.officer@pranavconstructions.com
Pranav Constructions IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Pranav Constructions IPO Allotment Status: Check Allocation Online
HDFC Sky · 11 Sept 2026
Pranav Constructions IPO Allotment Today! Direct Link To Check Your Status
IPO Central · 10 Sept 2026
Pranav Constructions IPO Allotment Status: Check Allotment Online
HDFC Sky · 10 Sept 2026
Pranav Constructions IPO ends with 121 times subscription
Business Standard · 10 Sept 2026
Pranav Constructions IPO allotment today: GMP at 32%; check status on BSE, NSE and registrar
Moneycontrol.com · 10 Sept 2026
Pranav Constructions IPO allotment to be finalised today; GMP hints 32% listing gain | 4 steps to check status
Livemint · 10 Sept 2026
Pranav Constructions IPO allotment likely today: GMP signals 32% listing gain. Here’s how to check status
inkl · 10 Sept 2026
Pranav Constructions IPO allotment likely today: GMP signals 32% listing gain. Here’s how to check status
economictimes.com · 10 Sept 2026
