Shares of real estate developer Pranav Constructions Ltd made a strong debut on the bourses today, i.e., on September 15, 2026, listing at Rs 165 on the National Stock Exchange (NSE), a 33.06 per cent premium to the IPO price of Rs 124 per share. On the BSE, the stock debuted at Rs 162, up 30.65 per cent from the issue price. Earlier, the public issue received 121 times subscription on the last day of bidding on Wednesday. According to data available on the National Stock Exchange (NSE), the Rs 351-crore IPO received bids for 2,71,80,46,080 shares against 2,24,63,137 shares on offer. The non-institutional investor category was subscribed 208.21 times. The qualified institutional buyer (QIB) portion received 258.71 times subscription, and the retail investor quota was subscribed 43.33 times. The price band for the public issue was fixed at Rs 118-124 per share.
The issue was subscribed on the first day of the bidding and received 5.69 times subscription.
Pranav Constructions IPO GMP ahead of listing
Ahead of the listing, Dhoot Transmission’s unlisted shares were trading at a grey market premium (GMP) of Rs 53. With an upper price band of Rs 124, the GMP suggested a listing around Rs 177, reflecting a 42.74 per cent grey market premium.
The IPO comprised a fresh issue worth Rs 315.6 crore and an offer-for-sale (OFS) of 28.5 lakh equity shares worth Rs 35.43 crore by investor shareholder BioUrja India Infra.
Raised Rs 84 crore from anchor investors
Ahead of the IPO, the company raised Rs 84.24 crore from anchor investors. According to a circular uploaded on the BSE website, the company allocated 67.94 lakh equity shares at Rs 124 apiece to anchor investors.
Goldman Sachs Investments (Mauritius) Ltd, ITI Mutual Fund, Taurus Mutual Fund, Abudantia Capital VCC and Ashika India Select Fund were among the investors who participated in the anchor round.
Pranav Constructions is a real estate developer focused on the Municipal Corporation of Greater Mumbai redevelopment segment in Mumbai’s western suburbs.
