Real estate developer Pranav Constructions is now open for subscription. The three-day subscription window will close on September 9, 2026. Ahead of the issue, the Mumbai-based company raised Rs 84.2 crore from nine anchor investors. Goldman Sachs Investments (Mauritius) Ltd, Abudantia Capital VCC, ITI Mutual Fund, Taurus Mutual Fund and Ashika India Select Fund were among the investors participating in the anchor round. According to a circular uploaded on the BSE website, the construction firm allocated 67.94 lakh equity shares at Rs 124 apiece to anchor investors.
The IPO lot size is 120 equity shares, so investors can place bids in multiples of 120 shares.
Pranav Constructions IPO price band
The Rs 351 crore public issue of Pranav Constructions has been fixed at a price band of Rs 118-124 per share.
Pranav Constructions IPO GMP today
According to Investorgain, Pranav Constructions’ unlisted shares are trading at a grey market premium (GMP) of Rs 44. Considering the upper price band of Rs 124, the company’s shares are expected to list at around Rs 168, reflecting a grey market premium of 35.48 per cent. However, this is just an indicative price and should never be taken as a guaranteed listing price for an IPO.
The IPO comprises 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.
What does the company do?
Pranav Constructions is a real estate developer focused on the Municipal Corporation of Greater Mumbai redevelopment segment in Mumbai’s western suburbs.
Pranav Constructions IPO Listing Date
The process of allotment of shares is expected to be finalised on September 10, 2026, and the equity shares are proposed to be listed on both the BSE and NSE on August 15, 2026.
IPO action intensifies
The primary market is poised for another action-packed week, with 11 main-board companies, including Rentomojo, Karamtara Engineering and Kanohar Electricals, set to raise Rs 7,055 crore through initial public offerings (IPOs). The public issues are scheduled to hit the market between September 7 and September 15. Most of these IPOs are opening for subscription on Tuesday and Wednesday.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
