Pranav Constructions IPO: Dates, Price Band & Details
By ThePip Desk
Pranav Constructions launches IPO to raise Rs 367 crore. Subscription open from Sept 7-9, 2026. Check price band, lot size, and key details.
IPO Details and Timeline
Pranav Constructions has announced its upcoming initial public offering, aiming to raise up to Rs 367 crore. The company is issuing 2,96,02,631 shares with a face value of Rs 10 each.
- Subscription Dates: September 07, 2026 to September 09, 2026.
- Price Band: Rs 118-124 per equity share.
- Listing: Shares will trade on both the BSE and NSE.
- Face Value Multiplier: 11.80 times on the lower end and 12.40 times on the higher end.
Allocation and Management
The issue structure designates specific portions for different investor classes. Compliance for the offering is managed by Ritu Jain.
- Qualified Institutional Buyers: Not more than 40% (including 5% for mutual funds).
- Non-institutional Bidders: Not less than 15%.
- Retail Investors: 45%.
- Lead Managers: Centrum Broking and PNB Investment Services.
Company Background and Use of Funds
Operating primarily in Mumbai, Pranav Constructions focuses on redevelopment projects within the Western Suburbs. The company ranks in the top 5 among developers in the Municipal Corporation of Greater Mumbai region across project phases.
- Market Position: Ranked 1st in the MCGM region for highest combined supply in redevelopment projects launched between CY21 and Q1 CY26.
- Business Model: Integrated redevelopment model involving in-house execution from the tendering stage through to post-construction.
- Proceed Usage: Funds will cover government and statutory approval costs, additional FSI purchases, and member compensation for alternate accommodation and hardship.
The company plans to use the capital to sustain its capital-efficient business model, which relies on agreements with Co-operative Housing Societies. These funds are intended to support the ongoing development of its current project portfolio.