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IPO ·
NSE, BSE
Pranav Constructions Ltd
Listed
Mumbai real estate developer focused on housing redevelopment projects in the western suburbs.
Issue details
Price band
₹118 – ₹124
Face value
₹10
Lot size
120 shares
Minimum investment
₹14,880
Issue size
₹351.03 Cr
Fresh issue
₹315.60 Cr
Offer for sale
₹35.43 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
7 Sep 2026
Closes
9 Sep 2026
UPI mandate cut-off
5:00 PM on 9 Sep 2026
Allotment
10 Sep 2026
Refunds
11 Sep 2026
Shares in demat
11 Sep 2026
Listing
15 Sep 2026
Subscription and listing
Subscription
95.39x
Listing price
₹165
Registrar
KFin Technologies Ltd
Lead manager
Centrum Capital, PNB Investment Services
Subscription by category
Total
95.39x
Total applications
43,40,015
Anchor investors
Amount raised
₹84.25 Cr
Bid date
4 Sep 2026
50% lock-in ends
10 Oct 2026
Rest lock-in ends
9 Dec 2026
Listing day
Issue price
₹124
Open
₹165.00
High
₹165.10
Low
₹132.00
Day close
₹132.00
Listing gain at open
+33.06%
Issue structure
Shares reserved per category and share of the total issue
QIB
1,13,23,391
40.00%
Anchor Investor
67,94,034
24.00%
QIB (Ex. Anchor)
45,29,357
16.00%
NII
42,46,273
15.00%
bNII > ₹10L
28,30,849
10.00%
sNII < ₹10L
14,15,424
5.00%
Retail
1,27,38,817
45.00%
Total
2,83,08,481
100.00%
Finaccle’s quick read
Apply for long term
Income up 20% and PAT up 15% in FY26 with ROE of 33.8% and post-issue P/E of 19.6x on a mostly fresh issue, but debt/equity of 1.08 and lumpy real estate earnings temper it.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Pranav Constructions, incorporated in 2003, is a Mumbai real estate developer that focuses only on redevelopment of old housing societies in the MCGM area, mostly in the Western Suburbs. It builds economical, mid-market and aspirational homes and has done redevelopment since 2012. As of March 2026 it had 65 projects (28 completed, 20 under construction, 17 upcoming) totalling about 5.01 million sq ft, with FY26 income of about ₹764 Cr.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
33.78%
ROCE
24.34%
Debt / equity
1.08
PAT margin
9.37%
P/E post issue
19.59
Market cap
₹1,396.52 Cr
Use of IPO money
Funding redevelopment expenses
₹145.72 Cr
Repayment/prepayment of borrowings
₹91.50 Cr
Acquisition of future projects and general corporate purposes
₹42.57 Cr
Issue expenses
₹40.31 Cr
Strengths
✓
Focused redevelopment model needs less land capital
✓
Large pipeline of 65 projects in Mumbai suburbs
✓
Mostly fresh issue, about 90% of size
✓
ROE of 33.8% with post-issue P/E of 19.6x
Risks to watch
!
Debt/equity of 1.08 with borrowings rising
!
Single-city concentration in Mumbai
!
Real estate revenue recognition is lumpy
!
ROE fell from 47% to 34% in FY26
!
Promoter holding below 50% post-issue
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.