Pranav Constructions Limited is set to launch its mainboard IPO next week, having already raised ₹84.24 crore from anchor investors on Friday. The real estate firm, which focuses on redevelopment projects in Greater Mumbai, has fixed a price band of ₹118 to ₹124 per share for the public issue.
IPO Size and Price Details
The IPO carries a total size of ₹351.03 crore. The company will issue 2.55 crore fresh shares while existing shareholders sell 28.57 lakh shares through an Offer for Sale component. Each lot contains 120 shares, requiring a minimum investment of ₹14,880 for retail investors.
Strong Grey Market Premium
The IPO is trading at a premium of ₹37 in the grey market, signaling potential listing gains of about 30 percent. This strong GMP indicates healthy investor sentiment towards the construction and real estate company ahead of its market debut.
Anchor Investors and Allocation
Goldman Sachs Investment Fund (Mauritius) Limited and Ashika India Select Fund participated as anchor investors. They were allocated 67,94,034 shares at the upper price band of ₹124 per share. The IPO reserves 40 percent for qualified institutional buyers, 50 percent for retail investors, and 15 percent for non-institutional investors.
Use of Funds
The company plans to deploy ₹145 crore from the IPO proceeds towards existing and upcoming projects. Another ₹91.50 crore will be used to partially or fully repay existing debt. The remaining funds will go towards general corporate purposes.
About Pranav Constructions
Established in 2003, Pranav Constructions specializes in redevelopment projects across the Greater Mumbai region. As of March 31, 2026, the company had 198 permanent employees on its rolls. The IPO will open for retail subscription from Monday, with the listing expected shortly after the issue closes. Investors can bid through their broker accounts or online trading platforms during the subscription period.
