Pranav Constructions Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹118–124
- Lot size
- 120 shares
- Issue amount
- ₹351.03 cr
- Total subscription
- 126.34×
- Opens
- 7 Sept 2026
- Closes
- 9 Sept 2026
- Allotment
- 10 Sept 2026
- Listing
- 15 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 2,83,08,480 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹14,160
- Fresh issue
- ₹315.6 cr
- Offer for sale
- ₹35.42 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,880
- Issue type
- Bookbuilding IPO
- Shares before issue
- 8,71,71,170
- Shares after issue
- 11,26,22,782
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 120 | ₹14,880 |
| sHNI | 14 | 1,680 | ₹2,08,320 |
| bHNI | 68 | 8,160 | ₹10,11,840 |
Share reservation
Subscription & GMP
Subscription by category
Reported 9 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,06,157 | 42,54,502 |
| HNIs(10L +) | 1,685 | 82,647 |
| HNIs (2-10L) | 843 | 1,38,037 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 56.16 | 15,082.4 |
| RETAIL | 157.96 | 7,156.96 |
| NIB | 52.65 | 11,464.42 |
| HNIs 2+ | 17.55 | 2,967.36 |
| HNIs 10+ | 35.1 | 8,497.05 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 8.18 | 7.22 | 4.66 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | 33.78 | 47.17 | 64.93 |
| PRE IPO(PE) | 15.16 | 0 | 0 |
| POST IPO(PE) | 19.59 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Keystone Realtors Limited | 64.86 | 402.8 | 10 | 229.29 | 3.34 | 6.25 |
| Godrej Properties Limited | 33.25 | 2,042.20 | 5 | 642.58 | 9.97 | 61.43 |
| Lodha Developers Limited | 33.48 | 1,146.60 | 10 | 234.55 | 15.71 | 34.34 |
| Suraj Estate Developers Limited | 9.94 | 193.95 | 5 | 207.87 | 9.53 | 19.51 |
| Kolte-Patil Developers Limited | 0 | 388.65 | 10 | 135.84 | -3.73 | -4.51 |
| Pranav Constructions Limited | 15.16 | 124.00 | 10 | 28.3 | 33.78 | 8.18 |
| Arkade Developers Limited | 482.59 | 139.95 | 10 | 47.51 | 0.60 | 0.29 |
| Kalpataru Limited | 56.64 | 269.6 | 10 | 198.04 | 2.45 | 4.76 |
Company information
Company profile
Incorporated in 2003, Pranav Constructions Limited is an Indian construction company engaged in residential, commercial and infrastructure development. The company develops affordable housing, premium apartments and gated communities, constructs office spaces, retail centres and mixed-use projects, and undertakes infrastructure works such as roads, bridges and water supply projects. It has strong in-house capabilities to handle the complete redevelopment process from bidding and planning to construction and final handover, and is a leading player in MCGM redevelopment projects in Mumbai’s western suburbs. Pranav Constructions has completed 26 redevelopment projects and has several projects under construction and in the pipeline, reflecting steady growth in project acquisitions, and employed 139 people as of December 31, 2024.
Strengths
- Strong Position in Redevelopment Projects: Pranav Constructions is a leading name in MCGM redevelopment projects across Mumbai’s western suburbs, supported by a strong track record of completed, ongoing, and upcoming developments.
- Complete In-House Execution Capabilities: The Company handles the entire redevelopment process internally, from tendering and regulatory approvals to construction and post-handover activities, ensuring better control over project timelines, quality, and costs.
- Steady Project Wins and Business Growth: A notable rise in redevelopment project awards since 2021 highlights the Company’s strong market reputation, execution strength, and continued demand in the urban redevelopment sector.
Risk factors
- High Geographic Concentration: Most of the Company’s projects are focused in Mumbai’s western suburbs, which increases exposure to regional regulatory changes, policy decisions, and local market risks.
- Dependence on the Redevelopment Segment: The Company’s strong reliance on redevelopment projects limits diversification and makes revenues sensitive to approval delays, tenant-related issues, and regulatory clearances.
- Relatively Small Workforce: With 139 employees as of December 2024, the Company may face challenges in execution and scaling operations as the number of ongoing and upcoming projects grows.
Promoters
Pranav Kiran Ashar
Ravi Ramalingam
Registrar & documents
Lead manager
Centrum Capital Limited, Pnb Investment Services Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Unit No. 1001, 10th Floor, DLH Park, Near MTNL, S.V. Road, Goregaon (West), Mumbai, Maharashtra, 400104
+91 22 6276 9939
[email protected]Company website ↗Understanding PRANAV IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.