Pranav Constructions IPO GMP today: All eyes are on the listing of Pranav Constructions initial public offering. Ahead of its scheduled IPO listing on Tuesday, September 15, its grey market premium (GMP) hints at 36% listing gain. Pranav Construction IPO was subscribed by a whopping 121 times.
As Pranav Constructions IPO countdown begins, here are all the details about the issue, including its IPO gmp today, expected listing gain, and other details.
Pranav Constructions latest IPO gmp
Pranav Construction’s latest IPO GMP was recorded at ₹45. Considering its grey market premium and an upper price band of ₹124, the IPO is estimated to be listed at ₹169 per share. It indicates an 36.29% of listing gain.
Investors must note that an IPO’s gmp indicates its demand in the unregulated market, hence, should not be considered an accurate indicator of its listing-day performance.
Pranav Constructions price band, issue size details
The IPO is a book build issue of ₹351 crores, which is a combination of fresh issue of 2.55 crore shares, equivalent to ₹315.6 crores and an offer for sale of 28.57 lakh shares aggregating to ₹35.43 crores.
Pranav Constructions IPO key dates
The IPO bidding started on Monday, September 7, and concluded on Wednesday, September 9. The Pranav Constructions IPO allotment was finalised on September 10, and the listing is likely to take place on September 15 on BSE and NSE.
The company had fixed the final issue price of ₹124 per share. The lot size for an application is 120 shares. The minimum amount of investment required by a retail investor is ₹14,880. Centrum Capital is the book running lead manager, whereas Kfin Technologies is the registrar of the issue.
Subscription status
The leading Mumbai-based real estate player's IPO was subscribed around 121 times. Its IPO received strong response from retail as well as NII investors. The offer had received bids for 2718.04 million shares as against 22.46 million shares on offer
About Pranav Constructions IPO
The Mumbai-headquartered Pranav Constructions Limited was incorporated in Juky 2003. The real estate firm is mostly engaged in redevelopment projects in the Municipal Corporation of Greater Mumbai (MCGM) region. The company's predominant focus will be on the Western Suburbs. Originally incorporated as Pranav Constructions Private Limited, the company was later converted into a public limited company in 2024.
Its specialisation spans around pure-play redevelopment and across residential segments including economical, mid and mass, and aspirational homes. The company's portfolio includes 65 redevelopment projects across the MCGM Region, 28 completed projects, 20 under-construction projects and 17 upcoming projects.
