Pranav Constructions Limited IPO — Subscription & GMP
- Price band
- ₹118 – ₹124
- Lot size
- 120
- Issue size
- ₹351.03 Cr
- Bidding
- 07 Sept 2026 → 09 Sept 2026
- Allotment
- —
- Listing
- 15 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 2.4 percentage points in the buyer’s favour — it implied +30.65% and the issue listed +33.06%. Counted in our running GMP accuracy record.
Schedule
- 07 Sept 2026IPO open date
- 09 Sept 2026IPO close date
- 10 Sept 2026Allotment date†
- 10 Sept 2026Funds unblock or debit†
- 15 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsPranav Constructions Limited - Business Model Summary
Pranav Constructions Limited operates primarily as a real estate development company specializing in the pure-play redevelopment of cooperative housing societies within the Municipal Corporation of Greater Mumbai (MCGM) region.
Core Operating Segments & Model
1. Redevelopment Agreement Model: - Instead of purchasing raw land outright—which significantly minimizes upfront capital requirements and land acquisition costs—the company partners directly with existing Cooperative Housing Societies. - It undertakes the demolition of ageing residential structures to build modern, high-rise multi-story premises.
2. Value Exchange & Execution: - For Existing Occupants: Provides upgraded, brand-new housing units to the current members of the society at no additional cost. - For Commercial Revenue: Constructs extra saleable residential inventory (free-sale area) to market and sell to external buyers. - Target Segments: Focuses largely on economical, mid-range, mass, and aspirational housing segments, predominantly across Mumbai's western suburbs (such as Vile Parle, Santacruz, Malad, Borivali, and Goregaon).
3. Integrated Lifecycle Management: - Handles the entire real estate lifecycle in-house, spanning land tendering, statutory approvals, pre-construction planning, engineering execution, and post-construction handover.
Revenue Streams Revenue is generated primarily through the development and open-market sale of residential apartment units created as surplus free-sale space during society redevelopment projects.
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS | ₹8.18 | — |
| P/E ratio | 15.16× | — |
Promoter holding pre/post issue is in the offer document but we do not yet extract it. Left blank rather than estimated.
Read from the company’s offer document filed with SEBI. Figures are the latest reported financial year, as restated in that filing.
Figures are as reported and not independently audited, and are read 46 d ago.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 800 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 47.02 L | 91.55 Cr | 194.73× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 10.13 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 52.94 Cr | — |
| 1(c)Mutual funds | — | 1.42 Cr | — |
| 2Non Institutional Investors | 44.40 L | 67.52 Cr | 152.06× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 29.60 L | 51.67 Cr | 174.56× |
| 2.1(c)Others | — | 2.07 Cr | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 14.80 L | 15.85 Cr | 107.07× |
| 2.2(a)Corporates | — | 6.70 L | — |
| 2.2(b)Individuals(Other than RIIs) | — | 15.16 Cr | — |
| 3Retail Individual Investors(RIIs) | 1.33 Cr | 36.53 Cr | 27.42× |
| 3(a)Cut Off | — | 32.14 Cr | — |
| 3(b)Price bids | — | 4.39 Cr | — |
| Total | 2.25 Cr | 195.61 Cr | 87.08× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹118 → ₹124 · peak 272.21 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
Anchor allocation report (NSE)
This issue’s anchor letter was filed as a scanned image with no text layer, so the allocation table cannot be read without OCR. We link the filing rather than publish figures we cannot verify.
Equity split
Fresh equity vs offer for sale- Fresh equity
- ₹315.60 Cr 89.9%
- Offer for sale
- ₹35.43 Cr 10.1%
- Total issue size
- ₹351.03 Cr
Read from the issue size stated in NSE's filing. The filing quotes the offer for sale as 28.57 L shares rather than a rupee amount, so it is valued here at the cap price of ₹124 — the final figure moves with the issue price.
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹118 – ₹124
- Lot size
- 120 shares
- Min. bid quantity
- 120
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 2.25 Cr
- Issue size
- ₹351.03 Cr
- Max bid · QIB
- 2.25 Cr
- Max bid · NII
- 1.78 Cr
Timeline & process
- Bidding opens
- 07 Sept 2026
- Bidding closes
- 09 Sept 2026
- Bidding hours
- 10.00 a.m. to 5.00 p.m.
- UPI mandate cutoff
- 09-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability to participate in IPOs by successfully accepting the mandate.
- Allotment
- —
- Listing
- 15 Sept 2026
Intermediaries
- Registrar
- KFin Technologies Limited
- Sponsor bank
- HDFC BANK
- Lead managers
- Centrum Broking Limited, PNB Investment Services Limited