Mumbai-based real estate developer Pranav Constructions Limited has launched its initial public offering (IPO) for public subscription on September 7, 2026. The book-built issue, valued at ₹351.03 crore, will remain open for bidding until September 9, 2026. The company specializes in pure-play residential redevelopment projects, primarily focused on the western suburbs of Mumbai under the Municipal Corporation of Greater Mumbai (MCGM) region.
Retail and institutional investors looking to participate in this mainboard offering can check the key parameters, price band, lot size, company performance, and issue structure below.
Pranav Constructions IPO: Key Overview & Issue Structure
The total issue size of ₹351.03 crore comprises a fresh issue of shares along with an Offer for Sale (OFS) by existing shareholders:
- Fresh Issue: Up to 2.55 crore shares aggregating up to ₹315.60 crore.
- Offer for Sale (OFS): Up to 28.57 lakh equity shares aggregating to ₹35.43 crore.
- Face Value: ₹10 per equity share.
- Listing Destinations: National Stock Exchange (NSE) and BSE.
Pranav Constructions IPO: Price Band & Lot Size
The company has fixed the price band for the offering at ₹118 to ₹124 per equity share. Bidders can apply in lots, with a minimum order quantity specified for retail and non-institutional categories.
- Minimum Lot Size: 120 shares.
- Minimum Retail Investment: ₹14,880 at the upper price band of ₹124.
- Maximum Retail Application: 13 lots (1,560 shares) amounting to ₹1,93,440.
Important Timeline & Key Dates
Investors track the following timeline for bidding, allotment, and listing:
- IPO Opening Date: September 7, 2026
- IPO Closing Date: September 9, 2026
- Basis of Allotment Finalization: September 10, 2026
- Initiation of Refunds / Demat Credit: September 11, 2026
- Tentative Listing Date: September 15, 2026
Investor Reservation Breakdown
The allocation structure across categories is categorized as follows:
- Qualified Institutional Buyers (QIB): Not less than 40% of the net issue.
- Retail Individual Investors (RII): Not more than 45% of the net issue.
- Non-Institutional Investors (NII / HNI): Not more than 15% of the net issue.
Centrum Capital Limited and PNB Investment Services Limited serve as the book-running lead managers for the issue, while KFin Technologies Limited is the registrar.
About Pranav Constructions Limited
Incorporated in July 2003, Pranav Constructions Limited operates as an integrated real estate developer. The firm follows an integrated redevelopment model handling end-to-end activities including tendering, pre-construction approvals, construction, and post-construction handover.
As of March 31, 2026, the company’s portfolio stood at 65 redevelopment projects across the MCGM region:
- 28 Completed Projects: Developable area of approximately 1.42 million sq. ft.
- 20 Projects Under Construction: Totaling 1.63 million sq. ft.
- 17 Upcoming Projects: Totaling 1.96 million sq. ft.
Financial Performance Highlights
Pranav Constructions reported steady financial growth in recent financial cycles:
- Total Income: Increased by 20% to ₹763.93 crore in FY26, up from ₹638.24 crore in FY25.
- Profit After Tax (PAT): Grew by 15% to ₹71.32 crore in FY26 compared to ₹62.25 crore in FY25.
- EBITDA: Reached ₹130.83 crore in FY26 compared to ₹98.54 crore in FY25.
- Assets & Debt: Total assets stood at ₹1,799.19 crore as of March 31, 2026, with total borrowings of ₹258.44 crore and a net worth of ₹246.70 crore.
Objects of the Issue: How Will Proceeds Be Used?
The proceeds raised from the fresh issue portion will be allocated toward:
- Funding redevelopment construction expenses for ongoing and upcoming projects.
- Statutory and government approval costs, including purchasing Floor Space Index (FSI).
- Providing compensation to existing housing society members for alternate accommodation and hardship allowances.
- Pre-payment or partial repayment of outstanding company borrowings.
- General corporate expenses and future project acquisitions.
Frequently Asked Questions (FAQs)
What are the opening and closing dates for Pranav Constructions IPO?
The Pranav Constructions IPO opens for public subscription on September 7, 2026, and closes on September 9, 2026. Bidding remains open during market hours across standard online broker platforms during this period.
What is the price band and minimum lot size for retail investors?
The price band is fixed at ₹118 to ₹124 per share. Retail investors must bid for a minimum lot size of 120 shares, requiring a minimum investment amount of ₹14,880 per application at the upper price band.
When will the allotment status for Pranav Constructions IPO be finalized?
The basis of allotment is expected to be finalized on September 10, 2026. Successful applicants will receive share credits in their demat accounts by September 11, 2026, while unallotted applicants will receive refund initiations on the same day.
On which stock exchanges will Pranav Constructions be listed?
The shares of Pranav Constructions Limited are proposed to be listed on both major Indian stock exchanges—the National Stock Exchange (NSE) and BSE. The tentative listing date is scheduled for September 15, 2026.
Conclusion
The Pranav Constructions IPO presents an opportunity for investors seeking exposure to Mumbai’s niche real estate redevelopment market. Backed by expanding project execution capabilities and operational revenue growth, the company aims to utilize fresh proceeds to strengthen its capital structure and expand ongoing projects. Investors should review risk disclosures and consult financial advisors prior to placing bids.
