Pranav Constructions has raised Rs 84.24 crore from anchor investors ahead of its initial public offering (IPO). The mainboard issue is scheduled to open for retail investors from 7 August to 9 August, with the company offering shares in a price band of Rs 118 to Rs 124 each.
The company allotted 67,94.034 shares to anchor investors at Rs 124 per share. Goldman Sachs Investment Fund (Mauritius) Limited and Ashika India Select Fund are among the funds that participated in the anchor allocation.
Pranav Constructions IPO price band and minimum investment
The IPO has a lot size of 120 shares. At the upper end of the price band, a retail investor would need Rs 14,880 for one lot. The price band is set at Rs 118-124 per share.
The total issue size is Rs 351.03 crore. The company plans to issue 2.55 crore fresh shares, while existing investors will sell 28.57 lakh shares through the offer for sale component.
Grey-market premium
The company’s shares are reported to be trading at a grey-market premium (GMP) of Rs 37. Based on the reported premium, the issue is indicating a possible listing gain of about 30 percent over the upper end of the price band. GMP figures are informal market indications and do not guarantee the listing price or returns.
Reservation for investor categories
The issue has set aside different portions for institutional and other investor groups:
- Qualified institutional buyers, or QIBs, have a 40 percent reservation.
- Retail investors have a maximum reservation of 50 percent.
- Non-institutional investors, or NIIs, have a 15 percent reservation.
Business profile and use of IPO proceeds
Pranav Constructions is a real estate company established in 2003. It undertakes redevelopment projects in Greater Mumbai. As of 31 March 2026, the company had 198 permanent employees.
From the IPO proceeds, Rs 145 crore is planned for existing and upcoming projects. Another Rs 91.50 crore is intended for the partial or full repayment of existing debt. The remaining funds will be used for general corporate purposes.
# What investors should track
The key details for applicants are the price band, lot size, subscription dates and the intended use of the funds. The reported GMP has attracted attention before the issue opens, but it is not a formal price discovery mechanism and can change before listing.
The supplied reporting contains a timing ambiguity: it describes the anchor issue as opening on a Friday while also giving retail dates of 7 August to 9 August and referring to the issue as opening the following week. Investors should verify the final dates and timetable in the official IPO documents before applying.
Conclusion
Pranav Constructions has raised Rs 84.24 crore from anchor investors, while its public issue offers a Rs 118-124 price band and a minimum one-lot application of Rs 14,880. The company plans to use the proceeds for projects, debt repayment and corporate purposes, while the reported Rs 37 GMP remains only an informal indication.
Frequently Asked Questions
Q. How much did Pranav Constructions raise from anchor investors?
The company raised Rs 84.24 crore from anchor investors.
Q. What is the Pranav Constructions IPO price band?
The price band is Rs 118 to Rs 124 per share.
Q. What is the minimum investment for one retail lot?
The lot size is 120 shares, requiring Rs 14,880 at the upper end of the price band.
Q. When can retail investors subscribe to the IPO?
Retail investors are scheduled to bid from 7 August to 9 August. The final timetable should be checked in the official IPO documents because the supplied reporting contains a timing ambiguity.
Q. What is the reported GMP for Pranav Constructions IPO?
The reported grey-market premium is Rs 37, indicating an informal possible listing gain of about 30 percent over the upper price-band level.
Q. What does Pranav Constructions do?
It is a real estate company that undertakes redevelopment projects in Greater Mumbai.
Q. How will the IPO proceeds be used?
Rs 145 crore is planned for projects, Rs 91.50 crore for existing debt repayment, and the balance for general corporate purposes.
