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  1. Pranav Constructions IPO Day 1: Check subscription status, objectives, price band and lot size

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Pranav Constructions IPO Day 1: Check subscription status, objectives, price band and lot size

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.

2 min read | Updated on September 07, 2026, 07:51 IST

SUMMARY

Pranav Constructions IPO is a mix of fresh issuance of shares aggregating to ₹315.60 crore and an offer for sale (OFS) component of ₹35.43 crore by existing shareholder BioUrja India Infra Private Limited.

Pranav Constructions Ltd is a Mumbai-based real estate developer predominantly undertaking redevelopment projects in the Western Suburbs. | Image: Facebook/Pranav Constructions

Pranav Constructions Ltd is a Mumbai-based real estate developer predominantly undertaking redevelopment projects in the Western Suburbs. | Image: Facebook/Pranav Constructions

Real estate developer Pranav Constructions Ltd's ₹351.03 crore initial public offering (IPO) opened for subscription on Monday, September 7. The issue will end on September 9. The price band has been fixed as ₹118 to ₹124 per share.

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The initial share sale is a mix of fresh issuance of shares aggregating to ₹315.60 crore and an offer for sale (OFS) component of ₹35.43 crore by existing shareholder BioUrja India Infra Private Limited.

The money raised will be used for the following objectives:

  • Funding costs towards obtaining government and statutory approvals and purchase of additional FSL and costs towards compensation to members towards alternate accommodation and hardship compensation related to certain under-construction redevelopment projects and certain upcoming redevelopment projects.
  • Repayment of certain borrowings availed by the company.
  • Acquiring future redevelopment projects and general corporate purposes.

Pranav Constructions IPO Day 1: Subscription status

The subscription details for the first day of the issue will be available post 10 am.

Pranav Constructions IPO: Lot size

A lot consists of 120 shares and in multiples thereafter.

Before the IPO, the company raised ₹84.24 crore from anchor investors, including Goldman Sachs Investments (Mauritius) Ltd, Taurus Mutual Fund, Abudantia Capital VCC, ITI Mutual Fund and Ashika India Select Fund.

It allocated 67.94 lakh shares at ₹124 a unit to anchor investors, according to a circular uploaded on the BSE website.

Pranav Constructions Ltd is a Mumbai-based real estate developer predominantly undertaking redevelopment projects in the Western Suburbs. As of March 2026, its portfolio included 65 redevelopment projects, including 28 completed redevelopment projects, 20 under-construction redevelopment projects and 17 upcoming redevelopment projects.

It is ranked number 1 in the Municipal Corporation of Greater Mumbai (MCGM) region for having the highest combined supply in MCGM-redevelopment projects launched between CY21 and Q1 CY26.

The company's shares will be listed on the NSE and the BSE on September 15.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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