Pranav Constructions IPO Opens Today: Check GMP, Price Band, Subscription, Allotment Date, Listing and Key Details

7 Sep 2026 , 11:17 AM

Pranav Constructions IPO opened for subscription on today, September 7, 2026, giving investors another opportunity to participate in the Mumbai-focused real estate company’s public issue. The IPO will remain open for bidding until September 9, while the allotment is expected to be finalised on September 10.

The Pranav Constructions IPO has a total issue size of ₹351.03 crore and comprises a fresh issue as well as an offer for sale. The company has fixed the price band at ₹118 to ₹124 per share. At the upper end of the price band, retail investors need to invest a minimum of ₹14,880 for one lot of 120 shares.

Pranav Constructions IPO GMP Today

The grey market premium, or GMP, for Pranav Constructions IPO is currently trading at ₹44 per share on September 7, according to the latest available data.

With the IPO’s upper price band fixed at ₹124, a GMP of ₹44 reflects an estimated listing price of around ₹168 per share. This indirectly means a potential listing premium of approximately 35.48% over the issue price.

Based on the current GMP, the estimated profit for one lot of 120 shares could be around ₹5,280 if the stock lists at the implied grey-market price.

However, investors should note that GMP is an unofficial market indicator and does not guarantee the actual listing price. The grey market premium can change before listing depending on market conditions, subscription levels and investor sentiment.

Pranav Constructions IPO GMP Trend

The GMP has shown a steady upward movement in the days leading up to the IPO opening.

On September 1, the GMP was ₹23. It increased to ₹27 on September 2, ₹31 on September 3 and ₹37 on September 4. The premium moved further to ₹41 on September 5 and ₹44 on September 6. On September 7, the GMP remained at ₹44 in the latest available update.

At the current GMP of ₹44, the implied listing price is ₹168 against the upper IPO price of ₹124.

Pranav Constructions IPO Details

Pranav Constructions IPO is a book-building issue aggregating up to ₹351.03 crore.

IPO opening date: September 7, 2026

IPO closing date: September 9, 2026

Allotment date: September 10, 2026

Refund initiation: September 11, 2026

Credit of shares: September 11, 2026

Tentative listing date: September 15, 2026

Price band: ₹118 to ₹124 per share

Lot size: 120 shares

Minimum retail investment: ₹14,880

Issue type: Bookbuilding IPO

Issue size: ₹351.03 crore

Fresh issue: 2,54,51,612 shares

Offer for sale: 28,56,869 shares

Listing exchanges: NSE and BSE

Pranav Constructions IPO Issue Structure

The public issue consists of a fresh issue of 2.55 crore shares aggregating to approximately ₹315.60 crore at the upper price band. In addition, existing shareholders are offering 28.57 lakh shares through the offer-for-sale component, amounting to approximately ₹35.43 crore.

The company expects the post-issue shareholding to increase to 11,26,22,782 shares from 8,71,71,170 shares before the issue.

Pranav Constructions IPO Investment: Minimum Amount

The minimum application size for retail investors is one lot, comprising 120 shares.

At the upper end of the price band of ₹124, investors will have to pay ₹14,880 for one lot.

The actual investment requirement may vary depending on the final bid price selected by the investor within the IPO price band.

Pranav Constructions IPO About the Company

Pranav Constructions Limited is a Mumbai-based real estate company focused primarily on redevelopment projects in the Municipal Corporation of Greater Mumbai region.

The company has a particular presence in Mumbai’s Western Suburbs and has been involved in redevelopment projects since 2012. Its portfolio covers residential projects across economical, mid and mass-market as well as aspirational housing segments.

As of March 31, 2026, Pranav Constructions had 65 redevelopment projects in its portfolio. This included 28 completed projects, 20 projects under construction and 17 upcoming projects. Together, these projects represented a Total Developable Area of approximately 5.01 million square feet.

The company follows an integrated redevelopment model, with capabilities spanning tendering, pre-construction, construction and post-construction activities.

Pranav Constructions Financial Performance

Pranav Constructions has reported growth in both revenue and profitability over the past three financial years.

The company’s total income increased from ₹449.75 crore in FY24 to ₹638.24 crore in FY25 and further to ₹763.93 crore in FY26.

Profit after tax rose from ₹39.62 crore in FY24 to ₹62.25 crore in FY25 and ₹71.32 crore in FY26.

EBITDA also increased from ₹59.73 crore in FY24 to ₹98.54 crore in FY25 and ₹130.83 crore in FY26.

Pranav Constructions Financials

FY26 total income: ₹763.93 crore

FY25 total income: ₹638.24 crore

FY24 total income: ₹449.75 crore

FY26 PAT: ₹71.32 crore

FY25 PAT: ₹62.25 crore

FY24 PAT: ₹39.62 crore

FY26 EBITDA: ₹130.83 crore

FY25 EBITDA: ₹98.54 crore

FY24 EBITDA: ₹59.73 crore

The company’s revenue increased by around 20% in FY26 compared with FY25, while profit after tax grew by approximately 15%.

Pranav Constructions IPO Objectives

The company plans to use the net proceeds from the issue for several purposes, with a significant portion earmarked for redevelopment-related expenses and debt repayment.

Around ₹145.72 crore is proposed to be used towards funding redevelopment expenses. This includes costs associated with government and statutory approvals, acquisition of additional FSI, alternate accommodation and hardship compensation for members in certain under-construction and upcoming redevelopment projects.

Another ₹91.50 crore is proposed to be used for repayment or pre-payment of certain borrowings.

The remaining proceeds are intended for the acquisition of future redevelopment projects and general corporate purposes.

The total amount identified for these stated objects is approximately ₹237.22 crore.

Pranav Constructions IPO Valuation

At the upper price band of ₹124, the company’s pre-IPO EPS is ₹8.18, while post-IPO EPS is estimated at ₹6.33.

The pre-IPO price-to-earnings ratio stands at around 15.16 times, while the post-IPO P/E works out to approximately 19.59 times.

The company’s market capitalisation at the offer price is estimated at around ₹1,396.52 crore on a post-issue basis.

Pranav Constructions IPO Key Performance Indicators

The company’s return on equity stood at 33.78% in FY26 compared with 47.17% in FY25. ROCE was relatively stable at 24.34% in FY26 against 24.83% in FY25.

The debt-to-equity ratio improved from 1.15 in FY25 to 1.08 in FY26.

The PAT margin stood at 9.37% in FY26, compared with 9.78% in FY25, while EBITDA margin improved to 17.18% from 15.49%.

Pranav Constructions IPO Competitive Strengths

Pranav Constructions has highlighted its track record of financial performance and project execution as key strengths.

The company’s focus on redevelopment provides it with a specialised business model in Mumbai’s real estate market. Its integrated approach allows the company to manage multiple stages of redevelopment in-house.

The company also has an established presence in Mumbai’s Western Suburbs, along with a project pipeline covering completed, ongoing and upcoming redevelopment projects.

Its management team and promoters bring experience in the sector, while the company says it follows professional management and corporate governance practices.

Pranav Constructions IPO Allotment and Listing Date

The basis of allotment for Pranav Constructions IPO is expected to be finalised on September 10, 2026.

For investors who do not receive an allotment, the refund process is scheduled to begin on September 11. Shares are expected to be credited to successful applicants’ demat accounts on the same day.

The Pranav Constructions shares are tentatively scheduled to list on both NSE and BSE on September 15, 2026.

 

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