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Pranav Constructions IPOLISTED
Pranav Constructions Limited is a Mumbai-based real estate company focused on residential redevelopment projects, primarily across the MCGM Region and Western Suburbs.
Listing price
₹165
Listing gain
+33.06%
Current
₹165
Listed
15 Sept 26
Opens
07 Sept 26Closes
09 Sept 26Allotment
10 Sept 26Refund
11 Sept 26Demat
11 Sept 26Listing
15 Sept 26Listed at
₹165
+33.06% on 15 Sept 26
Overview
Price band
₹118-124
Lot size
120 shares
Min. investment
₹14,400
Issue size
₹351.03 Cr
2.83 Cr shares
Fresh issue
₹315.6 Cr
2.55 Cr shares
Offer for sale
₹35.43 Cr
28.57 L shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 67,94,034 | 24% |
| QIB | 45,29,358 | 40% |
| NII (HNI) | 42,46,272 | 15% |
| B-HNI | 28,30,848 | 10% |
| S-HNI | 14,15,424 | 5% |
| Individual | 1,27,38,816 | 45% |
| Total | 2,83,08,480 | 124% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,400 |
| Retail (Max) | 13 | 1,560 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,680 | ₹2,08,320 |
| S-HNI (Max) | 67 | 8,040 | ₹9,96,960 |
| B-HNI (Min) | 68 | 8,160 | ₹10,11,840 |
Listing performance
NSE/BSE: PRANAVListing gain
+33.06%
Gain per retail lot
₹4,920
Latest vs issue
—
GMP was
₹47 (+37.90%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
Pranav Constructions Live GMP
Latest GMP
₹47
All-time high
₹669
All-time low
₹27
Subscription
10 Sept, 12:00 amOversubscribed 126.34 times · 44,83,673 applications
Total applications
44,83,673
Total bid amount
₹33,704 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 45,29,358 | 1,21,63,22,400 | 268.54x | ₹15,082 Cr |
| NII (HNI) | 42,46,272 | 92,45,49,840 | 217.73x | ₹11,464 Cr |
| B-HNI | 28,30,848 | 68,52,46,320 | 242.06x | ₹8,497 Cr |
| S-HNI | 14,15,424 | 23,93,03,520 | 169.07x | ₹2,967 Cr |
| Retail | 1,27,38,816 | 57,71,73,840 | 45.31x | ₹7,157 Cr |
| Total | 2,15,14,446 | 2,71,80,46,080 | 126.34x | ₹33,704 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 1,685 | 82,647 | 49.05x |
| S-HNI | 843 | 1,38,037 | 163.74x |
| Retail | 1,06,157 | 42,54,502 | 40.08x |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
33.78%
PAT Margin
9.37%
ROCE
24.34%
EBITDA Margin
17.18%
Debt to Equity Ratio
1.08
RoNW
33.78%
Valuation vs listed peers
EPS Pre IPO
₹8.18
EPS Post IPO
₹6.33
P/E Pre IPO
15.16
P/E Post IPO
19.59
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| Keystone Realtors Limited | 64.86 | — | — | ₹10 |
| Godrej Properties Limited | 33.25 | — | — | ₹5 |
| Lodha Developers Limited | 33.48 | — | — | ₹10 |
| Suraj Estate Developers Limited | 9.94 | — | — | ₹5 |
| Arkade Developers Limited | 482.59 | — | — | ₹10 |
| Kalpataru Limited | 56.64 | — | — | ₹10 |
Peer median P/E 45.1× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+69.9%
Profit growth FY24 → FY26
+80.0%
P/E vs peer median
19.6× vs 45.1×
- PAT margin 9.4% and ROCE 24.3%.
- Priced below its listed-peer median P/E.
Strengths & risks
- Leading market position with a No. 1 ranking in Mumbai’s Western Suburbs.
- Strong project pipeline with 28 completed, 20 under-construction, and 17 upcoming projects.
- Established track record with redevelopment operations since 2012.
- In-house expertise supported by 198 employees, including 25 architects.
Buzz score · Solid
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding costs towards obtaining government and statutory approvals and purchase of additional FSI and cost towards Compensation to members towards alternate accommodation, and hardship compensation, in relation to the development of certain of the Under-construction Redevelopment Projects, and certain of the Upcoming Redevelopment Projects (Funding Redevelopment Expenses. | 145.72 |
| Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company. | 91.5 |
| Funding acquisition of future redevelopment projects and general corporate purposes. | - |
Company & documents
Pranav Constructions Limited is a Mumbai-based real estate company focused on redevelopment projects in the MCGM Region, mainly across the Western Suburbs. Since 2012, the Company has been undertaking redevelopment projects, focusing on Economical, Mid & Mass, and Aspirational homes.
The Company had 28 completed, 20 under-construction, and 17 upcoming redevelopment projects as of March 31, 2026, with a combined developable area of approximately 5.01 million sq. ft.
Pranav Constructions has established a strong presence in Mumbai’s redevelopment market, ranking 1st in the Western Suburbs based on completed and under-construction MCGM redevelopment projects. Between CY17 and Q1 CY26, it had 34 projects comprising 1,864 units, while between CY21 and Q1 CY26, it ranked 1st with 27 projects and 1,517 units.
The Company’s portfolio includes 3,323 residential and 383 commercial units, totalling 3,706 units.
The Company has in-house expertise across key functions, supported by 198 employees, including 25 architects, enabling end-to-end project execution and timely completion.
Registrar
Company contact
Pranav Constructions Ltd.
Unit No. 1001, 10th Floor, DLH Park Near MTNL, S.V. Road Goregaon (West) Mumbai, Maharashtra, 400104
Phone: +91 22 6276 9939
Book running lead managers
- Centrum Capital Ltd.
- PNB Investment Services Ltd.
Promoters
- Pranav Kiran Ashar
- Ravi Ramalingam