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Pranav Constructions IPO
Price Band
₹118.0–124.0
Issue Size
₹351.03 Cr
Lot Size
120 shares
Min Investment
₹14,880
GMP
+₹52.0 (41.94%)
Issue Price
₹124.0
Subject to Sauda
₹4700
Paid only if allotted
Pranav Constructions IPO AI Summary
- Pranav Constructions IPO is listed on BSE, NSE in the Residential, Commercial Projects sector.
- Price band: ₹118.0–₹124.0 per share, lot size 120 shares (min. investment ₹14,880).
- Subscription window: 07 Sep–09 Sep 2026, listing on 15 Sep 2026.
- Current GMP is +₹52.0 (41.94%), an estimated listing price of ₹176 — unofficial and can change daily.
Pranav Constructions Limited is set to make its debut on the stock market following a successful IPO that saw significant oversubscription across all categories. With a strong focus on redevelopment projects in Mumbai and a solid financial performance, the company aims to leverage the proceeds from the IPO for further growth and expansion.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Pranav Constructions IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 09 Sep 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
126.34x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
268.54x
|
269x 🔥 |
| NII (HNI) |
217.73x
|
218x 🔥 |
| ↳ bNII (>₹10L) |
242.06x
|
242x 🔥 |
| ↳ sNII (<₹10L) |
169.07x
|
169x 🔥 |
| Retail (RII) |
45.31x
|
45x ✓ |
| Total | 126.34x | 126.34x |
Auto-updated every 5 min · As of 9th Sep 2026 18:54
Pranav Constructions IPO Grey Market Premium (GMP) Today
GMP
+₹52.0
GMP %
+41.94%
Est. Listing
₹176.0
Updated: 15 Sep 2026 05:15
GMP Trend (Last 13 Days)
About the Company
Incorporated in 2003, Pranav Constructions Limited is an Indian construction company specializing in residential, commercial, and infrastructure development projects. Key Services: Residential Projects: Develop affordable housing, premium apartments, and gated communities. Commercial Projects: Builds office spaces, retail centers, and mixed-use developments. Infrastructure Development: Engaged in road construction, bridges, water supply projects, and other public infrastructure works. Redevelopment Expertise: The company has in-house capabilities to manage the entire redevelopment process, including: Tendering Stage – Bidding for projects. Pre-Construction Stage – Planning and approvals. Construction Stage – Project execution. Post-Construction Stage – Final handover and management. Market Position & Projects: Leader in MCGM Redevelopment Projects in Mumbai's Western Suburbs (based on units supplied and projects completed/under construction). Completed Redevelopment Projects: 26 projects with a total developable area of 1.25 million sq. ft. Some notable projects include: Gold Coin CHSL, Gala Apartments CHSL, Ramesh Mandir CHSL, New Shalimar Apartments CHSL, Malad Marudhar CHSL, and Tiara CHSL in Malad. Popular Terrace CHSL in Borivali. Under-Construction Redevelopment Projects: 11 projects with 1.07 million sq. ft. of total developable area. Upcoming Redevelopment Projects: 21 projects with 1.87 million sq. ft. of total developable area. Growth & Expansion: Between March 31, 2012, and March 31, 2021, the company procured 27 redevelopment projects with a total developable area of 1.86 million sq. ft. From April 1, 2021, to December 31, 2024, it secured 31 redevelopment projects covering 2.33 million sq. ft. The company had 139 employees as of December 31, 2024.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,799.19 | 1,246.29 | 966.80 |
| Total Income | 763.93 | 638.24 | 449.75 |
| Profit After Tax | 71.32 | 62.25 | 39.62 |
| EBITDA | 130.83 | 98.54 | 59.73 |
| NET Worth | 246.70 | 175.59 | 88.37 |
| Reserves and Surplus | 159.52 | 88.41 | 84.70 |
| Total Borrowing | 258.44 | 196.50 | 99.34 |
Key Ratios
EPS
₹8.18
ROE
47.17%
ROCE
24.83%
RoNW
47.17%
P/E Ratio
15.16
Market Cap
₹1396.52 Cr
PAT Margin
9.78%
Debt/Equity
1.15
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Kalpataru Ltd | 198.04 | 2.45% | 56.64 | 4.76 | 4.76 |
| Arkade Developers Ltd | 47.51 | 0.6% | 482.59 | 0.29 | 0.29 |
| Kolte-patil Developers Ltd | 135.84 | -3.73% | — | -4.51 | -4.51 |
| Suraj Estate Developers Ltd | 207.87 | 9.53% | 9.94 | 19.51 | 19.51 |
| Lodha Developers Ltd | 234.55 | 15.71% | 33.48 | 34.34 | 34.25 |
| Godrej Properties Ltd | 642.58 | 9.97% | 33.25 | 61.43 | 61.42 |
| Keystone Realtors Ltd | 229.29 | 3.34% | 64.86 | 6.25 | 6.21 |
| Pranav Constructions Limited This IPO | 28.3 | 33.78% | — | 8.18 | 8.18 |
Promoters
Pranav Kiran Ashar, Ravi Ramalingam
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 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 2 Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company 91.50 3 Funding acquisition of future redevelopment projects and general corporate purposes. 42.57 4 Issue Expenses 40.31 Total 320.10
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹449.75 Cr in the period ending 31 Mar 2024, rising to ₹638.24 Cr by 31 Mar 2025, and further increasing to ₹763.93 Cr by 31 Mar 2026. This indicates a consistent growth in revenue over the periods.
Profit Trend
Profit After Tax was ₹39.62 Cr in the period ending 31 Mar 2024, increasing to ₹62.25 Cr by 31 Mar 2025, and further rising to ₹71.32 Cr by 31 Mar 2026. This shows a positive trend in profitability across the reported periods.
Valuation
Pranav Constructions has an EPS of ₹8.18, which implies a P/E ratio of 15.16 at the issue price. This is lower than peers such as Lodha Developers Ltd and Godrej Properties Ltd, which have P/E ratios of 33.48 and 33.25, respectively.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. A positive GMP indicates that the shares are expected to list at a higher price than the issue price, while a negative GMP suggests the opposite. Investors often use GMP as a gauge of market sentiment towards an IPO.
Subscription Demand
As of 9th September 2026, the IPO was oversubscribed 126.34 times overall. The institutional category saw significant interest, with QIBs subscribing 268.54 times and NIIs subscribing 217.73 times. Retail investors also showed strong demand, with a subscription rate of 45.31 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market conditions, and their own investment strategy.
Who May Want to Wait
Investors with a low risk tolerance or those who prefer stable, established companies may want to avoid this IPO, as construction and real estate sectors can be volatile and subject to market fluctuations.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While a strong GMP may suggest potential gains, market conditions can change rapidly, and there is no guarantee that shares will perform well on the first day of trading. Investors should be prepared for the possibility of price fluctuations.
This evaluation is generated from Pranav Constructions's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Pranav Constructions IPO GMP today?
Pranav Constructions IPO GMP today is +₹52.0 (41.94%), indicating an estimated listing price of ₹176. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Pranav Constructions IPO?
The price band of Pranav Constructions IPO is ₹118.0–₹124.0 per share.
When does Pranav Constructions IPO open and close?
Pranav Constructions IPO opens on 07 September 2026 and closes on 09 September 2026.
When does Pranav Constructions IPO list on the stock exchange?
Pranav Constructions IPO listed on 15 September 2026 at ₹176.0.
What is the lot size for Pranav Constructions IPO?
The lot size for Pranav Constructions IPO is 120 shares, requiring a minimum investment of ₹14,880.
What is the lot size for this IPO?
The lot size for Pranav Constructions IPO is 120 shares.
What is the minimum investment required?
The minimum investment required is ₹14,880.
What is the price band for the IPO?
The price band for the IPO is ₹118 to ₹124.
When does the IPO open and close?
The IPO opens on 7th September 2026 and closes on 9th September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the stock on its listing day compared to the issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
07 Sep 2026
Close
09 Sep 2026
Allotment
10 Sep 2026
Listing
15 Sep 2026
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