Pranav Constructions gains on debut

Shares of Pranav Constructions were currently trading at Rs 136.45 at 10:22 IST on the BSE, representing a premium of 9.52% as compared with the issue price of Rs 124.

The stock debuted at Rs 162 on the BSE, a premium of 30.65% over its issue price.

So far, the stock has hit a high of Rs 164.50 and a low of Rs 129.60. On the BSE, over 45.08 lakh shares of the company were traded in the counter so far.

Pranav Constructions was subscribed 121 times. The issue opened for bidding on 7 September 2026 and closed on 9 September 2026. The price band of the IPO is fixed between Rs 118 and 124 per share.

The offer comprised a fresh issue of equity shares of Rs 10 each aggregating to Rs 316 crore and an offer for sale of 2856869 equity shares by BioUrja India Infra, an investor selling shareholder.

Of the net proceeds from the fresh issue, the company intends to use Rs 145.718 crore to meet the funding costs towards obtaining government and statutory approvals and purchase of additional FSI as per applicable laws and cost towards compensation to members towards alternate accommodation and hardship compensation in relation to the development of certain under-construction/upcoming redevelopment projects; Rs 91.5 crore towards prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the company; and the balance towards general corporate purposes.

Pranav Constructions is a Mumbai-focused real estate developer specializing in pure-play redevelopment projects, primarily in the western suburbs of the MCGM region. The company operates across economical, mid and mass- and aspirational housing segments under the PCPL brand. As of March 2026, it had 65 redevelopment projects across the MCGM region, including completed, under-construction and upcoming projects.

Ahead of the IPO, Pranav Constructions, on 04 August 2026, raised Rs 84.24 crore from anchor investors. The board allotted 67.94 lakh shares at Rs 124 each to 14 anchor investors.

The firm reported a consolidated net profit of Rs 71.32 crore and sales of Rs 761.60 crore for the twelve months ended on 31 March 2026.

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