Pranav Constructions' ₹351 cr IPO to open on Sep 7 at ₹118-124/share

Pranav Constructions has set a ₹118-124 price band for its ₹351-crore IPO, comprising a fresh issue of ₹315.6 crore and an OFS worth ₹35.4 crore

Real estate developer Pranav Constructions on Wednesday fixed a price band of ₹118 to ₹124 per share for its over ₹351-crore initial public offering (IPO). The company’s IPO will open for public subscription on September 7 and conclude on September 9. The bidding for anchor investors will take place on February 4. The IPO comprises a fresh issue of ₹315.6 crore and an offer for sale of 2.85 million equity shares worth ₹35.43 crore by investor shareholder BioUrja India Infra.  Pranav Constructions is a real estate developer, particularly in the Municipal Corporation of Greater Mumbai redevelopment segment in Mumbai’s Western suburbs. 

 

Mahanadi Coalfields files DRHP with Sebi 

Mahanadi Coalfields Ltd (MCL) has filed preliminary papers with markets regulator Sebi for an initial public offering (IPO) through which its promoter Coal India Ltd will sell a 10 per cent stake. The proposed IPO is entirely an offer for sale  of up to 66,18,36,300 equity shares by Coal India, with no fresh issue component, according to the draft red herring prospectus (DRHP) dated August 31. Since the issue comprises only an OFS, Odisha-based MCL will not receive any proceeds from the IPO.pti