Pranav Constructions IPO makes strong debut, lists over 33% higher

Pranav Constructions shares listed 30 per cent higher at ₹162 on BSE and 33 per cent higher at ₹165 on NSE.

Pranav Constructions shares made a strong debut on the exchanges on Tuesday as they listed above the IPO price, in-line with the grey market expectations.

 

Pranav Constructions shares listed 30.65 per cent higher at ₹162 on BSE and 33 per cent higher at ₹165 on NSE.

 

Ahead of the debut, Pranav Constructions IPO’s grey market premium (GMP) was trading at a strong premium. The estimated listing price for Pranav Constructions IPO at the GMP was ₹177, higher than IPO price of ₹124

 

The offer received bids for 271.80 crore shares as against 2.24 crore shares on offer. The issue was subscribed 121 times.

 

 

The qualified institutional buyers' (QIB) portion was subscribed 258.71 times, while the non-institutional investors' (NII) category was subscribed 208.21 times. The retail individual investors' (RII) segment was subscribed 43.33 times.

 

Pranav Constructions IPO Details

 

Pranav Constructions IPO opened for subscription on September 7 and closed on September 9. The book-built offer of ₹351 crore was a mix of a fresh issue of ₹316 crore and an offer for sale of ₹35 crore. The price band for the offer was set at ₹118 to ₹124 apiece. Investors could apply for the offer in lots of 120 shares.

 

 According to the RHP, 40 per cent of the offer was reserved for QIBs, 15 per cent for NIIs and the remaining 45 per cent for the retail investors. 

 

 The fresh proceeds from the fresh share sale will be used for government approvals and redevelopment expenses, repayment of existing borrowings, funding future redevelopment projects and general corporate purposes. 

 

 It has delivered healthy growth, with revenue and PAT growing around 30–34 per cent CAGR over FY24–26. Profitability has also improved, with Ebitda margin rising to 17.2 per cent. 

 

Pranav Constructions is a Mumbai-focused real estate developer specialising in pure-play redevelopment projects, primarily in the western suburbs of the MCGM region. The company operates across economical, mid, 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.