Pranav Constructions IPO
UPCOMINGMAINBOARDUpcoming Issue
₹351.03 Cr
Opens
07 Sep 2026
Fresh / OFS
₹315.60 Cr / —
- Price Band
- ₹118 – ₹124
- Lot Size
- 120
- Lot Value
- ₹14,880
- Open Date
- 07 Sep 2026
- Close Date
- 09 Sep 2026
- Min Investment
- ₹14,880
IPO Timeline
Issue Opens
07 Sep 2026 · Mon
Issue Closes
09 Sep 2026 · Wed
Bidding Cut-off (UPI Mandate)
09 Sep 2026 · 5:00 PM IST
Allotment
10 Sep 2026 · Thu
Listing
15 Sep 2026 · Tue
About Pranav Constructions
Pranav Constructions Private Limited (PCPL) is a leading real estate company focused on redevelopment projects in the MCGM Region of Mumbai, with 34 completed and under construction redevelopment projects totaling 1,864 units as of March 2026. The company specializes in economical, mid, and aspirational residential housing segments in the Western Suburbs of Mumbai.
The company generates revenue from the sale of units in redevelopment projects, where it acquires properties, obtains approvals from cooperative housing societies, and develops them into residential units.
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: BSE, NSE
Strengths (6)
- •Leading real estate developer in Western Suburbs with strong pipeline and proven growth track record
- •Capital-efficient asset-light business model with high barriers to entry for competitors
- •Demonstrated project execution capabilities with in-house functional expertise across all stages
- •Established customer-centric brand with strong brand recall and robust stakeholder management
- •Consistent financial performance with experienced promoters and professional senior management team
- •Timely project completion with awards for redevelopment delivery and iconic developer recognition
Risk Factors (6)
- •First public issue with no formal market history; offer price should not be taken as indicative of post-listing market price
- •Real estate industry subject to regulatory changes, land acquisition risks, and project execution delays affecting operations
- •Dependence on key management personnel and promoters for strategic direction and operational success
- •Cyclical nature of real estate market exposed to economic downturns, interest rate changes, and demand fluctuations
- •Competitive market with numerous established players; ability to maintain market position and pricing power uncertain
- •Project completion delays, cost overruns, or quality issues could impact financial performance and investor returns
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
ANALYSIS PENDINGRating will be available once IPO opens for subscription.
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
IPO Details
| Registrar | KFin Technologies Limited |
| Exchange | BSE, NSE |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹351.03 Cr |
| Fresh Issue | ₹315.60 Cr |
| OFS Size | — |
| Lead Managers | Centrum Broking Limited, PNB Investment Services Limited |
Company Fundamentals
11 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | ₹8.72 Cr |
| Paid-up Capital | ₹8.72 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
Source: Pranav Constructions offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Pranav Constructions's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Pranav Constructions's filing.
Source: Pranav Constructions offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+40.00%
- NII / HNI+15.00%
- Retail+45.00%
OFS Selling Shareholders
- BIOURJA INDIA INFRA PRIVATE LIMITED28,56,869 sh
Source: Pranav Constructions offer document (DRHP/RHP).
Board & Management
Board of Directors (10)
- Pranav Kiran Ashar
Chairman and Managing Director
Combined experience in real estate, oil and gas, IT, metal, manufacturing, agricultural commodity trading, food processing and outsourcing industries
- Ravi Ramalingam
Whole-time Director
Combined experience of 19 years in real estate, oil and gas, IT, metal, manufacturing, agricultural commodity trading, food processing and outsourcing industries; currently on board of all Indian companies of BioUrja group
- Suneet J Desai
Whole-time Director
- Ninad N Patkar
Whole-time Director
- Pritesh Patangia
Non-Executive Director
- Sreedhar Muppala
Independent Director
Member of Institute of Chartered Accountants of India
15 years of experience in accountancy, taxation and auditing
- Gautam Gulabchand Parekh
Independent Director
Bachelor's degree in commerce from H.R. College of Commerce and Economics; Member of Institute of Chartered Accountants of India
47 years of experience in professional consultancy services
- Nihar Niranjan Jambusaria
Independent Director
Member of Institute of Chartered Accountants of India
42 years of experience in professional consultancy services
- Nina Pradip Kapasi
Independent Director
Member of Institute of Chartered Accountants of India
44 years of experience in professional consultancy services
- Harish Gopinath Kale
Independent Director
Member of Institute of Chartered Accountants of India
18 years of experience in financial consultancy in budgeting, cost controlling, monitoring and taxation
Key Managerial Personnel (3)
- Dilkhush Motilal Malesha₹0.09 Cr p.a.
Chief Financial Officer
Bachelor's degree in commerce from D.G. Ruparel College of Arts, Science and Commerce, University of Mumbai; Member of Institute of Chartered Accountants of India
14 years of experience in finance, accounting and taxation; associated with company since January 2, 2023
- Ritu Jain₹0.02 Cr p.a.
Company Secretary and Compliance Officer
Associate member of Institute of Company Secretaries of India
14 years of experience in secretarial and legal compliance; associated with company since February 11, 2019
- Akshay Prem Kripalani
Chief Sales and Marketing Officer
Bachelor's degree in management studies from Smt. Mithibai Motiram Kundnani College of Commerce and Economics, University of Mumbai; Master's degree in business administration from University of Massachusetts Global; Honours diploma in network-centered computing from NIIT
Source: Pranav Constructions offer document (DRHP/RHP).
Industry & Market
Ranked 1st in the MCGM Region for highest combined supply in MCGM – Redevelopment projects launched between CY21 and Q1 CY26; Ranked 2nd in the MCGM region for highest supply in MCGM Redevelopment projects launched between CY17 and Q1 CY26
Per Real Estate Industry Report for Pranav Constructions Limited by Cushman & Wakefield (C&W Report), a report commissioned by the company (not independent).
Use of IPO Proceeds
Total allocation: ₹237.22 Cr (excludes issue expenses)
Promoters
Pranav Kiran Ashar
Chairman and Managing Director · age 41
Pre-issue: 63.35%
Ravi Ramalingam
Whole-Time Director · age 43
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 120 | ₹14,880 |
| Retail (max) | 13 | 1,560 | ₹1,93,440 |
| S-HNI (min) | 14 | 1,680 | ₹2,08,320 |
| S-HNI (max) | 66 | 7,920 | ₹9,82,080 |
| B-HNI (min) | 67 | 8,040 | ₹9,96,960 |
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Pranav Constructions Limited | — | 8.18 | 33.78 | 28.3 |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Criminal | Promoters | 2 | 10.21 |
| Criminal | Directors | 1 | — |
| Tax | Company | 6 | 0.173 |
| Tax | Promoters | 2 | 0.013 |
| Tax | Directors | 2 | 0.002 |
The company faces material civil litigation including a suit by Pandharinath Laxman Bhandari regarding ownership and development rights of a stilt portion of a building in Laxman Tower CHSL (amount not quantifiable), and tax proceedings and other matters involving directors and promoters with aggregate amounts of ₹103.38 million against promoters and ₹117.25 million against the company. Additionally, there is a petition filed by promoter Pranav Kiran Ashar under the Hindu Marriage Act and outstanding criminal proceedings against a director.
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:KFin Technologies Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY24→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 636.27 | 62.25 | — | — | — |
| FY24 | 447.48 | 39.62 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 |
|---|---|---|
| EBITDA | 59.73 | 98.54 |
| Net Worth | 88.36 | 175.59 |
| Total Borrowings | 104.26 | 201.65 |
From the company's offer document (DRHP/RHP); restated figures where available.
GMP Trend
GMP data will appear a few days before the IPO opens.
Quick Profit Calculator
Pre-filled: Issue Price = ₹124, Lot Size = 120 shares
Number of Lots
| Lots | Investment |
|---|---|
| 1 | ₹14,880 |
| 2 | ₹29,760 |
| 3 | ₹44,640 |
| 5 | ₹74,400 |
| 10 | ₹1,48,800 |
Estimated profit based on GMP. Actual listing price may vary.
Subscription Status
Subscription data will appear once bidding begins.
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| Augmont Enterprises | 31 Aug 2026 | +21.95% |
| Tempsens Instruments (India) Limited | 28 Aug 2026 | +111.33% |
| Gaja Alternative Asset Management | 26 Aug 2026 | +15.63% |
Related IPOs
Documents
Frequently Asked Questions
When is the Pranav Constructions IPO opening?
The Pranav Constructions IPO opens on 07 Sep 2026 and closes on 09 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Pranav Constructions IPO?
The price band for the Pranav Constructions IPO is ₹118 to ₹124. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Pranav Constructions IPO?
The minimum lot size is 120 shares with a minimum investment of ₹14,880. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Pranav Constructions IPO today?
Grey Market Premium data for Pranav Constructions is not available yet. It typically starts appearing a few days before the IPO opens.
When will the Pranav Constructions IPO list on NSE and BSE?
The Pranav Constructions IPO is expected to list on 15 Sep 2026 on BSE, NSE. Actual listing day trading begins at the start of the normal market session.
How can I check the Pranav Constructions IPO allotment status?
The registrar for this IPO is KFin Technologies Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Pranav Constructions IPO a mainboard or SME issue?
Pranav Constructions is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Pranav Constructions IPO?
You can apply for the Pranav Constructions IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
Should I subscribe to Pranav Constructions IPO?
Based on our algorithmic analysis, Pranav Constructions IPO is rated UNRATED with low confidence. Rating will be available once subscription and GMP data is collected. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
Related Articles
How to Analyse an Indian IPO in Under 60 Minutes: A Retail Investor's Checklist
A practical, DRHP-first framework retail investors can use to size up an Indian IPO quickly, covering financials, valuation, peer comparison, use of proceeds and risk factors.
Read more →
How-ToHow to Read Broker and Influencer IPO Recommendations Critically
IPO tips flood social media and broker channels during every busy listing season. Here is how to tell credible analysis from paid hype, what SEBI actually requires, and the red flags worth checking before you trust any recommendation.
Read more →
How-ToHow to Analyse an Upcoming IPO in India: A 10-Step Framework for Retail Investors
A step-by-step guide to analysing an upcoming IPO in India, from reading the DRHP to comparing valuation with peers and treating grey market premium as a secondary signal.
Read more →
IPO Tools
Opening soon
Min ₹14,880