Pranav Constructions, a prominent Mumbai-based real estate developer, is set to launch its Initial Public Offering (IPO) on September 7, 2026. The subscription window for this significant market event will remain open for three days, closing on September 9, 2026.
Key IPO Details
The company has established a price band for its equity shares at Rs 118 to Rs 124 per share, each with a face value of Rs 10. Investors interested in participating can bid for a minimum of 120 equity shares, with subsequent bids accepted in multiples of this amount.
Issue Structure and Dates
- Opening Date: Monday, September 7, 2026
- Closing Date: Wednesday, September 9, 2026
- Price Band: Rs 118 to Rs 124 per equity share
- Face Value: Rs 10 per share
- Minimum Bid: 120 equity shares
The IPO comprises a fresh issue aimed at raising up to Rs 315.60 crore. Additionally, there will be an offer for sale of up to 2,856,869 equity shares by the investor selling shareholder, BioUrja India Infra. Centrum Capital and PNB Investment Services are serving as the book-running lead managers for the offer, with KFin Technologies appointed as the registrar.
Company Profile: Pranav Constructions
Incorporated in 2003, Pranav Constructions has established itself as a leading real estate firm, particularly within the Western Suburbs of the Municipal Corporation of Greater Mumbai (MCGM) region. The company is noted for its extensive involvement in redevelopment projects, a sector where it holds a strong position based on the supply of units and the number of completed and ongoing MCGM redevelopment initiatives.
Focus on Redevelopment
Pranav Constructions specializes in pure-play redevelopment, boasting a portfolio that included 65 redevelopment projects across the MCGM region as of March 31, 2026. This portfolio comprised 28 completed projects totaling 1.42 million square feet of developable area, 20 projects currently under construction spanning 1.63 million square feet, and 17 upcoming projects projected to cover 1.96 million square feet. The company's focus on this niche segment distinguishes it among Mumbai developers, with a significantly higher number of projects compared to many peers.
Financial Performance
The company has demonstrated robust financial growth. For the fiscal year ending March 31, 2026 (FY26), Pranav Constructions reported revenue from operations of Rs 761.596 crore, a notable increase from Rs 636.272 crore in FY25. Net profit also saw an uplift, rising to Rs 71.324 crore in FY26 from Rs 62.254 crore in the previous fiscal year. The Return on Capital Employed (ROCE) stood at 24.34 per cent in FY26, slightly down from 24.83 per cent in FY25.
Upon successful completion, the equity shares of Pranav Constructions are slated for listing on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).