Pranav Constructions IPO Day 2 Subscription: Issue Subscribed 18.20x
Quick Snapshot
| Particulars | Details |
|---|---|
| Price Band | Rs.118 – Rs.124 |
| Lot Size | 120 shares per body text |
| Issue Size | Rs.351.03 crore |
| Overall Subscription | 18.20x |
| IPO Open Date | August 27, 2026 |
| IPO Close Date | August 29, 2026 |
| Tentative Listing Date | September 3, 2026 |
Pranav Constructions IPO Subscription Update
The Pranav Constructions IPO has attracted considerable investor interest on Day 2 of the bidding process. As per the latest figures, investors have placed bids for 40,87,63,680 shares against 2,24,63,137 shares offered, taking the overall subscription to 18.20x times.
Among the different categories, Non-Institutional Investors (NIIs) recorded the highest subscription at 43.75x, with bids for around 19,42,50,480 shares against approximately 44,40,395 shares reserved for the category.
The retail investor portion was subscribed 15.75x, receiving bids for around 20,98,15,920 shares against approximately 1,33,21,184 shares available. While the QIB category was subscribed 1.00x, indicating limited participation from qualified institutional buyers at this stage.
| Sr. No. | Category | No. of Times of Total Meant for the Category |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 1.00x |
| 2 | Non-Institutional Investors (NIIs) | 43.75x |
| 3 | Retail Individual Investors (RIIs) | 15.75x |
| - | Total | 18.20x |
Pranav Constructions Overview & Purpose
Pranav Constructions is offering a Rs.351.03 crore book-built issue, comprising a fresh issue of Rs.315.60 crore and an OFS of 28.57 lakh equity shares worth Rs.35.43 crore by BioUrja India Infra Private Limited. The IPO is priced in the range of Rs.118–Rs.124 per share, with a minimum lot size of 120 shares.
The Company plans to utilise the fresh issue proceeds towards government and statutory approvals, purchase of additional FSI, alternate accommodation and hardship compensation related to certain redevelopment projects. A portion of the proceeds will also be used for debt repayment, acquisition of future redevelopment projects and general corporate purposes.
Price-wise Bid Details
| Price | Cumulative Quantity |
|---|---|
| Cut-Off | 17,99,00,280 |
| 124 | 40,76,06,280 |
| 123 | 40,76,51,640 |
| 122 | 40,76,98,800 |
| 121 | 40,77,17,160 |
| 120 | 40,78,64,160 |
| 119 | 40,78,79,040 |
| 118 | 40,78,79,040 |
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should review the IPO documents and assess the company's financials, risks and valuation before making any investment decision.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
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