Pranav Constructions IPO Day 3: Issue Subscribed 121.18 on Final Day
Pranav Constructions IPO saw strong demand on its final day, with investors bidding for 1,21,63,22,400 shares against 47,01,558 shares offered, resulting in an overall subscription of 258.71 times.
The NII category recorded the highest demand at 208.21, with bids for around 92,45,49,840 crore shares against 44,40,395 crore shares reserved. The retail portion was subscribed 43.33 receiving bids for approximately 57,71,71,560 crore shares against 1,33,21,184 crore shares offered.
Pranav Constructions IPO Subscription Details
| Sr. No. | Category | No. of Times of Total Meant for the Category |
|---|---|---|
| 1. | Qualified Institutional Buyers (QIBs) | 258.71 |
| 2. | Non-Institutional Investors | 208.21 |
| 3. | Retail Individual Investors (RIIs) | 43.33 |
| - | Total | 121.00 |
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.
Pranav Constructions IPO Price and Cumulative Quantity
| Price | Cumulative Quantity |
|---|---|
| Cut-Off | 30,78,73,680 |
| 124 | 84,07,17,360 |
| 123 | 84,07,99,800 |
| 122 | 84,09,21,600 |
| 121 | 84,09,52,920 |
| 120 | 84,12,05,040 |
| 119 | 84,12,33,720 |
| 118 | 84,36,19,680 |
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)
Other News
Glass Wall Systems IPO Subscription Update: Issue Subscribed 8.24x on Day 2
The Glass Wall Systems (India) IPO continued to attract strong investor interest on Day 2 of bidding. As per the latest subscription data shared, the issue was subscribed 3.75 times overall. The Retail Individual Investors (RII) category led the demand with a 5.38x subscription, followed by Non-Institutional Investors (NII) at 4.90x. The QIB portion was subscribed at 0.02x.
Kanohar Electricals IPO Subscription Update: Issue Subscribed 2.70x on Day 2
The Kanohar Electricals IPO continued to attract strong investor interest on Day 2 of bidding. As per the latest subscription data, the issue was subscribed 2.70 times overall, with Non-Institutional Investors (NIIs) leading the demand at 4.87x, followed by Retail Individual Investors at 3.29x. The QIB portion was subscribed 0.03x. The IPO opened on September 8 and will remain open until September 10, 2026.
Rentomojo IPO Subscription Update: Issue Subscribed 1.42x on Day 1
The Rentomojo IPO received a strong response from investors on the first day of bidding, with the issue fully subscribed. The IPO, which opened on September 9, will remain open for subscription until September 11. The company has fixed the price band at Rs.384 to Rs.404 per share.