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Thu, 10 Sept 2026
10:11:21 am
Thu, 10 Sept 2026
10:11:21 am
Rudransh Sangwan
Published at: September 10, 2026, 5:06 AM
Synopsis
Pranav Constructions IPO allotment is expected on September 10 after 121x subscription. Check the ₹40 GMP, ₹164 implied listing price, allotment process and September 15 listing date.
Pranav Constructions IPO allotment is expected to be finalised today, September 10, 2026, after the ₹351.03 crore issue received strong demand during its three-day bidding period. The IPO opened on September 7 and closed on September 9, with shares scheduled to list on the BSE and NSE on September 15, 2026.
The latest Pranav Constructions IPO GMP is ₹40 as of September 10, 2026, at 10:01 AM. With the upper price band of ₹124, the estimated listing price is ₹164, indicating a potential premium of 32.26%. GMP is unofficial and can change before listing.
The Pranav Constructions IPO today GMP today is ₹40. At the upper issue price of ₹124, the estimated listing price works out to ₹164, suggesting a potential gain of ₹40 per share or 32.26%.
The grey-market premium has remained at ₹40 since September 9 after reaching ₹44 on September 6. The GMP moved up significantly from ₹23 on September 1 to ₹40 on September 10.
| GMP Date | IPO Price | GMP | Subscription | Est. Listing Price | Est. Profit | Last Updated |
|---|---|---|---|---|---|---|
| 10-Sep-2026 Allotment | ₹124 | ₹40 ─ | 126.34x | ₹164 (32.26%) | ₹4,800 | 10-Sep-2026 10:01 |
| 09-Sep-2026 Close | ₹124 | ₹40 ▼ | 126.34x | ₹164 (32.26%) | ₹4,800 | 9-Sep-2026 23:33 |
| 08-Sep-2026 | ₹124 | ₹43 ▲ | 19.13x | ₹167 (34.68%) | ₹5,160 | 8-Sep-2026 23:31 |
| 07-Sep-2026 Open | ₹124 | ₹42.5 ▼ | 6.03x | ₹166.5 (34.27%) | ₹5,100 | 7-Sep-2026 23:34 |
| 06-Sep-2026 | ₹124 | ₹44 ▲ | - | ₹168 (35.48%) | ₹5,280 | 6-Sep-2026 23:34 |
| 05-Sep-2026 | ₹124 | ₹41 ▲ | - | ₹165 (33.06%) | ₹4,920 | 5-Sep-2026 23:34 |
| 04-Sep-2026 | ₹124 | ₹37 ▲ | - | ₹161 (29.84%) | ₹4,440 | 4-Sep-2026 23:32 |
| 03-Sep-2026 | ₹124 | ₹31 ▲ | - | ₹155 (25.00%) | ₹3,720 | 3-Sep-2026 23:37 |
| 02-Sep-2026 | ₹124 | ₹27 ▲ | - | ₹151 (21.77%) | ₹3,240 | 2-Sep-2026 23:31 |
| 01-Sep-2026 | ₹0 | ₹23 ─ | - | ₹23 (0.00%) | ₹0 | 1-Sep-2026 23:34 |
Estimated Profit/Loss per lot = GMP × 120 shares.
Pranav Constructions IPO received very strong demand during the bidding period. Moneycontrol reported that the issue was subscribed 121 times on the final day, with QIBs subscribing 258.71 times, NIIs 208.21 times and retail investors 43.33 times.
The latest InvestorGain data provided shows overall subscription at 126.34x. The difference reflects the subscription data reported by different sources and timestamps.
The Pranav Constructions IPO allotment date is September 10, 2026. Investors who applied for the issue can check whether shares have been allotted through the IPO registrar, KFin Technologies, or through the BSE and NSE application-status facilities.
Refunds and demat credit are scheduled for September 11, while the shares are expected to list on September 15, 2026.
Investors can check their Pranav Constructions IPO allotment status through KFin Technologies, the registrar to the issue.
Steps to check through KFin Technologies:
Investors can also check the application status through the BSE and NSE IPO status platforms using the required application details.
| IPO Metric | Details |
|---|---|
| IPO Dates | September 7 to September 9, 2026 |
| Price Band | ₹118 to ₹124 |
| Issue Price | ₹124 |
| Face Value | ₹10 per share |
| Lot Size | 120 shares |
| Minimum Investment | ₹14,880 |
| Total Issue Size | ₹351.03 crore |
| Fresh Issue | ₹315.60 crore |
| Offer for Sale | ₹35.43 crore |
| Issue Type | Mainboard |
| Listing | BSE, NSE |
| Allotment Date | September 10, 2026 |
| Refund/Share Credit | September 11, 2026 |
| Listing Date | September 15, 2026 |
The Pranav Constructions IPO lot size is 120 shares. At the upper price band of ₹124, one lot requires a minimum investment of ₹14,880.
Retail investors can apply for up to 13 lots, or 1,560 shares, requiring ₹1,93,440 at the upper price band.
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 1 | 120 | ₹14,880 |
| Retail Maximum | 13 | 1,560 | ₹1,93,440 |
| S-HNI Minimum | 14 | 1,680 | ₹2,08,320 |
| S-HNI Maximum | 67 | 8,040 | ₹9,96,960 |
| B-HNI Minimum | 68 | 8,160 | ₹10,11,840 |
Pranav Constructions is a Mumbai-based real estate developer focused mainly on redevelopment projects in the Mumbai Municipal Corporation region, particularly the Western Suburbs.
The company had 65 redevelopment projects as of March 31, 2026. Of these, 28 projects were completed, 20 were under construction and 17 were in the upcoming pipeline.
Pranav Constructions plans to use around ₹145.72 crore from the fresh issue for redevelopment-related expenditure. This includes government and statutory approvals, acquisition of additional FSI and compensation for alternate accommodation and hardship faced by members.
Another ₹91.50 crore is earmarked for repayment or prepayment of borrowings. The remaining funds will be used for future redevelopment projects and general corporate purposes.
Pranav Constructions reported steady growth over the last three financial years. Total income increased from ₹449.75 crore in FY24 to ₹763.93 crore in FY26, while PAT rose from ₹39.62 crore to ₹71.32 crore.
The company reported FY26 EBITDA of ₹130.83 crore and net worth of ₹246.70 crore. Borrowings increased to ₹258.44 crore in FY26 from ₹196.50 crore in FY25.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Assets | ₹1,799.19 Cr | ₹1,246.29 Cr | ₹966.80 Cr |
| Total Income | ₹763.93 Cr | ₹638.24 Cr | ₹449.75 Cr |
| PAT | ₹71.32 Cr | ₹62.25 Cr | ₹39.62 Cr |
| EBITDA | ₹130.83 Cr | ₹98.54 Cr | ₹59.73 Cr |
| Net Worth | ₹246.70 Cr | ₹175.59 Cr | ₹88.37 Cr |
| Reserves & Surplus | ₹159.52 Cr | ₹88.41 Cr | ₹84.70 Cr |
| Total Borrowing | ₹258.44 Cr | ₹196.50 Cr | ₹99.34 Cr |
At the upper price band of ₹124, the Pranav Constructions IPO has a post-issue market capitalisation of around ₹1,396.52 crore. The FY26 EPS is ₹8.18, resulting in a P/E multiple of 15.16x.
The company reported FY26 ROE of 33.78%, ROCE of 24.34%, PAT margin of 9.37% and debt-to-equity of 1.08x.
| Metric | FY26 | FY25 |
|---|---|---|
| EPS | ₹8.18 | ₹6.33 |
| P/E | 15.16x | 19.59x |
| Market Cap | ₹1,396.52 Cr | ₹1,081 Cr |
| ROE | 33.78% | 47.17% |
| ROCE | 24.34% | 24.83% |
| Debt/Equity | 1.08x | 1.15x |
| PAT Margin | 9.37% | 9.78% |
| EBITDA Margin | 17.18% | 15.49% |
| NAV | ₹28.30 | — |
Pranav Constructions IPO raised around ₹84.24 crore from anchor investors before the IPO opened. A total of about 67.94 lakh shares were allotted to anchor investors at ₹124 per share.
The anchor portion included institutional investors, with Goldman Sachs Investments (Mauritius) among the participants, along with domestic mutual funds such as ITI Mutual Fund and Taurus Mutual Fund.
Pranav Constructions has a focused redevelopment business with a sizeable project pipeline in Mumbai. Its revenue and profit have grown over the past three years, while the IPO proceeds are also intended to support redevelopment expenditure and reduce borrowings.
Investors should nevertheless consider the company's exposure to project execution, redevelopment approvals, working-capital requirements and borrowings. The strong subscription and GMP indicate high market interest, but GMP should not be treated as a guarantee of listing gains.
Pranav Constructions shares are scheduled to list on September 15, 2026, on the BSE and NSE. Based on the latest GMP of ₹40 and the upper issue price of ₹124, the estimated listing price is ₹164.
The indicative gain at this GMP is ₹40 per share, or 32.26%, while the estimated gain for one 120-share lot is ₹4,800.
The latest Pranav Constructions IPO GMP is ₹40 as of September 10, 2026, at 10:01 AM.
Based on the ₹40 GMP and ₹124 upper price band, the estimated listing price is ₹164 per share.
Pranav Constructions IPO allotment is expected on September 10, 2026.
Investors can check the allotment through KFin Technologies, the IPO registrar, or through the BSE and NSE application-status platforms.
The lot size is 120 shares.
The minimum investment is ₹14,880 for one lot at the upper price band of ₹124.
The latest provided InvestorGain data shows overall subscription of 126.34x, while Moneycontrol reported subscription of around 121x based on NSE data.
Pranav Constructions shares are scheduled to list on September 15, 2026, on the BSE and NSE.
The total IPO size is ₹351.03 crore, comprising a ₹315.60 crore fresh issue and a ₹35.43 crore offer for sale.
No. GMP is based on unofficial grey-market activity and can change before listing. It should only be considered an indicative market signal and not a guarantee of listing gains.
Disclaimer: IPO GMP is unofficial and may change at any time. The estimated listing price and potential returns based on GMP are indicative only and do not guarantee actual listing performance. Investors should evaluate the company's financials, risks and valuation before making any investment decision.
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