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Real estate developer Pranav Constructions has set the price band for its ₹351-crore initial public offering (IPO) at ₹118–124 per share. The public issue will open for subscription on September 7 and close on September 9, while the anchor investor bidding is scheduled for February 4. The public issue has been structured as a combination of a fresh equity issuance and an offer for sale (OFS), taking the total IPO size to ₹351 crore. The fresh issue will aggregate to ₹315.6 crore. Meanwhile, investor shareholder BioUrja India Infra will sell 28.57 lakh equity shares through the OFS component, valued at ₹35.43 crore, the company said. Investors will be required to apply for at least 120 shares, with subsequent bids permitted in multiples of 120 shares. At the upper end of the price band, a retail investor will need to invest a minimum of ₹14,880. Each equity share carries a face value of ₹10. The shares are proposed to be listed on both the BSE and NSE. According to the red herring prospectus, the company plans to deploy the proceeds from the fresh issue towards several redevelopment-related requirements. These include obtaining government and statutory approvals, purchasing additional floor space index (FSI), providing alternate accommodation compensation to members, and meeting hardship compensation requirements for certain under-construction and upcoming redevelopment projects. A portion of the funds will also be used to repay debt and acquire future redevelopment projects. The remaining proceeds will be allocated towards general corporate expenses. Centrum Capital and PNB Investment Services are acting as the book-running lead managers for the issue. The company's equity shares are proposed to be listed on the BSE and NSE. Pranav Constructions has built a strong presence in Mumbai's redevelopment market, with a particular focus on projects within the Municipal Corporation of Greater Mumbai (MCGM) region and the city's western suburbs. Its redevelopment portfolio spans housing categories ranging from economical and mid-market homes to mass and aspirational residential projects. As of March 2026, the company had a portfolio of 65 redevelopment projects across the MCGM region. Of these, 28 projects had already been completed, accounting for a total developable area of 1.42 million sq ft. Another 20 projects, with a combined developable area of 1.63 million sq ft, were under construction. The remaining 17 upcoming projects represented a developable area of 1.96 million sq ft. The company's financial performance also improved in FY26. Revenue from operations increased to ₹762 crore from ₹636 crore in FY25, while net profit rose to ₹71 crore from ₹62 crore a year earlier. Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions. Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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