Pranav Constructions IPO allotment today: GMP at 32%; check status on BSE, NSE and registrar

According to fresh market updates, The allotment of shares in Pranav Constructions' Rs 351.03-crore initial public offering (IPO) is anticipated to be finalised today, September 10, after the Mumbai-based real estate developer's offering was subscribed 121 times on the final day of bidding.

According to NSE data, market participants placed bids for around 2,71,80,43,800 equity shares, against 2,24,63,137 shares on offer. Qualified institutional buyers (QIBs) led the demand with 258.71 times subscription, followed by non-institutional market participants (NIIs) at 208.21 times and retail market participants at 43.33 times.

The IPO opened on September 7 and closed on September 9. The price range was set at Rs 118-124 per share, with a lot size of 120 shares, requiring a minimum investment of Rs 14,880 at the upper price range. The shares are scheduled to list on the BSE and NSE on September 15.

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The grey market premium for Pranav Constructions stood at Rs 40 per share on September 9, according to InvestorGain. At the upper end of the IPO price range of Rs 124, this implies an estimated stock-exchange debut price of Rs 164 and a potential gain of 32.26 percent.

GMP is an unofficial indicator based on activity in the unregulated grey market and can change before stock-exchange debut. It should not be treated as a guarantee of stock-exchange debut upside.

How to check Pranav Constructions IPO allotment status

Market participants can check their allotment status through KFin Technologies, the registrar to the offering, as well as the BSE and NSE websites. The tentative allotment date is September 10, with refunds and demat credit scheduled for September 11.

Pranav Constructions IPO allotment status via KFin Technologies

Step 1. Visit the KFin Technologies IPO allotment status page at https://ipostatus.kfintech.com/

Step 2. Select Pranav Constructions from the IPO list.

Step 3. Enter your PAN, application number or demat account details.

Step 4. Submit the details to view the allotment status.

Pranav Constructions IPO allotment status via BSE

1. Visit the BSE IPO application status page at https://www.bseindia.com/market participants/appli_check

2. Select Equity as the offering type.

3. Select Pranav Constructions from the offering name.

4. Enter your PAN or application number.

5. Submit the details to check whether shares have been allotted.

Pranav Constructions IPO allotment status via NSE

Step 1. Visit the NSE IPO bid details page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 2. Select the relevant equity IPO option.

Step 3. Choose PRANAV as the symbol.

Step 4. Enter the required application details and submit to view the bid/allotment status.

Ahead of the IPO, Pranav Constructions boosted Rs 84.24 crore from anchor market participants, with 67.94 lakh shares allotted at Rs 124 apiece. Goldman Sachs Investments (Mauritius) was among the largest participants, while domestic mutual funds including ITI Mutual Fund and Taurus Mutual Fund additionally participated.

The IPO comprises a fresh offering of Rs 315.60 crore and an offer-for-sale (OFS) of Rs 35.43 crore by existing shareholders.

The firm plans to deploy around Rs 145.7 crore from the fresh offering towards redevelopment expenses. Another Rs 91.5 crore is earmarked for debt repayment, with the remaining funds intended for general corporate purposes.

The redevelopment expenditure will cover government and statutory approvals, acquisition of additional floor space index (FSI), and compensation for alternate accommodation and hardship faced by members in ongoing and scheduled redevelopment projects.

Pranav Constructions noted a 14.6 percent gain in earnings to Rs 71.3 crore in FY26, compared with Rs 62.3 crore in FY25. Topline from operations rose 19.7 percent to Rs 761.6 crore from Rs 636.3 crore a year earlier.

The firm had noted topline of Rs 447.48 crore and earnings of Rs 39.62 crore in FY24, highlighting the expansion in its business during the past two financial years.

Pranav Constructions is a Mumbai-based real estate developer focused on redevelopment projects, primarily in the city's western suburbs and the broader Mumbai Municipal Corporation region.

The firm has a portfolio of 65 redevelopment projects, of which 28 have been completed and 20 are under construction. Another 17 projects are in the upcoming pipeline. Its ongoing projects have a total developable area of around 1.63 million square feet, while the upcoming projects cover around 1.96 million square feet.

Centrum Broking and PNB Investment Services are the book-running lead managers, while KFin Technologies is the registrar to the offering.