· Price band of ₹ 118/- to ₹ 124/- per Equity Share bearing face value of ₹ 10/- each (“Equity Shares”)
· Bid/Offer Opening Date – Monday, September 07, 2026 and Bid/Offer Closing Date – Wednesday, September 09, 2026
· Minimum Bid Lot is 120 Equity Shares and in multiples of 120 Equity Shares thereafter
Mumbai | Pranav Constructions Limited has fixed the price band of ₹ 118/- to ₹ 124/- per Equity Share of face value ₹ 10/- each for its initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, September 07, 2026, for subscription and close on Wednesday, September 09, 2026.
Investors can bid for a minimum of 120 Equity Shares and in multiples of 120 Equity Shares thereafter.
Equity shares outstanding as on date 87,171,170 Equity Shares of ₹ 10/- each.
The IPO is a fresh issue of up to ₹ 3,156.00 million and an Offer for sale of up to 2,856,869 Equity Shares of face value ₹ 10/- each by investor selling shareholder - BioUrja India Infra Private Limited.
Incorporated in 2003, the Company is a leading real estate company, based on the supply of units and number of completed and under construction MCGM - Redevelopment projects in the Western Suburbs, with a total of 1,864 units and 34 MCGM-Redevelopment projects (completed and under construction) whereas other developers have 4 to 11 MCGM - Redevelopment projects, each launched between CY17 – Q1 CY26 (Source: C&W Report).
The Company is amongst the top redevelopment companies based out of Mumbai predominantly undertaking redevelopment projects in the Western Suburbs focusing on Economical, Mid and Mass, and Aspirational homes (Source: C&W Report).
The Company ranks 1st in the MCGM Region for having the highest combined supply in MCGM – Redevelopment projects launched between CY21 and Q1 CY26 (Source: C&W Report).
The Company ranks 2nd in the MCGM Region for having the highest supply in MCGM Redevelopment projects launched between CY17 and Q1 CY26 (Source: C&W Report).
As of March 31, 2026, the Company’s portfolio included 65 Redevelopment projects across the MCGM Region, comprising (i) 28 Completed Redevelopment Projects with a combined Total Developable Area of 1.42 million square feet, (ii) 20 Under-construction Redevelopment Projects with combined Total Developable Area of 1.63 million square feet, and (iii) 17 Upcoming Redevelopment Projects with combined Total Developable Area of 1.96 million square feet.
Accordingly, the Company specializes in pure-play redevelopment with operations pre-dominantly focused in the Western Suburbs of the MCGM Region.
The Company has a proven track record of timely completion of its Completed Redevelopment Projects, with strong execution capabilities and has become a trusted and reliable brand in the Western Suburbs, resulting in strong brand recall (Source: C&W Report).
As a core aspect of its business, the Company enters into Redevelopment agreements with Co-operative Housing Societies, which enables it to conduct business in a capital efficient manner.
The Company has adopted an integrated Redevelopment model, with capabilities and in-house resources to execute Redevelopment Projects from initiation to completion. It has developed in-house competencies for every stage of the Redevelopment process comprising: (i) tendering stage, (ii) pre-construction stage, (iii) construction stage, and (iv) post-construction stage.
The Company’s revenue from operations was ₹ 7615.96 million during FY26 as compared to ₹ 6362.72 million during FY25. The Company’s net profit was ₹ 713.24 million during FY26 as against ₹ 622.54 million during FY25. The ROCE of Company was 24.34% during FY 26 as compared to 24.83% during FY25
Centrum Broking Limited (as successor to the merchant banking business of Centrum Capital Limited), and PNB Investment Services Limited are the Book Running Lead Managers, and KFin Technologies Limited is the Registrar of the Offer. The Equity Shares are proposed to be listed on NSE and BSE.
Pranav Constructions Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated August 31, 2026 with the RoC. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLMs, https://centrumbroking.com/, and https://pnbisl.com/ the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at https://www.pranavconstructions.com/. Any potential investor should note that investment in Equity Shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 18 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.
The Equity Shares offered in the Offer have not been, and will not be, registered under the U.S. Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares offered in the issue are being offered and sold only outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act (“Regulation S”).
Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Issue or the specified securities stated in the Offer Documents. The investors are advised to refer to page 396 of the RHP for the full text of the disclaimer clause of SEBI.
Disclaimer Clause of BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited, nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 399 of the RHP for the full text of the disclaimer clause of BSE.
Disclaimer Clause of NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE, nor does it certify the correctness or completeness of any of the contents of the Issue Document. The investors are advised to refer to page 399 of the RHP for the full text of the disclaimer clause of NSE
