Pranav Constructions IPO
Pranav Constructions IPO is a mainboard IPO raising ₹351 Cr at ₹118 – ₹124 a share. The smallest application you can make is 120 shares, costing ₹14,880 at the top of the band. Bidding has closed; the shares list on 15 Sept 2026. So far it has been subscribed 121× in total.
121.0 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs124. Checked: exchange issue size Rs351 Cr vs derived Rs351 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 66% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Pranav Constructions Limited | — | 33.78% | ₹8.18 |
| Keystone Realtors Limited | 64.86× | 3.34% | ₹6.21 |
| Godrej Properties Limited | 33.25× | 9.97% | ₹61.42 |
| Lodha Developers Limited (Formerly known as Macrotech Developers Limited) | 33.48× | 15.71% | ₹34.25 |
| Suraj Estate Developers Limited | 9.94× | 9.53% | ₹19.51 |
| Kolte-Patil Developers Limited | — | -3.73% | ₹-4.51 |
| Arkade Developers Limited | 482.59× | 0.6% | ₹0.29 |
| Kalpataru Limited | 56.64× | 2.45% | ₹4.76 |
| This issue | 15.2× | 33.78% | ₹8.18 |
derived: cut-off price Rs124 / stated EPS Rs8.18 (FY2026 (year ended March 31, 2026) diluted EPS, restated consolidated). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.