Mumbai-based real estate company Pranav Constructions will launch its maiden public issue on September 7, comprising a fresh issue of shares worth ₹315.6 crore. According to reports from Moneycontrol, the IPO also includes an offer for sale (OFS) of 28.56 lakh shares by investor BioUrja India Infra. The price band for the offer will be announced separately in the next couple of sessions, with the anchor book opening for a day on September 4 and the issue remaining open for public subscription until September 9.
Pranav Constructions, which undertakes redevelopment projects in Mumbai's western suburbs, has completed 28 redevelopment projects with a total developable area of 1.42 million square feet as of March 2026. As reported by Moneycontrol, the company also has 20 under-construction redevelopment projects with a developable area of 1.63 million square feet and 17 upcoming redevelopment projects with a developable area of 1.96 million square feet. The company intends to utilize ₹145.7 crore of the net proceeds from the fresh issue to fund redevelopment expenses, including costs related to obtaining government and statutory approvals, purchasing additional floor space index (FSI), and compensating members for alternative accommodation.
Further, ₹91.5 crore will be utilized to repay debt against outstanding indebtedness of ₹236.2 crore as of July 15, 2026. According to Moneycontrol, the remaining amount will be set aside for the acquisition of future redevelopment projects and general corporate purposes. The IPO share allotment is likely to be finalized by September 10, while Pranav Constructions shares are expected to be available for trading on the bourses from September 15.
On the financial front, the real estate developer reported a profit of ₹71.3 crore for the year ended March 2026, up 14.6 percent from ₹62.3 crore in the previous year. As reported by Moneycontrol, revenue during the same period increased 19.7 percent to ₹761.6 crore from ₹636.3 crore. Centrum Broking and PNB Investment Services have been appointed as the merchant bankers for the Pranav Constructions IPO.
