Pranav Constructions announces IPO price band, issue opens September 7. Check details

Pranav Constructions Ltd has fixed the price band for its initial public offering (IPO) at Rs 118-124 per equity share, with the issue set to open for subscription on September 7. The IPO will close on Wednesday, September 9. Investors can bid for a minimum of 120 shares and in multiples of 120 shares thereafter. At the upper end of the price band, the minimum retail application size works out to Rs 14,880. The equity shares have a face value of Rs 10 each and are proposed to be listed on both BSE and NSE.

Pranav Constructions IPO details

The IPO comprises a fresh issue of up to Rs 315.6 crore and an offer for sale of up to 28,56,869 equity shares by the investor selling shareholder, BioUrja India Infra Private Ltd. Since the issue includes a fresh issue, part of the IPO proceeds will go to the company. The offer-for-sale portion will go to the selling shareholder.


The company had 8,71,71,170 equity shares outstanding as of the date of the announcement.

About Pranav Constructions

Incorporated in 2003, Pranav Constructions is a Mumbai-based real estate company focused mainly on redevelopment projects in the Municipal Corporation of Greater Mumbai region, especially in the Western Suburbs.

The company is among the leading redevelopment players in Mumbai’s Western Suburbs, with a focus on economical, mid and mass, and aspirational homes, according to the C&W Report cited by the company.

Pranav Constructions ranked first in the MCGM region for the highest combined supply in MCGM redevelopment projects launched between CY21 and Q1 CY26. It also ranked second in the MCGM region for the highest supply in MCGM redevelopment projects launched between CY17 and Q1 CY26, according to the report.

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As of March 2026, the company’s portfolio included 65 redevelopment projects across the MCGM region. This included 28 completed redevelopment projects with a total developable area of 1.42 million sq ft, 20 under-construction redevelopment projects with a total developable area of 1.63 million sq ft, and 17 upcoming redevelopment projects with a total developable area of 1.96 million sq ft.

The company said it specialises in pure-play redevelopment and operates mainly in the Western Suburbs of Mumbai.

As part of its business model, Pranav Constructions enters into redevelopment agreements with co-operative housing societies. This helps it run its business in a capital-efficient manner, as redevelopment projects generally involve unlocking value from existing residential societies rather than acquiring large land parcels outright.

Financial details

Pranav Constructions reported revenue from operations of Rs 762 crore in FY26, compared with Rs 636 crore in FY25. Net profit rose to Rs 71 crore in FY26 from Rs 62 crore in FY25. The company’s return on capital employed stood at 24.34% in FY26, compared with 24.83% in FY25.

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

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