Pranav Constructions IPO opens September 7 with grey market premium at 36%

Pranav Constructions opened its initial public offering today, September 7, 2026, attracting significant investor interest indicated by a 36% grey market premium. The Mumbai-based real estate developer's issue totals Rs 351.03 crore, comprising a fresh offering of 2.55 crore shares valued at Rs 315.60 crore and an offer for sale component worth Rs 35.43 crore. The price band ranges from Rs 118 to Rs 124 per share with a lot size of 120 units, requiring a minimum bid of Rs 14,880. Investor enthusiasm is further evidenced by the collection of Rs 84.24 crore from anchor investors before public subscription began. KFin Technologies Limited serves as the registrar to the offer, while Centrum Capital Ltd and PNB Investments are acting as book running lead managers. The subscription period runs through September 9, with allotment expected to finalize on September 10. Shares are tentatively scheduled for listing on both the National Stock Exchange and Bombay Stock Exchange on September 15, 2026.