Pranav Constructions IPO subscription reaches 18.21x on final day
Retail Investor participation is robust at 15.77x, with grey market premium rising to 35%. Allotment finalization is expected on September 10.
The IPO process for Pranav Constructions concludes on September 9, 2026. Investor interest remains strong, reflected in a subscription rate of 18.21 times the shares offered. Grey market sentiment supports this activity, with the grey market premium increasing to 35%. Retail Individual Investors subscribed at 15.77 times the portion reserved for them. The company has raised Rs 84.24 crore from anchor investors prior to the public offering. Bids received total 1.33 crore shares. Center Capital Ltd serves as the book-running lead manager, while Kfin Technologies Ltd acts as the registrar. The public issue involves 2.55 crore fresh shares valued at Rs 315.60 crore and an offer for sale of 28.57 lakh shares aggregating Rs 35.43 crore. The price band is fixed between Rs 118 and Rs 124 per share. Allotment details are expected to be finalized on September 10, 2026, with the stock tentatively listing on the NSE and BSE on September 15, 2026. Applications remain open until midnight on September 9.
