Pranav Constructions IPO GMP Hits Rs. 44 After Issue Opens; 35% Listing On Cards; Should You Apply?

The Pranav Constructions IPO GMP surged sharply after the public issue opened for subscription this morning on Monday, September 7th. According to the current GMP data by Investorgain website, the IPO is trading at a premium of Rs. 44 per share.

Pranav Constructions IPO will be available for bidding till September 10th. The IPO is worth Rs. 351.03 crore and comprises a fresh issue of 2.55 crore shares worth Rs. 315.60 crore, while the offer for sale (OFS) component consists of 28.57 lakh shares worth Rs .35.43 crore.
The price Band for the IPO has been set at Rs.118 to Rs. 124 per share.

Pranav Constructions IPO Lot Size, Minimum Investment

The Pranav Constructions IPO lot size is 120 shares. Retail investors applying at the upper price band of Rs. 124 per share will therefore need a minimum investment of Rs. 14,880.

Listing Estimate As Per Pranav Constructions IPO GMP

Based on the latest GMP and the upper end of the IPO price band, the Pranav Constructions IPO estimated listing price stands at Rs. 168 per share, compared with the issue's upper price of Rs. 124. Investors can expect a listing gain of around 35.48%. However, it should be noted that GMP is an unofficial data and does not guarantee the actual listing price.

.Pranav Constructions IPO Allotment Date & Listing Schedule

As per the tentative schedule, the allotment of Pranav Constructions shares is expected to be completed on September 10th. Those who have invested can check their allotment status after it is announced through the registrar and NSE/BSE platforms. Post that the shares are proposed to be listed on both the NSE and BSE, with the tentative listing date scheduled for September 15th.

Should You Apply To Pranav Constructions IPO?

The IPO has received a modest response from brokerages, in its IPO note Swastika investmart has given an APPLY rating to the IPO.

The brokerage said, "The company has a strong presence in Mumbai's Western Suburbs, with an asset-light redevelopment model that keeps costs under control. It has delivered healthy growth, with revenue and PAT growing around 30-34% CAGR over FY24-26. Profitability has also improved, with EBITDA margin rising to 17.2%. At around 18.8-19.6x P/E, the IPO valuation looks attractive compared with listed peers. The key risk is its high dependence on one geographic market, along with execution and regulatory risks. We recommend subscribing; attractive for long-term investors and listing gains, but conservative investors should maintain prudent position sizing."

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