Pranav Constructions launches ₹351cr IPO at ₹118-124 today 120-share minimum
Pranav Constructions is launching its IPO today, aiming to raise ₹351 crore with shares priced between ₹118 and ₹124.
You'll need to buy at least 120 shares if you want in, and the offer wraps up this Wednesday.
The IPO includes both new shares and some being sold by an existing investor.
Pranav Constructions funds Mumbai redevelopment, debt
The money raised will help fund the company's Mumbai redevelopment projects and pay off some debt.
Pranav Constructions is already handling 34 MCGM redevelopment projects across Mumbai's western suburbs, and big brokerages like SBI Securities say their strong pipeline and supporting cash flows and capital efficiency make this IPO worth considering.
The company has a strong pipeline of 37 projects, and analysts point to their solid finances and market position as reasons for their upbeat outlook.