Overview
- The company opened its IPO on Monday, September 7, with a price band of Rs 118–124 and an issue size of about Rs 351 crore.
- By midday on Monday the book was subscribed 2.56 times, with non‑institutional and retail investors supplying most of the bids.
- The offer comprises a fresh issue of about 2.55 crore shares plus an offer‑for‑sale of 28.57 lakh shares and will fund redevelopment approvals, buy additional FSI, provide alternate accommodation and pare debt.
- Pranav completed anchor allocations totalling roughly Rs 84.24 crore at Rs 124 a share to institutional investors including Goldman Sachs Investments (Mauritius).
- Brokers generally rate the listing a 'subscribe' because of strong pre‑sales, an asset‑light model and rising margins, but they warn of concentrated Mumbai exposure, execution and regulatory risks and note the unofficial grey‑market premium of Rs 44–45 can change quickly.