IPO Listed — 15 Sep 2026
Listing Price: ₹165
Pranav Constructions IPO GMP History | Listing Price ₹165 & Kostak Rate
Pranav Constructions IPO has been listed on September 15, 2026 at a listing price of ₹165, against the issue price of ₹124 — a gain of ₹41 (+33.06%). The GMP peaked at ₹50 on 12 September 2026 and reached a low of ₹23 on 1 September 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Pranav Constructions IPO raised ₹351.03 Cr. through its IPO at a price band of ₹118 to ₹124 per share, with a lot size of 120 shares. The IPO was open for subscription from 07 Sep 2026 to 09 Sep 2026.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 14 Sep 2026 | ₹ 45 | 36.29% | ₹ 0 | ₹ 0 | |
| 13 Sep 2026 | ₹ 45 | 36.29% | ₹ 0 | ₹ 0 | |
| 12 Sep 2026 | ₹ 50 | 40.32% | ₹ 0 | ₹ 0 | |
| 11 Sep 2026 | ₹ 44 | 35.48% | ₹ 0 | ₹ 0 | |
| 10 Sep 2026 | ₹ 48.5 | 39.11% | ₹ 0 | ₹ 0 | |
| 09 Sep 2026 | ₹ 40 | 32.26% | ₹ 0 | ₹ 0 | |
| 08 Sep 2026 | ₹ 43 | 34.68% | ₹ 0 | ₹ 0 | |
| 07 Sep 2026 | ₹ 42.5 | 34.27% | ₹ 0 | ₹ 0 | |
| 06 Sep 2026 | ₹ 44 | 35.48% | ₹ 0 | ₹ 0 | |
| 05 Sep 2026 | ₹ 41 | 33.06% | ₹ 0 | ₹ 0 | |
| 04 Sep 2026 | ₹ 37 | 29.84% | ₹ 0 | ₹ 0 | |
| 03 Sep 2026 | ₹ 31 | 25.00% | ₹ 0 | ₹ 0 | |
| 02 Sep 2026 | ₹ 27 | 21.77% | ₹ 0 | ₹ 0 | |
| 01 Sep 2026 | ₹ 23 | 0% | ₹ 0 | ₹ 0 |
Pranav Constructions IPO Dates
| Event | Date |
|---|---|
| Open Date | 07 Sep, 2026 |
| Close Date | 09 Sep, 2026 |
| Allotment Date | 10 Sep, 2026 |
| Refund Date | 11 Sep, 2026 |
| Credit to Demat | 11 Sep, 2026 |
| Listing Date | 15 Sep, 2026 |
Pranav Constructions IPO Actual Listing Price
| Basis | Value |
|---|---|
| Issue Price | ₹124 |
| GMP-Based Estimate (Pre-Listing) | ₹169 (+36.3%) |
| Actual Listing Price | ₹165 (+33.06%) |
| Listing Gain / Loss | +₹41 per share |
| Listing Date | 15 Sep, 2026 |
Is Pranav Constructions IPO GMP Reliable?
Grey market premium for Pranav Constructions IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Pranav Constructions IPO full review for a fundamentals-based assessment before making any grey market trades.
Pranav Constructions IPO IPO Kostak Rate Explained
The Kostak rate for Pranav Constructions IPO was not active during the subscription period, as no grey market premium was established. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not active for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Pranav Constructions IPO
Redevelopment means pulling down an old housing society building and constructing a new one in its place. The society members get new flats, and the developer earns from the extra flats it is allowed to build and sell. The company signs redevelopment agreements directly with co-operative housing societies, which means it does not have to buy expensive land first. It builds homes in three segments, which it calls Economical, Mid and Mass, and Aspirational.
As on 31 March 2026 its portfolio had 65 redevelopment projects across the Greater Mumbai region, made up of 28 completed projects, 20 under construction and 17 upcoming, adding up to a total developable area of about 5.01 million square feet. It handles the work in house across the stages of a project, covering tendering, pre-construction, construction and post-construction. It has been doing redevelopment work since 2012. As on 31 March 2026 it had 198 permanent employees.
Strengths & Risks
Strengths
- ✓ Profit has grown every year, from Rs 39.62 crore in FY2024 to Rs 62.25 crore in FY2025 and Rs 71.32 crore in FY2026.
- ✓ Sales have grown strongly, from Rs 449.75 crore in FY2024 to Rs 638.24 crore in FY2025 and Rs 763.93 crore in FY2026.
- ✓ EBITDA has more than doubled in two years, from Rs 59.73 crore in FY2024 to Rs 130.83 crore in FY2026.
- ✓ Return on net worth is high at 47.17%, with RoCE of 24.83% and a PAT margin of 9.78%.
- ✓ The issue is priced moderately at about 19.59 times earnings on an EPS of Rs 6.33.
- ✓ The redevelopment model is capital efficient. The company signs agreements with housing societies instead of buying costly Mumbai land upfront.
- ✓ The project pipeline is large and visible, with 65 projects covering about 5.01 million square feet, of which 20 are under construction and 17 upcoming.
- ✓ It has a long record, having been set up in 2003 and doing redevelopment work since 2012, and handles tendering through to post-construction with its own teams.
- ✓ Net worth grew from Rs 88.37 crore in FY2024 to Rs 246.70 crore in FY2026, and Rs 91.50 crore of the issue money will repay borrowings.
Risks
- ⚠ Borrowing has risen steadily and is now higher than the own funds. It went from Rs 99.34 crore in FY2024 to Rs 196.50 crore in FY2025 and Rs 258.44 crore in FY2026, against a net worth of Rs 246.70 crore.
- ⚠ Profit is growing slower than sales. In FY2026 income rose 20% but profit after tax rose only 15%, so the margin has come down a little.
- ⚠ Redevelopment depends on many approvals. Government and statutory clearances, extra FSI and the consent of society members can each hold up a project for a long time.
- ⚠ The company has to pay society members for alternate accommodation and hardship while the new building comes up. Rs 145.72 crore of the issue money is set aside for redevelopment expenses of this kind, which is cash going out well before any flat is sold.
- ⚠ The whole business is in one market, the Greater Mumbai region with a focus on the Western Suburbs. Any slowdown, policy change or rule change in that one market affects everything.
- ⚠ A part of the money is for acquiring future redevelopment projects along with general corporate purposes, and no specific project has been named.
- ⚠ This is a fresh issue combined with an offer for sale, so a part of the money goes to the selling shareholders and not to the company.
- ⚠ Promoter holding falls from 63.35% to 48.54% after the issue, which leaves the promoters below a half share.
- ⚠ Real estate demand moves with interest rates. A rise in home loan rates slows bookings and delays cash coming in.
Frequently Asked Questions about Pranav Constructions IPO
What is the GMP of Pranav Constructions IPO?
The current Grey Market Premium (GMP) of Pranav Constructions IPO is ₹ 45.
What is the Kostak Price of Pranav Constructions IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Pranav Constructions IPO is currently not available.
What is the Subject to Sauda Price of Pranav Constructions IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What was the actual listing price of Pranav Constructions IPO?
Pranav Constructions IPO listed on September 15, 2026 at ₹165, against the issue price of ₹124 — a gain of +33.06%.
How did the GMP of Pranav Constructions IPO trend before listing?
The GMP of Pranav Constructions IPO was stable in its final days before listing. The GMP peaked at ₹50 on 12 September 2026. View the day-wise table above for the complete GMP history.
Explore Pranav Constructions IPO Further
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