Pranav Constructions IPO Day 1: Subscribed 4.55x, NIIs lead demand — The real estate developer had raised ₹84.24 crore from anchor investors ahead of the IPO.
The company allocated 67.94 lakh equity shares at ₹124 apiece to anchor investors, according to a circular uploaded on the BSE website.
Investors participating in the anchor round included Goldman Sachs Investments (Mauritius) Ltd, ITI Mutual Fund, Taurus Mutual Fund, Abudantia Capital VCC and Ashika India Select Fund.
Pranav Constructions has fixed the price band at ₹118-124 per share for its over ₹351-crore IPO. The issue opened for subscription on September 7 and will close on September 9.
The IPO comprises a fresh issue worth ₹315.6 crore and an offer-for-sale of 28.5 lakh equity shares worth ₹35.43 crore by investor shareholder BioUrja India Infra.
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