Pranav Constructions stock lists at 33 per cent premium on debut

Representational Image. File pic.

Shares of real estate developer Pranav Constructions Ltd on Tuesday listed with a strong premium of 33 per cent against the issue price of Rs 124.

The stock started trading at Rs 162, registering a jump of 30.64 per cent from the issue price on the BSE. At the NSE, the stock listed at Rs 165, a premium of 33 per cent.

The company's market valuation stood at Rs 1,520.97 crore.

Pranav Constructions' Rs 351-crore IPO was subscribed 121 times on the final day of bidding on Wednesday last week.

The company's IPO was open for subscription from September 7-9 with a price band of Rs 118-124 per equity share.
Pranav Constructions Ltd had raised Rs 84.24 crore from anchor investors.

The company is a real estate developer focused on the Municipal Corporation of Greater Mumbai redevelopment segment in Mumbai's western suburbs.

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