IPO
Realtor Pranav Constructions’s Rs.351-Cr IPO subscribed 121 times
Business Line Business Standard Pranav Constructions
The initial public offering (IPO) of Mumbai-based Pranav Constructions was subscribed 121 times by the close of the bidding period. The offering includes a fresh issue of shares worth INR 315.6 crore and an offer-for-sale (OFS) of equity shares worth INR 35.43 crore by investor shareholder BioUrja India Infra.The qualified institutional buyers portion was subscribed 258.71 times, while the non-institutional investors portion saw a subscription of 208.21 times. The retail portion of the issue was subscribed 43.33 times. Earlier, the firm had raised INR 84.24 crore from anchor investors.Founded in 2003 by late Kiran Ashar, Pranav Constructions operates as a real estate developer.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
