Pranav Constructions Limited IPO
Mainboard · Allotment
Important dates
- Open
- Close
- Allotment
- –
- Refunds
- –
- Credit to demat
- –
- Listing
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Pranav Constructions Limited — DRHP summary
Plain-English breakdown extracted from the prospectus.
Pranav Constructions Limited is a Mumbai-based real estate developer focused on MCGM redevelopment projects in the Western Suburbs, and is raising funds via an IPO comprising a fresh issue of equity shares aggregating up to ₹3,156.00 million (~₹315.6 crore) and an offer for sale of up to 2,856,869 equity shares by selling shareholder BioUrja India Infra Private Limited. The fresh issue proceeds will primarily fund redevelopment project costs, repay/prepay certain borrowings, and fund future project acquisitions and general corporate purposes, while the OFS portion will not bring proceeds to the company.
Use of proceeds
| Purpose | Amount |
|---|---|
| Funding costs for government/statutory approvals, additional FSI purchase, and compensation to society members for under-construction and upcoming redevelopment projects | ₹146 Cr |
| Repayment or pre-payment, in full or part, of certain outstanding borrowings | ₹92 Cr |
| Funding acquisition of future redevelopment projects and general corporate purposes | – |