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The Pranav Constructions IPO received a strong response from investors, with the issue subscribed 112.62 times as of 3.27 pm on the closing day of bidding.
The qualified institutional buyers (QIBs) portion was subscribed 234.87 times, while the non-institutional investors (NIIs) portion received 202.65 times subscription. The retail portion was subscribed 39.47 times.
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The real estate developer’s ₹351-crore IPO has a price band of ₹118-124 per share.
Pranav Constructions had raised ₹84.24 crore from anchor investors on Friday.
The public issue comprised a fresh issue worth ₹315.6 crore and an offer-for-sale (OFS) of 28.5 lakh equity shares worth ₹35.43 crore by investor shareholder BioUrja India Infra.