According to NSE data, investors placed bids for around 2,71,80,43,800 equity shares, against 2,24,63,137 shares on offer. Qualified institutional buyers (QIBs) led the demand with 258.71 times subscription, followed by non-institutional investors (NIIs) at 208.21 times and retail investors at 43.33 times.
The IPO opened on September 7 and closed on September 9. The price band was fixed at Rs 118-124 per share, with a lot size of 120 shares, requiring a minimum investment of Rs 14,880 at the upper price band. The shares are scheduled to list on the BSE and NSE on September 15.
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The grey market premium for Pranav Constructions stood at Rs 40 per share on September 9, according to InvestorGain. At the upper end of the IPO price band of Rs 124, this implies an estimated listing price of Rs 164 and a potential gain of 32.26 percent.
GMP is an unofficial indicator based on activity in the unregulated grey market and can change before listing. It should not be treated as a guarantee of listing gains.