Mumbai: Pranav Constructions Limited, a leading real estate developer in Mumbai’s western suburbs based on the supply of units and the number of completed and under-construction MCGM redevelopment projects, has raised Rs 84.24 crore from anchor investors ahead of its initial public offering (IPO), which will open for public subscription on September 7, 2026.

The company informed the stock exchanges that it has allocated 67,94,034 equity shares at Rs 124 per share to anchor investors.

Several marquee institutional investors participated in the anchor book, including Goldman Sachs Investments (Mauritius) Limited, Abudantia Capital VCC – Abudantia Capital III, ASAS Global Fund Incorporated VCC Sub Fund, Ashika India Select Fund, and The Asio Fund VCC – Sub Fund 4.

Among equity-oriented mutual fund schemes, Pranav Constructions allocated shares to ITI Mid Cap Fund and Taurus Flexi Cap Fund, among others.

Of the total 67,94,034 equity shares allocated to anchor investors, 19,75,680 shares were allotted to two domestic mutual funds through seven schemes.

Centrum Broking Limited and PNB Investment Services Limited are acting as the book-running lead managers to the issue, while KFin Technologies Limited is the registrar to the IPO.

The equity shares of Pranav Constructions are proposed to be listed on both the National Stock Exchange of India (NSE) and BSE Limited.