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New Delhi, Sep 15 (PTI) Shares of real estate developer Pranav Constructions on Tuesday ended over 6 per cent higher against the issue price of Rs 124.
The stock started trading at Rs 162, registering a jump of 30.64 per cent from the issue price on the BSE. During the day, it surged 32.66 per cent to Rs 164.50. It finally ended at Rs 129.60, up 4.51 per cent, paring most of intraday gains.
At the NSE, the stock listed at Rs 165, a premium of 33 per cent. It ended at Rs 132, up 6.45 per cent.
The company’s market valuation stood at Rs 1,459.59 crore.
Pranav Constructions’ Rs 351-crore IPO was subscribed 121 times on the final day of bidding on Wednesday last week.
The company’s IPO was open for subscription from September 7-9 with a price band of
Rs 118-124 per equity share.
Pranav Constructions Ltd had raised Rs 84.24 crore from anchor investors.
The company is a real estate developer focused on the Municipal Corporation of Greater Mumbai redevelopment segment in Mumbai’s western suburbs. PTI SUM SUM ANU ANU
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