Trilegal acts on Pranav Constructions' ₹351 crore IPO

Pranav Constructions Limited has raised ₹351 crore from an initial public offering of equity shares, comprising a fresh issue and an offer for sale by existing investor selling shareholder.

Trilegal advised Pranav Constructions on this IPO.

The transaction was led by Richa Choudhary (Partner) and Maitreya Rajurkar (Partner), with support from Avanti Kale (Counsel), Pooja Tada (Senior Associate), Associates Siddhant Mishra, Yug Gambhir, Arnab Goswami and Tanushka Trivedi.

Pranav Constructions is a leading real estate company focusing on redevelopment projects in the Western suburbs of Mumbai Metropolitan Region.

The IPO was oversubscribed by 126 times. It listed on the Indian bourses with ~ 33% premium. The net proceeds from the fresh issue will be utilised for debt repayment, funding redevelopment expenses and fusing acquisition of future redevelopment projects and general corporate purposes.

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