Pranav Construction IPO: 3 ways check to allotment status; odds of getting shares & latest GMP

Pranav Constructions, the mass-market redevelopment player, is set to finalize the basis of allotment of its equity shares on Thursday, September 10. The investors applying for the issue may check the status of their applications on the websites of the registrar, NSE or BSE. However, those who shall not get the allotment will see their mandate revoked by the same day.  

What are the odds of getting shares or allotment odds in the Pranav Constructions IPO? Based on the bidding, here are the allotment odds for the Pranav Constructions IPO:

• Big HNI category (bNII): 1 investor out of 49 investors will get 1,680 shares (Probability: 2.04 per cent)
• Small HNI category(sNII): 2 investors out of 327 investors will get 1,680 shares (Probability: 0.61 per cent)
• Retail category: 1 investor out of 40 investors will get 120 shares (Probability: 2.50 per cent)

How the applicants, who had bid for the issue of Pranav Constructions IPO can check allotment status on the website of registrar:

• Go to the web portal of KFin Technologies 
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.

How the applicants, who had bid for the issue of Pranav Constructions IPO can check allotment status on NSE

• Visit NSE's IPO allotment page
• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘PRANAV’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed

How the applicants, who had bid for the issue of Pranav Constructions IPO can check allotment status on BSE Ltd:

• Visit BSE's IPO allotment page
• Under the issue type, click Equity
• Under the issue name, select Rays of Pranav Construction in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

To recall, the IPO of Pranav Constructions was sold in the price band of Rs 118-124 apiece between September 07 and September 09. It sold the issue with a lot size of 120 equity shares and its multiples thereafter. It raised a total of Rs 351 crore via IPO, with issue being overall subscription of a solid 121 times, fetching more than 44.83 lakh applications and bids for nearly Rs 33,700 crore.

On an individual basis, the portion reserved for qualified institutional bidders (QIBs) saw a subscription of 258.71 times, while the portion for non-institutional investors (NIIs) was subscribed 208.21 times. The allocation for retail investors was subscribed 43.33 times during the three-day subscription period.

Following the solid subscription, the grey market premium (GMP) of Pranav Constructions has remained stable. Last heard, Pranav Construction IPO was commanding a GMP of Rs 40-43 apiece, suggesting a decent listing gains of 32-25 per cent for the investors. Its premium stood around Rs 33-37 before the bidding kicked-off.

PNB Investment Services and Centrum Capital are the book running lead managers of Pranav Constructions IPO and Kfin Technologies Ltd is the registrar of the issue. Refunds of the bidding amount are expected to be processed on Friday, September 11. Shares of the company shall be listed on both BSE Ltd and NSE with Tuesday, September 15 as the tentative date of debut.