Story thread · 2 reports / 1 sources

Pranav Construction IPO: How ₹315 Crore Fresh Issue Will Cut Debt And Fund Redevelopment

businesstoday.in · 7dShare

Pranav Construction plans to raise ₹315 crore through its fresh IPO issue, with a significant portion earmarked for project and balance-sheet requirements. Ravi Ramalingam, Whole time Director, Pranav Constructions explains that ₹145 crore will be used for FSI and approval costs, while ₹91.5 crore will go towards debt repayment. As of the RHP date, the company had debt of around ₹236 crore, with the remaining borrowings planned to be addressed through internal approvals. The company says most of its debt carries a 13% NBFC interest rate. Its early financial-closure strategy and planned sales are aimed at managing leverage and limiting interest costs during project execution.

First report: Pranav Construction IPO: Can Mumbai Redevelopment Strategy Create A New Realty Growth Story? — businesstoday.in, 7d