Mumbai, March 3 -- Pranav Constructions Limited, a leading real estate company, has filed its Draft Red Herring Prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) to mop up funds through an initial public offering (IPO).
The IPO, with a face value of Rs 10 each, combines fresh issuance of Rs 392 crore with an offer for sale of up to 28,56,869 equity shares by the Promoter and investor Selling Shareholder, a company release said.
The offer for sale consists of up to 23,07,472 equity shares by BioUrja India Infra Private Limited and up to 5,49,397 equity shares by Ravi Ramalingam.
The company, in consultation with the book-running lead managers, may consider an issue of specified securities, aggr...