IPO

Puranik Builders GMP IPO Details

Puranik Builders successfully raised Rs. 510 crore through their initial public offer (IPO), alongside an offer for sale (OFS) of 9,45,000 equity shares by the promoters.

Founded in 1990 in Thane, Puranik Builders has established themselves as a prominent player in the real estate sector, offering comprehensive residential and commercial solutions. They have a strong track record of successfully developing projects in the Mumbai Metropolitan Region (MMR) and Pune Metropolitan Region (PMR). As of July 31, 2021, Puranik Builders has completed 32 projects independently and 43 projects through joint ventures. Notable ongoing projects include Rumah Bali, Puraniks City Reserva, Tokyo Bay in MMR, Aldea Espanola, and Abitante in PMR.

With their in-house studios and structural design capabilities, the company excels in conceptualization and designing processes.

Puranik Builders IPO Objectives:

  1. The funds will be allocated to enhance market capabilities.
  2. A portion of the funds will be utilized for potential growth opportunities.

Puranik Builders IPO Details

Puranik Builder Ltd submitted a Draft Red Herring Prospectus (DRHP) to SEBI, which was subsequently approved by SEBI on November 23, 2021. The IPO comprises a fresh issue of Rs. 510 crore and an offer for sale of up to 945,000 equity shares. The offer for sale includes 472,500 shares being sold by Ravindra Puranik and Gopal Puranik. Elara Capital Pvt Ltd and Yes Securities are the book running lead managers for this issue. The company intends to utilize Rs. 362 crore of the net proceeds for the repayment and settlement of debts in 2022.

Puranik Builders Ltd Company Financial Report

Financials: (In Rs cr)

ParticularsFY21FY20FY19
Total Revenue513.5730.2721.2
PAT36.351.2271.3
EPS (In Rs)6.087.7210.7
ParticularsFY21FY20FY19
Total Assets2,092.82,008.31,964.95
Total Borrowings1,354.41,2861,239
Equity Share Capital57.6557.6557.65

Peer comparison (FY20-21)

CompanyTotal Income (In Rs cr)PAT (In Rs cr)
Godrej Properties1241.42(42.81)
Oberoi Realty2090.58741.54
Sobha Developers2191.165.5
Kolte Patil Developers527.34(769)
Macrotech Developers4445.98(185.72)
Prestige Estate4,228.6212.8

Puranik Builders IPO Registrar

Name: KFin Technologies Private Limited
Phone number: +91 40 6716 2222
Email ID: puranik.ipo@kfintech.com

Puranik Builders IPO Prospectus

View documents submitted by company in filing to understand more details about them.

Puranik Builders IPO Key Points

Strengths:

  1. The company has a strong presence in the highly attractive real estate markets of Mumbai and Pune, which have shown significant profitability. Mumbai has recorded the highest sales volumes and average sales prices at launch.
  2. Puranik Builders focuses on the mid-income affordable housing segment, which offers a large customer base in the PMR and MMR markets.
  3. The company adopts a strategic pricing scheme for its core markets, offering affordable housing options ranging from Rs.4.2 million to Rs.11.5 million in MMR and Rs.3.2 million to Rs.10 million in PMR.
  4. Puranik Builders offers diversified and differentiated products, including theme-based developments tailored for the middle-income housing market, such as Tokyo Bay and Puranik City Reserva in MMR.
  5. The company enjoys a strong brand reputation and has built significant customer goodwill in the market.

Risks:

  1. Puranik Builders heavily relies on the MMR and PMR markets, which poses a concentration risk for the company.
  2. The real estate market is inherently volatile, and the uncertainties brought by the Covid-19 pandemic further increase the risks. Any additional challenges or obstacles in the real estate sector can significantly impact the company’s business.
  3. There may be potential delays in project completion, which could affect customer goodwill and satisfaction.

Puranik Builders IPO FAQs

How can I pre-apply for the Puranik Builders IPO?

Pre-application for the Puranik Builders IPO is not available at the moment.

When will the pre-application for the Puranik Builders IPO open, and how can I make the payment?

The pre-application for the Puranik Builders IPO will start two days before the launch date. Once the IPO goes live, you will receive a UPI mandate to block the IPO application amount and successfully place your bid.

How can I apply for the Puranik Builders IPO?

To apply for the Puranik Builders IPO, follow the steps below:
1. Log in to your chosen broker or online platform for IPO applications and navigate to the current IPO section.
2. Select the Puranik Builders IPO from the available options.
3. Enter the desired number of lots and the price at which you wish to apply.
4. Provide your UPI ID and click on the submit button to place your bid with the exchange.
5. You will receive a notification to authorize the blocking of funds in your UPI app. Follow the instructions to complete the process.

You can apply for the Puranik Builders IPO once the subscription period opens.

When is the opening and closing date for the Puranik Builders IPO subscription?

The opening and closing dates for the Puranik Builders IPO subscription have not been announced yet.

What is the lot size and minimum investment required for the Puranik Builders IPO?

The lot size details have not been announced yet.

What is the price band for the Puranik Builders IPO?

The price band for the Puranik Builders IPO is not available at the moment.

What is the size of the Puranik Builders IPO?

The size of the Puranik Builders IPO has not been announced yet.

How many bids can I place for the Puranik Builders IPO?

You can place up to three bids for one application.

Can I place bids at different times during the IPO subscription period?

No, all bids need to be placed together. If you want to add an additional bid, you will have to delete your previous application and reapply.

When will Puranik Builders shares be credited to my demat account?

The date for crediting Puranik Builders shares to the demat account has not been announced yet.

On which exchanges will Puranik Builders shares be listed?

Puranik Builders shares will be listed on NSE and BSE.

When will Puranik Builders shares be listed on the exchanges?

The listing date for Puranik Builders shares has not been announced yet.

Note: The Puranik Builders Limited IPO price band and date are not officially announced yet. The IPO Status of Puranik Builders Limited will be added to the IPO Status page as it will start.

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