Puranik Builders, India’s leading real estate developer, has filed DRHP with SEBI to float its initial public offering. As per its DRHP, the company’s public issue will include the fresh issuance of equity shares amounting to Rs. 510 crores. Moreover, this IPO will comprise an offer for sale (OFS) of a maximum of 9,45,000 shares by promoters of this company.
With this secondary issue, Gopal Puranik, as well as Ravindra Puranik, will each be offloading a maximum of 4,72,500 shares. Before knowing more details regarding this forthcoming IPO, let’s look at Puranik Builders in brief.
A Quick Glance at Puranik Builders
After commencing business in 1990, Puranik Builders has gradually diversified its operations into different micro markets. By the end of July this year, the company had successfully completed 35 projects within PMR and MMR. This real estate development company has managed to successfully execute projects, especially in the middle-income housing division, by providing extra amenities and developments based on themes.
Check Important Puranik Builders IPO Details Here
Investors must make sure to take note of the following information concerning the public issue of Puranik Builders:
- Type of Issue: Book build issue
- Listing on: BSE as well as NSE
- Face Value: 10 per equity share
- Price Band: Not yet announced
- Minimum Order Quantity: Not yet announced
- IPO Opening Date: Not yet announced
- IPO Closes on: Notyet announced
- Market Lot: Not yet announced
Objectives of Puranik Builders IPO
Puranik Builders aims to achieve the following objectives by utilising the funds it raises via its initial public offering:
- Ensuring the accomplishment of general corporate purposes
- Making full or partial prepayment/repayment of certain outstanding borrowings that were availed by this company on a consolidated basis.
For investors who are interested in placing Puranik Builders IPO order once it opens for subscription, it is crucial to consider certain aspects. Let’s find out what they are.
Competitive Strengths of Puranik Builders
Here are some competitive advantages of Puranik Builders:
- This company has a highly experienced management team with a proven track record when it comes to executing projects successfully.
- Puranik Builders has high brand value, especially in the micro markets.
- This company has considerable experience in the affordable housing division that’s meant for India’s mid-income segment.
- This company’s product offerings are multifaceted.
- It is well known in the market for its high-quality construction and prompt delivery of some crucial projects in Mumbai.
- This company has an asset-light business model for its developmental projects.
Key Financial Highlights of Puranik Builders
The following figures provide investors with an insight into the Maharashtra-based real estate developer’s financial position:
|For the Period Ended||Overall Revenue (Rs.)||Total Expenses (Rs.)||Profit after Tax (Rs.)|
|31 March 2019||7,212.30 million||6,230.19 million||712.70 million|
|31 March 2020||7,302.40 million||6,582.85 million||512.29 million|
|31 March 2021||5,135.60 million||4,686.57 million||363.03 million|
Puranik Builders is one of the leading real estate developing companies in India, having a number of competitive advantages. This is the company’s third attempt to float its IPO. Back in November 2019, this company had received approval from the capital market regulator. However, it did not move forward with its plans. Before that, it had filed papers in June 2018 to raise funds via IPO.
For investors who may consider subscribing to this company’s upcoming initial public offering, it is crucial to consider other vital aspects, such as its weaknesses, threats, opportunities, and more, before proceeding.
Frequently Asked Questions
- Who is the registrar for Puranik Builders IPO?
The registrar for the initial public offering of Puranik Builders is KFin Technologies Private Limited.
- Which entities have been appointed as lead managers for the public issue of Puranik Builders?
The merchant bankers for this upcoming initial share sale are YES Securities and Elara Capital.
- Which companies are some of the listed peers of Puranic Builders?
Some of the listed peers of Puranic Builders are Prestige Estates Projects Limited, Oberoi Realty Limited, Kolte-Patil Developers Limited and Sunteck Realty Limited.
- How can I subscribe to Puranic Builders IPO?
Investors who already are customers of Angel One can apply for Puranic Builders IPO through the Angel One app. That said, new investors can open a DEMAT account right away to subscribe to this initial share sale.