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Puranik Builders IPO Details

Puranik Builders IPO Details

Puranik Builders IPO opening date not announced. According to the DRHP filed by the company with SEBI, they are planning to fresh issue of shares of Rs 510 Crore.

The company began operations in Thane in 1990 and has since expanded into other micro-markets within the MMR and PMR. The company is among the prominent residential real estate developers in the Mumbai Metropolitan Region (“MMR”) and Pune Metropolitan Region (“PMR”) based on several units currently being marketed in these regions.

The company has a longstanding presence of over 31 years in the real estate market in India, developing residential projects in the mid-income affordable housing segment in the MMR and PMR real estate markets.

As of July 31, 2021, they had developed 554,197 square meter (5,965,381 square feet) of developable area across 35 completed projects.

Objects of the Issue

The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objects:

  1. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company on a consolidated basis.
  2. General corporate purposes.

Financial Highlights (Restated)

ParticularsPeriod ended on 31st July 2021FY 2020-21FY 2019-20FY 2018-19
Total Assets2108.72092.82008.321964.95
Net Worth352.97336..73302.9258.86
Revenue from operations191.13513.56730.24721.23
Profit After Tax17.5336.351.2371.27
Total Borrowing1366.741354.441285.811238.84
(Rs in crore)

Puranik Builders IPO – Details

Issue TypeBook Built Issue IPO
IPO PriceRs (.) per share
Face ValueRs 10 per share
Market Lot
Issue Size
Fresh Issue[.] shares of Rs 10 (Aggregating up to Rs 510 Crore)
Offer for Sale9,45,000 shares of Rs 10 (Aggregating up to Rs (.) Crore)
QIB Shares OfferedNot more than 50% of the Offer
NII (HNI) Shares OfferedNot less than 15% of the Offer
Retail Shares OfferedNot less than 35% of the Offer
Listing AtBSE, NSE
PromotersShailesh Puranik, Shrikant Puranik,
Yogesh Puranik, Nilesh Puranik,
Puranik Business Private Trust and
Puranik Family Private Trust

Promoter Holding – Puranik Builders IPO

Pre issue share holding100%
Post issue share holding

Also read: Uniparts India Limited IPO

SWOT Analysis – Puranik Builders IPO

STRENGTH

  1. Longstanding operations in the attractive real estate markets of MMR and PMR.
  2. Focus on and experience in the mid-income affordable housing segment.
  3. Strategic pricing for the MMR and PMR micro-markets.
  4. Established brand and customer goodwill in the MMR and the PMR markets.
  5. Differentiated and diversified product offerings.
  6. Asset-light model for development of projects through joint development agreements and joint venture arrangements.
  7. Strong pipeline of projects.

WEAKNESS

  1. There are certain outstanding litigation proceedings involving Company, Subsidiaries, Directors and Promoters, an adverse outcome in which, may have an adverse impact on company reputation, business, financial condition, results of operations and cash flows.
  2. Company business is subject to seasonality, which may contribute to fluctuations in company results of operations and financial condition.

OPPORTUNITY

  1. Pursue opportunities in the low-income affordable housing segment.
  2. Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021 and contribute 13% to the country’s GDP by 2025. According to Savills India, real estate demand for data centres is expected to increase by 15-18 million sq. ft. by 2025.

THREAT

  1. Company business is heavily dependent on the performance of, and the conditions affecting, the real estate markets in the Mumbai Metropolitan Region (“MMR”) and Pune Metropolitan Region (“PMR”).
  2. The industry in which company operate is competitive and highly fragmented resulting in increased competition that may adversely affect our results.

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationPuranik Builders Limited
PURANIK ONE, Near Kanchanpushpa Complex,
Opposite Suraj Water Park, Kavesar,
Ghodbunder Road, Thane (West) – 400 615
Phone: +91 22 2598 8888
Email: [email protected]
Website: https://www.puranikbuilders.com/
IPO RegistrarKFin Technologies Private Limited
Telephone: +91 40 6716 2222
Investor grievance e-mail: [email protected]
Website: www.kfintech.com
IPO Lead Manager(s)Elara Capital (India) Private Limited
YES Securities (India) Limited

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