Puranik Builders Limited IPO

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i. Puranik Builders are among the prominent residential real estate developers in Mumbai Metropolitan Region (“MMR”) and Pune Metropolitan Region (“PMR”) based on a number of units currently being marketed in these regions. They are also among the leading residential real estate developers in the growing Thane region of MMR based on the projects currently being marketed and corresponding units sold.

ii. Puranik Builders commenced operations in Thane in 1990 and have over the years diversified into other micro-markets within the MMR and the PMR.

iii. As of 2021, they had developed 554,197 square meters (5,965,381 square feet) of Developable Area across 35 Completed Projects. Certain of their key completed and ongoing theme-based projects include Rumah Bali, Puraniks City Reserva, and Tokyo Bay in the MMR, and Aldea Espanola and Abitante in the PMR.

iv. As of July 31, 2021, they had 23 Ongoing Projects with an aggregate Developable Area of 1,305,632 square meters (14,053,820 square feet) with ticket sizes ranging between ₹4.73 million and ₹12.56 million in the MMR and between ₹3.41 million and ₹9.72 million in the PMR, for mid-income affordable housing segment, and between ₹1.15 million to ₹3.42 million for low-income affordable housing segment

v. Competitive Strengths
i. Longstanding operations in the attractive real estate markets of MMR and PMR.
ii. Focus on and experience in the mid-income affordable housing segment.
iii. Strategic pricing for the MMR and PMR micro-markets

 

Objects of the Puranik Builders Limited IPO:

Each of the Selling Shareholders will be entitled to the respective portion of the proceeds of the Offer for Sale. The net proceeds of the Fresh Issue ("Net Proceeds") are proposed to be utilised in the following manner: 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.  
DRHP of Puranik Builders Limited IPO

Puranik Builders Limited IPO Details:

Total Shares: 945,000
Issue Type: Book Built Issue
Listing At: NSE,BSE

Promoters And Management:

Shailesh Puranik, the Chairman and Managing Director of the Company, holds a bachelor’s degree in architecture from the University of Bombay. He has completed the postgraduate certificate course in management studies from Robert Kennedy College, University of Cumbria. He has been associated with the Company since its incorporation. He has been awarded the ‘Best CEO of the Year’ in 2015 award by Construction Times and ‘Brand Builder of the Year’ at Lokmat Corporate Excellence Awards by XRBIA-Building 100 Future Ready Cities on November 28, 2015. He has over 31 years of experience in various aspects of real estate business. Shrikant Puranik, a Whole Time Director of the Company, has completed a certificate course of training in trade of building construction from Industrial Training Institute, Ambarnath, Thane. He has been associated with the Company since its incorporation. In the past, he has been associated with The Vivekanand Housing Corporation and has over 35 years of experience in various aspects of real estate business. Yogesh Puranik, a Whole Time Director of the Company, holds a diploma in family-managed business administration from NMIMS University and a certificate of completion of the post graduate programme in management for senior executives from the Indian School of Business. He has been associated with the Company since its incorporation and has over 31 years of experience in various aspects of real estate business.  

Financials of Puranik Builders Limited IPO: 

To be updated shortly
 

Comparison With Peers:

To be updated shortly
 

Recommendation on Puranik Builders Limited IPO:

To be updated shortly
 

Lead Manager of Puranik Builders Limited IPO:

  1. Elara Capital (India) Private Limited
  2. Yes Securities (India) Limited

Registrar of Puranik Builders Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

Puranik Builders Limited PURANIK ONE, Near Kanchanpushpa Complex, Opposite Suraj Water Park, Kavesar, Ghodbunder Road, Thane (West) - 400 615 Phone: +91 22 2598 8888 Email: cs@puraniks.in Website: https://www.puranikbuilders.com/

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