PNB Investment Services Ltd.
IPOs where PNB Investment Services Ltd. acted as a book-running lead manager, with each issue’s size and listing outcome.
Track record on ipostation
ipostation's database lists PNB Investment Services Ltd. as a book-running lead manager on 2 IPOs: all of them mainboard issues. Bidding dates recorded here run from Jun 2026 to Sept 2026. Of these, 2 have listed. It shared every one of these mandates with at least one other lead manager.
Issue size is recorded for both IPOs. They range from ₹170 Cr (Aastha Spintex) to ₹351.03 Cr (Pranav Constructions), with a median of ₹260.52 Cr. The 2 listed issues with a recorded size total ₹521.03 Cr; sizes for issues that have not listed are the amounts stated in their offer documents.
A listing-day change is recorded for 2 listed issues: 1 above and 1 below the issue price. The median change was +13.1%, from -4.4% (Aastha Spintex) to +30.6% (Pranav Constructions). These are past listing outcomes and say nothing about how a future issue will list.
Final overall subscription is recorded for both issues whose bidding has closed. The median was 65.7x, ranging from 5.05x (Aastha Spintex) to 126.34x (Pranav Constructions).
PNB Investment Services Ltd. has worked alongside 2 other lead managers on these issues. The co-managers, by number of shared issues:
- BOI Merchant Bankers Ltd. — 1 shared issue
- Centrum Capital Ltd. — 1 shared issue
IPOs with PNB Investment Services Ltd. as lead manager
| IPO | Board | Status | Open date | Issue size | Price | Subscription | Listing gain |
|---|---|---|---|---|---|---|---|
| Pranav Constructions | Mainboard | Listed | 7 Sept 2026 | ₹351.03 Cr | ₹124 | 126.34x | +30.6% |
| Aastha Spintex | Mainboard | Listed | 29 Jun 2026 | ₹170 Cr | ₹136 | 5.05x | -4.4% |
Subscription is the final overall figure once bidding has closed; listing gain is the listing-day change against the issue price. “—” means not available.
What a book-running lead manager does
Under Regulation 23 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, an issuer must appoint one or more SEBI-registered merchant bankers, at least one of whom is a lead manager to the issue. When more than one merchant banker manages an issue, each one’s responsibilities for disclosures, allotment, refunds and underwriting are fixed in advance and set out in the draft offer document and the offer document.