Builder IPOs Soar as Rate Hike Fears Cloud India's Real Estate Outlook

33% — the debut premium Pranav Constructions commanded on both the BSE and NSE today, proof that Mumbai's residential redevelopment niche still has Wall Street hungry for more even as rate hike clouds gather.

Money Moves

• Pranav Constructions IPO explodes — The Mumbai-based residential redevelopment specialist listed at Rs 165 on NSE (33% above its Rs 124 issue price) after its ₹351 crore IPO was subscribed 126 times, with institutional investors...