Runwal Enterprises opens ₹500 crore IPO at ₹290-305 a share
The Mumbai real-estate developer's public offer runs from 25 to 29 September 2026, entirely a fresh issue. Price band, lot size, objects of the issue and the risk factors the company lists, in one place.
Runwal Enterprises Limited, a Mumbai-focused real estate developer, opened its initial public offering on 25 September 2026. Bidding closes on 29 September, and the price band is ₹290 to ₹305 per equity share. The issue is entirely a fresh issue; the company is not selling any existing shareholder’s stock through an offer for sale.
Key facts
| Item | Detail |
|---|---|
| Bidding period | 25 to 29 September 2026 |
| Price band | ₹290 to ₹305 per share |
| Lot size | 49 shares (₹14,945 at the upper end) |
| Total issue size | About ₹500 crore (₹499.83 crore), fresh issue only |
| Offer for sale | None |
| Lead managers | ICICI Securities, Jefferies India |
| Registrar | MUFG Intime India |
| Proposed listing | BSE and NSE, tentatively 5 October 2026 |
What the company does
Runwal Enterprises plans, constructs and sells or leases residential and non-residential real estate, spanning affordable to luxury housing as well as commercial, retail and educational-infrastructure projects. Its projects are concentrated in the Mumbai region.
Objects of the fresh issue
Aggregator reporting citing the draft prospectus gives this breakdown of the net proceeds:
- ₹100 crore for repayment or pre-payment, in full or in part, of the company’s own outstanding borrowings.
- ₹225 crore as investment in wholly owned material subsidiaries (named elsewhere as Runwal Residency Private Limited and Evie Real Estate Private Limited) for repayment or pre-payment of their outstanding borrowings.
- The balance for funding acquisitions of future real estate projects and general corporate purposes, with no source giving a specific rupee figure for this portion.
Risk factors reported
Secondary reporting citing the company’s draft red herring prospectus lists these among the company’s stated risk factors:
- A Net Debt/Equity ratio of about 3.29 times, and contingent liabilities reported at ₹79,800.81 million (about ₹7,980 crore, on the standard 1 crore = 10 million conversion).
- All of the company’s completed, ongoing and upcoming projects are concentrated in the Mumbai region, except two upcoming projects near Alibaug.
- Revenue and cash flow are reported as lumpy and cyclical, tied to project completion and possession milestones, with a dip in FY25 cited as an example.
- Residential projects accounted for 84.39% of developable area and 93.93% of sales as of 31 March 2026, concentrating the company in the residential segment.
- All 33 of the company’s upcoming projects had development plans still pending finalisation and approval as of the prospectus date.
Basis of these figures
Dates, price band, lot size, issue size, objects of the issue and risk factors in this article are taken from secondary reporting on the company’s draft/red herring prospectus (Chittorgarh, Multibagg, ScanX, Business Standard and Tradebrains), cross-checked against each other where they overlap. The prospectus itself could not be opened during review; the figures above are corroborated across five independent sources but were not confirmed against the prospectus directly. Read the prospectus, filed with SEBI, for the full and authoritative terms. This article reports the issue’s terms only. It carries no view on whether to apply and no unofficial pre-listing price data.