Runwal Enterprises Launches Rs 500 Crore IPO Priced at Rs 290 to Rs 305 per Share

Mumbai-focused real estate developer Runwal Enterprises Limited opened its initial public offering (IPO) seeking to raise Rs 500 crore (Rs 499.83 crore) entirely through a fresh issue of 1.64 crore equity shares of face value Rs 2 each, with no offer-for-sale (OFS) component from existing shareholders.

The price band for the issue was established at Rs 290 to Rs 305 per share. The subscription window was open between September 25, 2026, and September 29, 2026, ahead of its scheduled listing on both the BSE and the National Stock Exchange (NSE) on October 5, 2026.

Key Details of the Issue

• Issue Size: Rs 500 crore (entirely a fresh issue of approximately 1.64 crore equity shares)
• Price Band: Rs 290 to Rs 305 per equity share
• Lot Size: 49 equity shares (minimum retail application amount of Rs 14,945 at the upper end of the price band)
• Bidding Period: September 25, 2026 to September 29, 2026
• Allotment Date: September 30, 2026
• Listing Date: October 5, 2026 (tentative) on BSE and NSE
• Book Running Lead Manager: ICICI Securities Ltd
• Registrar: MUFG Intime India Pvt. Ltd

Anchor Allocation and Subscription Response

Ahead of the issue opening, Runwal Enterprises raised Rs 148.95 crore from nine anchor institutional investors on September 24, 2026. The company allocated 48.83 lakh equity shares at the cap price of Rs 305 per share. Tata Mutual Fund emerged as the lead anchor participant, securing 13.11 lakh shares worth Rs 40 crore.

By the close of the three-day bidding window on September 29, 2026, the public offering was subscribed 2.64 times overall.

Category-Wise Subscription Breakdown

• Qualified Institutional Buyers (QIBs): 4.10 times
• Non-Institutional Investors (NIIs): 4.14 times
• Retail Individual Investors (RIIs): 1.19 times

Objects of the Issue

The net proceeds from the fresh capital raise are slated for targeted capital deployment and debt reduction. Runwal Enterprises intends to allocate Rs 100 crore towards the repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company. Additionally, capital will be infused into its wholly owned material subsidiaries, Runwal Residency Private Limited and Evie Real Estate Private Limited, to settle their respective borrowing facilities. The remainder will fund the acquisition of future real estate land parcels and support general corporate purposes.

Business Profile and Market Presence

Incorporated initially in 2016 as Propel Developers Private Limited before adopting its present corporate name, Runwal Enterprises is an established real estate developer with a primary footprint across the Mumbai Metropolitan Region (MMR). The company operates across multiple residential tiers—ranging from affordable housing projects in suburban pockets like Dombivli, to mid-income developments in Mulund, Kanjurmarg, Chembur, and Bandra, as well as luxury residences in South Mumbai. It also develops commercial office assets, educational spaces, and retail shopping complexes.

Tags: Runwal Enterprises Real Estate BSE NSE IPO ICICI Securities