Runwal Enterprises IPO
Runwal Enterprises IPO is a Mainboard book-built issue of ₹500 crore, consisting entirely of a Fresh Issue of 1,63,98,962 equity shares with no Offer for Sale. The price band is ₹290 to ₹305 per share, with a lot size of 49 shares.
Runwal Enterprises IPO Details
Runwal Enterprises IPO bidding will start from 25 September 2026 and end on 29 September 2026. The allotment is expected to be finalized on 30 September 2026, while the shares are scheduled to list on BSE and NSE on 5 October 2026.
Runwal Enterprises IPO Timeline (Tentative)
Runwal Enterprises IPO will open for subscription on 25 September 2026 and close on 29 September 2026. The basis of allotment is expected on 30 September, refunds and Demat credit are scheduled for 1 October, and listing is scheduled for 5 October 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Fri, Sep 25, 2026 |
| IPO Close Date | Tue, Sep 29, 2026 |
| Basis of Allotment | Wed, Sep 30, 2026 |
| Initiation of Refunds | Thu, Oct 1, 2026 |
| Credit of Shares to Demat | Thu, Oct 1, 2026 |
| Listing Date | Mon, Oct 5, 2026 |
| Anchor Investor Bidding | 24 September 2026 |
| IPO Opens | 25 September 2026 |
| IPO Closes | 29 September 2026 |
| Basis of Allotment | 30 September 2026 |
| Refund Initiation | 1 October 2026 |
| Credit of Shares to Demat | 1 October 2026 |
| Listing Date | 5 October 2026 |
Runwal Enterprises IPO Lot Size
The Runwal Enterprises IPO lot size is 49 shares. At the upper price band of ₹305 per share, one lot requires an investment of ₹14,945. Retail investors can apply for up to 13 lots, or 637 shares, amounting to ₹1,94,285.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 49 | 14,945 |
| Retail (Max) | 13 | 637 | 1,94,285 |
| S-HNI (Min) | 14 | 686 | 2,09,230 |
| S-HNI (Max) | 66 | 3,234 | 9,86,370 |
| B-HNI (Min) | 67 | 3,283 | 10,01,315 |
Runwal Enterprises IPO Reservation
The Runwal Enterprises IPO reservation is structured with 50% of the net issue reserved for QIBs, 15% for NIIs and 35% for Retail Individual Investors. The FY2026 EPS is ₹16.74 and the indicated P/E range at the IPO price band is 17.32x to 18.22x.
Runwal Enterprises IPO Subscription
Runwal Enterprises IPO subscription data will be updated after the issue opens for bidding.
| Category | Subscription (times) |
|---|---|
| QIB | N.A. |
| NII | N.A. |
| RII | N.A. |
| Total | N.A. |
About Runwal Enterprises
Runwal Enterprises Limited is a Mumbai-based real estate developer established in 1978. The company develops residential properties across affordable, mid-income and luxury segments, along with commercial spaces, retail malls and educational buildings. Its business is primarily focused on the Mumbai Metropolitan Region.
The company has developed a portfolio across several residential and commercial segments. As of 31 March 2026, its portfolio consisted of 19 completed projects, 28 ongoing developments and 33 upcoming projects. It has a significant presence in Mumbai and its eastern suburbs, as well as the Kalyan-Dombivli market.
In FY2026, Runwal Enterprises recorded consolidated sales value of ₹2,353.5 crore compared with ₹1,899 crore in FY2025. Its total saleable area increased to 2.07 million square feet from 1.62 million square feet, while average selling price declined to ₹11,366 per square foot from ₹11,754 per square foot.
Strengths
- Established real estate business - The company has operated in the real estate sector for several decades.
- Mumbai market presence - It has a strong presence across Mumbai and surrounding submarkets.
- Diversified project portfolio - The company operates across affordable, mid-income and luxury residential segments and other real estate categories.
- Large project pipeline - The company had 19 completed, 28 ongoing and 33 upcoming projects as of 31 March 2026.
- Growth in sales value - Consolidated sales value increased 24% in FY2026.
Risks to Consider
- Real estate concentration - A significant portion of its business is concentrated in the Mumbai region.
- Project execution risk - Delays in approvals, construction or project completion may affect business performance.
- Debt exposure - The company and its subsidiaries have outstanding borrowings.
- Property market risk - Changes in interest rates, property demand and market conditions can affect sales.
- Selling price pressure - Average selling price declined during FY2026 despite an increase in saleable area.
Runwal Enterprises Financials (₹ Cr)
Runwal Enterprises reported revenue of ₹2,408.87 crore in FY2024, ₹1,007.77 crore in FY2025 and ₹1,798.95 crore in FY2026. PAT increased from ₹75.49 crore in FY2024 to ₹250.74 crore in FY2026.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | ₹2,408.87 Cr | ₹75.49 Cr | ₹6,240.48 Cr | ₹631.20 Cr |
| FY2025 | ₹1,007.77 Cr | ₹91.20 Cr | N.A. | N.A. |
| FY2026 | ₹1,798.95 Cr | ₹250.74 Cr | N.A. | N.A. |
KPIs & Valuation
Runwal Enterprises reported FY2026 EPS of ₹16.74, RoNW of 27.24%, NAV of ₹61.43, EBITDA margin of 19.44% and debt-to-equity of 3.29x. The P/E range based on the IPO price band is 17.32x to 18.22x.
Objects of the Issue
The ₹500 crore fresh issue proceeds are proposed to be used for repayment or pre-payment of borrowings, investment in subsidiaries for repayment of their borrowings, acquisition of future real estate projects and general corporate purposes.
- The company proposes to utilise the IPO proceeds for:
- Repayment/pre-payment of ₹100 crore of certain outstanding borrowings of the company.
- Investment of ₹225 crore in Runwal Residency and Evie Real Estate for repayment/pre-payment of their borrowings.
- Funding acquisitions of future real estate projects.
- General corporate purposes.
Promoters, Lead Managers & Registrar
Runwal Enterprises Limited is promoted by Subodh Subhash Runwal. ICICI Securities Limited and Jefferies India Private Limited are the Book Running Lead Managers, while MUFG Intime India Private Limited is the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | MUFG Intime India Private Limited |
|---|---|
| Phone | +91 810 811 4949 |
| runwaldevelopers.ipo@in.mpms.mufg.com | |
| Website | https://www.in.mpms.mufg.com/ |
Runwal Enterprises IPO Review
Runwal Enterprises has an established presence in the Mumbai real estate market and operates across residential, commercial and other development segments. The company has a sizeable project pipeline and reported growth in consolidated sales value and saleable area in FY2026.
The revised IPO size of ₹500 crore is entirely a fresh issue. A significant portion of the proceeds is proposed to be used for repayment of borrowings at the company and its subsidiaries, while the balance is intended for future project acquisitions and general corporate purposes.
Investors can track the company's project execution, debt position, sales performance, selling-price trends, financial results and IPO valuation along with the subscription response.
How to Apply
Runwal Enterprises IPO applications can be made through ASBA or UPI. The minimum application is one lot of 49 shares, requiring ₹14,945 at the upper price band of ₹305.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Runwal Enterprises IPO.
- Enter the number of lots you want to apply for.
- Select the bid price within the IPO price band.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI application when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors can refer to the company's DRHP, addendum and other offer documents for detailed information about the business, financial performance, risk factors, IPO structure and utilisation of the issue proceeds. The latest change to the issue size was disclosed through an addendum to the DRHP dated 11 September 2026.
Last updated Sep 22, 2026.