Another Realty IPO Heads For Dalal Street, Runwal Enterprises Sets ₹290–₹305 Price Band For ₹500-Crore Issue

Mumbai-based real estate firm Runwal Enterprises Limited will embark on a ₹500-crore initial public offering (IPO) on September 25. The company has set the IPO price band at ₹290–₹305 per equity share. Public subscription for the issue will commence on the same day and conclude on September 29. Runwal Enterprises shares are slated to trade on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 5, provided all allotment and regulatory requirements are fulfilled.

The ₹500-crore public offering comprises entirely new equity shares, implying that the funds raised will be directed straightforwardly to the company without incorporating any existing shareholders in the process. This marks a significant reduction from Runwal Enterprises' initial proposal to raise ₹1,000 crore exclusively through a fresh share issue.

The allocated funds will be utilized for multiple purposes. A portion will be earmarked to repay existing debt, while the remainder will be deployed to acquire upcoming real estate projects and meet general corporate requirements. This financial strategy aims to bolster the developer's balance sheet and provide growth capital for expanding its property portfolio.

Investor participation in the IPO is structured as follows: qualified institutional buyers will receive 50 percent of the net offer, while non-institutional investors are allotted 15 percent. The remaining 35 percent of shares is reserved for retail investors, allowing a broader segment of the public to participate in the company's growth story.

Runwal Enterprises specializes in developing residential properties across affordable, mid-income, and luxury housing categories, as well as commercial spaces, shopping malls, and educational properties. This diverse portfolio allows the company to tap into multiple segments of India's property market. The IPO process is being managed by book-running lead managers ICICI Securities and Jefferies India, while MUFG Intime India has been appointed as the registrar, responsible for handling application processing, share allotment, and investor-related services.