Runwal Enterprises sets price band at ₹290-305 for ₹500-crore IPO
Proceeds from the fresh issue will be used for payment of debt, funding acquisition of future real estate projects, and general corporate purposes
Real estate firm Runwal Enterprises Ltd is set to launch its ₹500-crore initial public offering (IPO) on September 25, entering the primary market for the first time. The company has determined a price range of ₹290-305 per share for the offering, as per an official statement. This fresh issue of up to ₹500 crore equity shares will be finalized on September 29, down from the originally planned ₹1,000 crore.
The funds raised will be utilized for debt repayment, financing upcoming real estate projects, and general corporate needs. Runwal Enterprises specializes in constructing residential properties and commercial spaces, mid-income and luxury homes, as well as retail malls and educational facilities. Currently, 50% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.
The shares are scheduled to be traded on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 5. The IPO is being managed by book-runners ICICI Securities and Jefferies India, with MUFG Intime India serving as the registrar.
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