Runwal Enterprises ₹500 Crore IPO Opens on September 25, Subscribed 0.42x

IPO Opens with Muted Response on First Day

Runwal Enterprises' initial public offering opened for subscription on 25 September 2026, marking the company's entry into public markets. The price band was set between ₹290 and ₹305 per share. By mid-trading on the opening day, the issue had received 0.42 times subscription, with bids for 50.85 lakh shares against 1.21 crore shares on offer.

The IPO will remain open until 29 September 2026, with allotment expected to be finalised on 30 September 2026 and shares tentatively scheduled to list on the BSE and NSE on 5 October 2026.

Issue Structure and Use of Proceeds

According to the Red Herring Prospectus, the ₹499.83 crore book-built issue comprises a fresh issue of 1.64 crore equity shares, with no offer for sale by existing shareholders. ICICI Securities Limited and Jefferies India Private Limited are the book-running lead managers to the issue.

The proceeds are aimed at debt repayment, investments in subsidiaries, funding future real estate projects, and general corporate purposes.

About Runwal Enterprises

Runwal Enterprises, promoted by Subodh Subhash Runwal, is a Mumbai-based real estate developer engaged across residential, commercial, retail and educational projects, with offerings spanning affordable, mid-income and luxury segments. Incorporated in 2016, the company operates with a diversified portfolio spanning affordable, mid-income and luxury residential projects, along with commercial spaces, retail malls and educational buildings.

As of 31 March 2026, the company had completed 19 projects with a developable area of 12.09 million square feet, 28 ongoing projects covering 19.88 msft and 33 upcoming projects spanning 56.41 msft. Its projects are primarily concentrated in Mumbai, with developments also in Alibaug, Maharashtra.

The developer holds a strong position in key Mumbai submarkets, ranking first in residential sales in the eastern suburbs and leading new launches in Kalyan-Dombivli. For the twelve months ended 31 March 2026, the firm reported a consolidated net profit of ₹185.78 crore and sales of ₹1,798.95 crore.

As of 31 March 2026, the company had 7,072 unsold units across completed and ongoing projects, representing 7.55 msft of unsold developable area.