Mumbai, India – Runwal Enterprises, a prominent real estate developer based in Mumbai, is set to open its initial public offering (IPO) for subscription on September 25. The company has fixed the price band for the public issue at Rs 290-305 per equity share, with investors able to bid for a minimum of 49 shares.
Issue Size and Objectives
The IPO aims to raise Rs 500 crore at the upper end of the price band. This marks a significant reduction from the earlier proposed issue size of Rs 1,000 crore. The Securities and Exchange Board of India (SEBI) approved the revised size in September 2025, following new regulations that permit companies to adjust their fresh issue size by up to 50 percent without refiling the draft prospectus.
The proceeds from the IPO are earmarked for several key objectives:
- Debt Repayment: Rs 100 crore will be used to repay a portion of Runwal Enterprises' standalone borrowings, which stood at Rs 431.4 crore as of July 2026.
- Subsidiary Funding: An additional Rs 225 crore will be invested in wholly-owned material subsidiaries, Runwal Residency and Evie Real Estate, to repay parts of their outstanding borrowings. As of July 2026, Runwal Residency had Rs 286.5 crore in debt, while Evie Real Estate owed Rs 356.4 crore.
- Future Projects and General Corporate Purposes: The remaining funds will be allocated towards acquiring future real estate projects and for general corporate needs.
Financial Performance Overview
Runwal Enterprises demonstrated robust growth in the fiscal year 2026. The company recorded a consolidated sales value of Rs 2,353.5 crore, a 24 percent increase from Rs 1,899 crore in the previous fiscal year. This growth was driven by an expansion in total saleable area, which rose to 2.07 million square feet in FY26 from 1.62 million square feet a year earlier.
However, the average selling price per square foot saw a slight decrease, falling to Rs 11,366 in FY26 from Rs 11,754 in FY25. The company, promoted by Subodh Runwal, initially filed its draft red herring prospectus (DRHP) with SEBI in March 2025.
Merchant Bankers
ICICI Securities and Jefferies India have been appointed as the merchant bankers responsible for managing the Runwal Enterprises IPO.