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IPO ·
NSE, BSE
Runwal Enterprises Ltd
Listed
Mumbai real estate developer of residential, commercial, retail and township projects.
Issue details
Price band
₹290 – ₹305
Face value
₹2
Lot size
49 shares
Minimum investment
₹14,945
Issue size
₹500 Cr
Fresh issue
₹500 Cr
Offer for sale
—
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
25 Sep 2026
Closes
29 Sep 2026
UPI mandate cut-off
5:00 PM on 29 Sep 2026
Allotment
30 Sep 2026
Refunds
1 Oct 2026
Shares in demat
1 Oct 2026
Listing
5 Oct 2026
Subscription and listing
Subscription
2.64x
Listing price
₹305
Registrar
MUFG Intime India Pvt Ltd
Lead manager
ICICI Securities, Jefferies India
Subscription by category
QIB (Ex Anchor)
4.10x
NII
4.14x
bNII (> ₹10L)
4.57x
sNII (< ₹10L)
3.28x
Retail
1.19x
Employee
1.20x
Total
2.64x
Total applications
1,09,868
Anchor investors
Amount raised
₹148.95 Cr
Bid date
24 Sep 2026
50% lock-in ends
29 Oct 2026
Rest lock-in ends
28 Dec 2026
Listing day
Issue price
₹305
Open
₹305.00
High
₹307.75
Low
₹281.20
Day close
₹301.45
Listing gain at open
0.00%
Issue structure
Shares reserved per category and share of the total issue
QIB
81,39,343
49.63%
Anchor Investor
48,83,605
29.78%
QIB (Ex. Anchor)
32,55,738
19.85%
NII
24,41,804
14.89%
bNII > ₹10L
16,27,869
9.93%
sNII < ₹10L
8,13,935
4.96%
Retail
56,97,541
34.74%
Employee
1,20,274
0.73%
Total
1,63,98,962
100.00%
Finaccle’s quick read
Avoid
Debt/equity of 3.29 and erratic earnings (income ₹2,436.68 Cr to ₹1,050.71 Cr to ₹1,850.79 Cr; PAT up 234% in FY26) at a post-issue P/E of 24.26 and P/B of 4.97.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Runwal Enterprises is a Mumbai-focused real estate developer building affordable, mid-income and luxury housing, as well as commercial offices, retail malls and educational buildings. It also develops large integrated townships. As of March 2026 it had 19 completed, 28 ongoing and 33 upcoming projects, with FY26 total income of about ₹1,851 Cr.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
—
ROCE
—
Debt / equity
3.29
PAT margin
—
P/E post issue
24.26
Market cap
₹4,507.44 Cr
Use of IPO money
Repayment/pre-payment of outstanding borrowings
₹100.00 Cr
Investment in material subsidiaries for debt repayment
₹225.00 Cr
Future real estate acquisitions and general corporate purposes
₹117.12 Cr
Issue expenses
₹57.88 Cr
Strengths
✓
Large pipeline of 28 ongoing and 33 upcoming projects
✓
Established brand in the Mumbai property market
✓
Experience in large integrated townships
✓
Entirely fresh issue, mostly used to cut debt
Risks to watch
!
Debt/equity of 3.29 with borrowings of ₹2,909 Cr
!
Income and profit swing sharply between years
!
PAT more than tripled in FY26 just before the IPO
!
Heavy concentration in the Mumbai region
!
₹117 Cr set aside for unidentified land acquisitions and GCP
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.