Runwal Enterprises IPO is a mainboard book-built issue of up to ₹500 crore. The issue is entirely a fresh issue of 1,63,93,442 equity shares, with no offer for sale. The IPO is scheduled to open for subscription on September 25, 2026, and close on September 29, 2026. The basis of allotment is expected on September 30, 2026, while the shares are scheduled to be listed on October 5, 2026 on BSE and NSE.
Runwal Enterprises IPO has a price band of ₹290 to ₹305 per equity share and a lot size of 49 shares. At the upper price band, the minimum retail investment is ₹14,945 for one lot. The company has offered an employee discount of ₹14 per share to eligible employees, subject to the applicable issue terms.
Runwal Enterprises is a Mumbai-focused real estate developer engaged in residential, commercial, retail and integrated development projects. As of March 31, 2026, the company had 19 completed projects, 28 ongoing projects and 33 upcoming projects, representing an aggregate developable and estimated developable area of 88.37 million square feet.
Table of Contents
Runwal Enterprises IPO Details Information
| Particular | Details |
|---|---|
| IPO Name | Runwal Enterprises IPO |
| Company Name | Runwal Enterprises Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹2 per share |
| Price Band | ₹290 to ₹305 per share |
| Issue Size | ₹500 Crore |
| Fresh Issue | 1,63,93,442 Shares |
| Offer for Sale | Nil |
| IPO Open Date | September 25, 2026 |
| IPO Close Date | September 29, 2026 |
| Anchor Investor Bidding | September 24, 2026 |
| Basis of Allotment | September 30, 2026 |
| Refund Initiation | October 1, 2026 |
| Shares Credited to Demat Account | October 1, 2026 |
| Listing Date | October 5, 2026 |
| Listing Exchange | BSE and NSE |
| Lot Size | 49 Shares |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Book Running Lead Managers | ICICI Securities Ltd. and Jefferies India Pvt. Ltd. |
Runwal Enterprises IPO is entirely a fresh issue. The company is proposing to issue 1,63,93,442 equity shares, with the issue size aggregating up to approximately ₹500 crore at the upper price band. The issue is intended to raise primary capital for debt repayment, investments in subsidiaries for debt repayment, future project acquisitions and general corporate purposes.
Runwal Enterprises IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | September 24, 2026 |
| IPO Opening Date | September 25, 2026 |
| IPO Closing Date | September 29, 2026 |
| Basis of Allotment | September 30, 2026 |
| Refund Initiation | October 1, 2026 |
| Shares Credited to Demat Account | October 1, 2026 |
| Listing Date | October 5, 2026 |
The IPO is scheduled to open on September 25 and close on September 29, 2026. The allotment is expected to be finalised on September 30, followed by refund initiation and credit of shares on October 1. The tentative listing date is October 5, 2026.
Runwal Enterprises IPO Reservation
| Investor Category | Reservation |
|---|---|
| QIB | Not more than 50% |
| NII | Not less than 15% |
| RII | Not less than 35% |
The issue includes allocations for qualified institutional buyers, non-institutional investors and retail individual investors. The issue also includes an employee reservation portion. Available issue data indicates approximately 20% for QIBs, 15% for NIIs and 35% for retail investors, with the remaining structure including anchor and employee allocations under the applicable issue terms.
Runwal Enterprises IPO Lot Size
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 49 | ₹14,945 |
| Retail Maximum | 637 | ₹1,94,285 |
| S-HNI Minimum | 686 | ₹2,09,230 |
The minimum bid lot is 49 shares, and investors can bid in multiples of 49 shares. At the upper price band of ₹305, one lot requires ₹14,945. The maximum retail application of 637 shares requires ₹1,94,285. The minimum S-HNI application begins at 686 shares, requiring ₹2,09,230.
About Runwal Enterprises Limited
Runwal Enterprises Limited was incorporated in February 2016 and forms part of the broader Runwal Group, whose real estate heritage dates back to 1978. The company is a Mumbai-focused real estate developer with activities covering residential, commercial, retail and educational developments.
Its residential portfolio covers affordable, mid-income and luxury housing segments. The company also develops integrated townships and projects combining residential buildings with retail, commercial and community infrastructure.
As of March 31, 2026, the company had 19 completed projects, 28 ongoing projects and 33 upcoming projects. These projects represented approximately 88.37 million square feet of aggregate developable and estimated developable area. The residential portfolio accounted for approximately 74.58 million square feet, while non-residential developments accounted for about 13.80 million square feet.
Business Operations
Runwal Enterprises operates across the real estate development value chain, including land identification and acquisition, project planning, design, regulatory approvals, construction, marketing and sales.
The company undertakes greenfield developments as well as asset-light projects through Joint Development Agreements, Development Agreements and joint ventures. Its portfolio includes residential developments, townships, commercial offices, retail malls and educational facilities.
As of March 31, 2026, the company had 19 completed projects covering 12.09 million square feet of developable area. Its 28 ongoing projects covered approximately 19.88 million square feet, while the 33 upcoming projects represented an estimated 56.41 million square feet.
The company’s projects are concentrated in Mumbai and its surrounding markets, with developments extending across eastern, central, western and southern parts of the Mumbai Metropolitan Region as well as areas such as Alibaug.
Industry Overview
The Mumbai residential real estate market is an important operating market for Runwal Enterprises. The company reported that it ranked third in Mumbai in terms of new launches and sales between January 2023 and March 31, 2026, with approximate market shares of 2.33% and 2.46%, respectively, according to the JLL Report cited in the company’s IPO materials.
The company’s development portfolio covers affordable, mid-income and luxury housing, allowing it to operate across multiple residential segments. It has also expanded into premium locations including Mahalaxmi, Girgaum and Bandra.
Real estate developers remain exposed to factors such as interest rates, property demand, construction costs, land acquisition, regulatory approvals, project execution and financing availability. These factors can affect project timelines, cash flows and profitability.
Business Strategy
Runwal Enterprises’ strategy includes developing a diversified residential portfolio while expanding its presence across premium and emerging markets in the Mumbai region.
The company also uses asset-light development structures such as JDAs, development agreements and joint ventures. These models can allow the company to participate in projects while reducing reliance on outright land acquisition.
The company has also pursued integrated developments combining residential, retail, commercial and educational facilities. Its ongoing and upcoming pipeline provides a significant amount of future development area.
The company is also focusing on reducing debt through the IPO proceeds. The revised IPO objects provide for ₹100 crore toward repayment or prepayment of certain company borrowings and ₹225 crore toward investments in subsidiaries for repayment or prepayment of their borrowings.
Runwal Enterprises IPO Financial Information
Runwal Enterprises reported a substantial improvement in revenue and profitability in FY2026 compared with FY2025. Revenue from operations increased to approximately ₹1,798.95 crore in FY2026 from ₹1,007.77 crore in FY2025, while PAT increased to ₹185.76 crore from ₹55.65 crore.
Runwal Enterprises Financial Summary
| Particular | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Assets | ₹10,254.50 Cr | ₹8,328.14 Cr | ₹7,079.74 Cr |
| Total Income | ₹1,850.79 Cr | ₹1,050.71 Cr | ₹2,436.68 Cr |
| Profit After Tax | ₹185.76 Cr | ₹55.65 Cr | ₹93.70 Cr |
| EBITDA | ₹349.81 Cr | ₹180.11 Cr | ₹201.73 Cr |
| Net Worth | ₹768.20 Cr | ₹455.86 Cr | ₹372.65 Cr |
| Reserves and Surplus | ₹819.81 Cr | ₹460.07 Cr | ₹426.07 Cr |
| Total Borrowings | ₹2,909.13 Cr | ₹2,312.58 Cr | ₹1,783.65 Cr |
Amount in ₹ Crore.
The company recorded total income of ₹1,850.79 crore and PAT of ₹185.76 crore in FY2026. EBITDA increased to ₹349.81 crore from ₹180.11 crore in FY2025. Net worth increased to ₹768.20 crore, while total borrowings increased to ₹2,909.13 crore.
Runwal Enterprises IPO Key Performance Indicators (KPIs)
| KPI | FY2026 |
|---|---|
| ROE | 27.24% |
| ROCE | To Be Updated |
| Debt/Equity | 3.29 |
| RoNW | 27.24% |
| PAT Margin | 10.33% |
| EBITDA Margin | 19.44% |
| NAV | ₹61.43 |
| Price to Book Value | 4.97 |
The FY2026 figures indicate a RoNW of 27.24%, EBITDA margin of 19.44% and debt-to-equity ratio of 3.29. NAV was ₹61.43 per share. The company reported FY2026 EPS of ₹16.74 in its offer-document-based financial information.
Objects of the Runwal Enterprises IPO
The company proposes to utilise the net proceeds from the issue towards the following objects:
- Repayment or prepayment, in full or in part, of certain outstanding borrowings of the company.
- Investment in material subsidiaries, including Susneh Infrapark Private Limited and Runwal Residency Private Limited, and subsidiary Evie Real Estate Private Limited, for repayment or prepayment of their outstanding borrowings.
- Funding acquisitions of future real estate projects.
- General corporate purposes.
The revised IPO structure provides ₹100 crore for repayment or prepayment of certain company borrowings and ₹225 crore for investment in subsidiaries for repayment or prepayment of their borrowings. The remaining net proceeds are proposed for future real estate project acquisitions and general corporate purposes.
The debt-reduction component is significant in the context of the company’s consolidated borrowings of ₹2,909.13 crore as of March 31, 2026. The company has also disclosed borrowings at its subsidiaries that are intended to be partly addressed through the IPO proceeds.
Runwal Enterprises IPO Listing Performance
| Particular | Value |
|---|---|
| Listing Exchange | BSE and NSE |
| Listing Date | October 5, 2026 |
| Issue Price | ₹305 |
| Listing Price | To Be Updated |
| Listing Gain | To Be Updated |
| Listing Gain (%) | To Be Updated |
Runwal Enterprises IPO is scheduled to list on BSE and NSE on October 5, 2026. Since the listing has not yet taken place, the actual listing price and listing gain will be updated after the shares begin trading.
Runwal Enterprises IPO Subscription Status
The Runwal Enterprises IPO is scheduled to open for subscription on September 25, 2026. Therefore, live subscription figures are not available before the issue opens.
Subscription figures will be tracked across QIB, NII and retail investor categories during the IPO bidding period.
Runwal Enterprises IPO Subscription
| Investor Category | Subscription |
|---|---|
| QIB | To Be Updated |
| NII | To Be Updated |
| RII | To Be Updated |
| Employee Category | To Be Updated |
| Total Subscription | To Be Updated |
Subscription figures will be updated after bidding begins on September 25, 2026.
Runwal Enterprises IPO Review
Runwal Enterprises IPO is a ₹500 crore fresh issue from a Mumbai-focused real estate developer. Since the issue is entirely fresh, the funds raised are intended to enter the company’s balance sheet rather than being proceeds from an offer for sale by existing shareholders.
The company has a substantial development pipeline, with 19 completed, 28 ongoing and 33 upcoming projects as of March 31, 2026. The aggregate developable and estimated developable area was 88.37 million square feet. This includes residential projects across affordable, mid-income and luxury segments as well as commercial and retail developments.
Financial performance improved in FY2026. Total income increased to ₹1,850.79 crore from ₹1,050.71 crore in FY2025, while PAT increased from ₹55.65 crore to ₹185.76 crore. EBITDA also increased to ₹349.81 crore from ₹180.11 crore.
At the same time, the company’s consolidated borrowings stood at ₹2,909.13 crore as of March 31, 2026, with a reported debt-to-equity ratio of 3.29. The IPO’s proposed use of proceeds includes ₹325 crore toward debt repayment or prepayment through the company and its subsidiaries.
The company also has considerable geographic concentration in Mumbai. As of March 31, 2026, approximately 66.65% of its total developable area was located in Mumbai. The company is therefore exposed to changes in the Mumbai real estate market, local regulations, construction conditions and property demand.
The unofficial grey market premium was reported around ₹17–₹18 per share on September 23–24, 2026 by third-party sources. GMP is unofficial and unregulated and can change before listing, so it should not be treated as a guaranteed listing price or return.
Runwal Enterprises IPO Strengths
- Established presence in the Mumbai real estate market.
- Portfolio covering affordable, mid-income and luxury residential segments.
- 19 completed, 28 ongoing and 33 upcoming projects as of March 31, 2026.
- Aggregate developable and estimated developable area of approximately 88.37 million square feet.
- Presence across residential, commercial, retail and integrated township developments.
- Use of asset-light structures including Joint Development Agreements and joint ventures.
- In-house capabilities across design, construction, procurement, sales and customer services.
- FY2026 revenue and PAT were substantially higher than FY2025.
- IPO proceeds include a significant allocation toward repayment or prepayment of debt.
Runwal Enterprises IPO Risk Factors
- Significant concentration of projects in Mumbai and the surrounding market.
- Real estate development requires substantial capital and is exposed to financing costs.
- Consolidated borrowings stood at ₹2,909.13 crore as of March 31, 2026.
- The company had 28 ongoing and 33 upcoming projects, creating project execution and completion risks.
- Delays in regulatory approvals or construction could affect project timelines and cash flows.
- The company had 7,072 unsold units as of March 31, 2026 across completed and ongoing projects.
- Several subsidiaries have reported losses or negative net worth.
- Real estate demand may be affected by interest rates, economic conditions and changes in consumer purchasing capacity.
- The company’s significant exposure to Mumbai means adverse local market conditions could materially affect operations.
- The company has disclosed significant contingent liabilities and outstanding legal proceedings in its IPO documents.
Runwal Enterprises IPO Promoters
Subodh Subhash Runwal is identified as the promoter of Runwal Enterprises Limited. The company’s IPO materials also identify Subhash Suganlal Runwal and Chanda Subhash Runwal among the promoter group.
Runwal Enterprises IPO Promoters Details
| Promoter | Designation |
|---|---|
| Subodh Subhash Runwal | Promoter |
| Subhash Suganlal Runwal | Promoter Group |
| Chanda Subhash Runwal | Promoter Group |
The promoter and promoter group holding is reported at approximately 95.16% before the IPO and 78.23% after the issue.
Runwal Enterprises IPO Management Team
| Name | Designation |
|---|---|
| Subodh Subhash Runwal | Managing Director & Chief Executive Officer |
| Abhishek Kumar Jain | Company Secretary & Compliance Officer |
Subodh Subhash Runwal is identified as the Managing Director/CEO in available IPO information. Abhishek Kumar Jain is identified as the Company Secretary and Compliance Officer in the company’s offer-document materials.
Runwal Enterprises IPO Registrar Details
| Particular | Details |
|---|---|
| Registrar Name | MUFG Intime India Pvt. Ltd. |
| Website | MUFG Intime IPO Status |
| IPO Allotment Status | Available through the registrar’s IPO status portal |
| Email ID | [email protected] |
| Contact Number | +91 810 811 4949 |
MUFG Intime India Pvt. Ltd. is the registrar to the Runwal Enterprises IPO. The registrar’s IPO services are used for allotment-status and related issue processing.
Runwal Enterprises IPO Lead Manager Details
| Particular | Details |
|---|---|
| Lead Managers | ICICI Securities Ltd. and Jefferies India Pvt. Ltd. |
ICICI Securities and Jefferies India have been appointed as the book-running lead managers for the Runwal Enterprises IPO.
Runwal Enterprises Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Runwal Enterprises Limited |
| Registered Office | Runwal & Omkar E-Square, 4th Floor, Off Eastern Express Highway, Opp. Sion Chunabhatti Signal, Sion East, Mumbai – 400022, Maharashtra |
| Website | https://runwalenterprises.com/ |
| Email ID | [email protected] |
| Contact Number | +91 22 6116 2422 |
The company’s IPO materials identify its registered and corporate office at Runwal & Omkar E-Square in Sion East, Mumbai, along with the company secretary’s contact details.
How to Check Runwal Enterprises IPO Allotment Status
Through the Registrar
- Visit the official MUFG Intime IPO status portal.
- Select Runwal Enterprises IPO from the available issue list.
- Select the applicable search option such as PAN, Application Number or DP/Client ID.
- Enter the required details.
- Complete the verification process if requested.
- Submit the details to view the allotment status.
Through the Stock Exchange
- Visit the official BSE or NSE website.
- Navigate to the IPO/allotment section.
- Select Runwal Enterprises IPO.
- Enter the required PAN or application details.
- Complete the verification process if required.
- Submit the details to check the allotment status.
Runwal Enterprises IPO Conclusion
Runwal Enterprises IPO is a ₹500 crore mainboard book-built issue comprising 1,63,93,442 fresh equity shares. The price band is ₹290 to ₹305 per share and the lot size is 49 shares. The IPO is scheduled to open on September 25 and close on September 29, 2026, with listing planned for October 5, 2026 on BSE and NSE.
The company has a sizeable Mumbai-focused real estate portfolio covering residential, commercial, retail and integrated developments. As of March 31, 2026, it had 19 completed, 28 ongoing and 33 upcoming projects covering approximately 88.37 million square feet of developable and estimated developable area.
Financially, FY2026 showed a substantial improvement in revenue and PAT, while borrowings remained significant. The IPO proceeds include ₹100 crore for repayment or prepayment of certain company borrowings and ₹225 crore for investments in subsidiaries toward repayment or prepayment of their borrowings.
Investors evaluating the IPO should consider the company’s project pipeline, Mumbai market exposure, debt levels, project execution requirements, unsold inventory, subsidiary performance, valuation and other risk factors disclosed in the RHP.
Runwal Enterprises IPO FAQs
What is the Runwal Enterprises IPO?
Runwal Enterprises IPO is a mainboard book-built IPO of up to ₹500 crore comprising an entirely fresh issue of 1,63,93,442 equity shares.
When will the Runwal Enterprises IPO open?
The Runwal Enterprises IPO is scheduled to open for subscription on September 25, 2026.
When will the Runwal Enterprises IPO close?
The IPO is scheduled to close on September 29, 2026.
What is the Runwal Enterprises IPO price band?
The price band is ₹290 to ₹305 per equity share.
What is the Runwal Enterprises IPO lot size?
The lot size is 49 shares.
What is the minimum investment for the Runwal Enterprises IPO?
At the upper price band of ₹305, the minimum retail investment for one lot of 49 shares is ₹14,945.
What is the Runwal Enterprises IPO allotment date?
The basis of allotment is expected to be finalised on September 30, 2026.
What is the Runwal Enterprises IPO listing date?
The shares are scheduled to list on BSE and NSE on October 5, 2026.
Who is the registrar of the Runwal Enterprises IPO?
MUFG Intime India Pvt. Ltd. is the registrar of the Runwal Enterprises IPO.
Who are the lead managers of the Runwal Enterprises IPO?
ICICI Securities Ltd. and Jefferies India Pvt. Ltd. are the book-running lead managers of the IPO.
