Mumbai-based real estate developer Runwal Enterprises has fixed the price band for its initial public offering at ₹290-₹305 per equity share. According to reports from CNBC TV18, The Hindu BusinessLine, and Business Standard, the public issue will open for subscription on September 25. The IPO comprises entirely a fresh issue of equity shares, with the company raising ₹500 crore at the upper end of the price band. This will be the fourth company to open its IPO on September 25, alongside Snapdeal parent AceVector, German Green Steel and Power, and Orient Cables. All four public issues will close on September 29, while their anchor book portion will open for a day on September 24. The company has also announced that equity shares are proposed to be listed on the BSE and NSE on October 5.
According to Business Standard, Subodh Runwal, chairman and managing director of Runwal Enterprises, stated that the objective of going public is to strengthen the company's balance sheet and for future growth. The company plans to use ₹325 crore of the net fresh issue proceeds to repay debt against total outstanding borrowings of ₹1,144.3 crore availed by the company and its subsidiaries, Runwal Residency and Evie Real Estate, as of July 2026. As of July 2026, Runwal Residency had outstanding borrowings of ₹286.5 crore, while Evie Real Estate had borrowings of ₹356.4 crore. The remaining amount from the net offer will be set aside to fund acquisitions of future real estate projects and for general corporate purposes. After the IPO, net debt-to-equity will come closer to 2 times, with the company targeting further debt reduction beyond the current levels.
According to JLL property consultancy firm, Runwal Enterprises is ranked third in terms of new launches and sales in Mumbai, with approximate market shares of 2.33 per cent and 2.46 per cent respectively between January 2023 and March 31, 2026. The company recorded sales of ₹2,353.50 crore in FY26, up 23.93 per cent year-on-year, with collections during the same period at ₹1,854.61 crore, up 19.17 per cent YoY. Runwal Enterprises launched projects spanning 2 million square feet in FY26 compared to 1.1 million square feet in FY25. The company's ongoing and upcoming project pipeline spans 76.29 million square feet, with 12.09 million square feet already developed.
As reported by CNBC TV18, The Hindu BusinessLine, and Business Standard, Runwal Enterprises has halved the size of its proposed public issue from the earlier ₹1,000 crore and has accordingly revised the objectives of the offer. SEBI approved the company's IPO papers in August 2025, and subsequently, Runwal Enterprises applied to the regulator on August 11 to reduce the issue size. According to Business Standard, Subodh Runwal explained that the draft red herring prospectus was first filed to raise ₹1,000 crore — 18 months ago, but as time progressed, the company assessed cash-flow requirements and secured good partnerships. Since pursuing an asset-light model, a ₹500 crore fund base is more than sufficient at the current point in time.
The company has reserved up to 3.5 crore equity shares for its employees, with these shares to be allotted at a discount of ₹14 per share to the final offer price. Investors can bid for a minimum of 49 shares and in multiples thereof, with the company raising ₹500 crore at the upper end of the price band. Accordingly, retail investors can invest a minimum of ₹14,945, while their maximum investment would be ₹1,94,285. The price band valuing the company at ₹4,507.6 crore represents a significant reduction from the earlier ₹1,000 crore plan filed in March 2025. The Hindu BusinessLine reports that around 50 per cent of the issue has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for retail investors.
