Mumbai: Mumbai-based real estate developer Runwal Enterprises Limited will launch its ₹500-crore initial public offering on September 25, in India’s primary market.
The company has fixed the IPO price band at ₹290–₹305 per equity share. Public subscription will begin on September 25 and close on September 29.
Runwal Enterprises shares are proposed to list on the BSE and NSE on October 5, subject to allotment and regulatory requirements.
Entire IPO Is A Fresh Issue
The ₹500-crore public offering consists entirely of newly issued equity shares, meaning the proceeds will flow directly to the company. There is no offer-for-sale component involving existing shareholders.
Runwal Enterprises has halved the size of the IPO from its earlier proposal. The real estate company had initially planned to raise ₹1,000 crore exclusively through a fresh issue of shares.
How The Company Will Use Funds
Runwal Enterprises plans to deploy part of the IPO proceeds towards repaying debt. Funds will also support the acquisition of future real estate projects and meet general corporate requirements.
The proposed deployment could help strengthen the developer’s balance sheet while providing growth capital for expanding its property portfolio.
Investor Reservation Explained
Qualified institutional buyers will receive 50 per cent of the net offer. Non-institutional investors have been allocated 15 per cent, while the remaining 35 per cent is reserved for retail investors.
Runwal Enterprises develops residential properties across affordable, mid-income and luxury housing categories. Its portfolio also includes commercial spaces, shopping malls and educational properties, giving the company exposure to multiple segments of India’s property market.
Issue Managers And Registrar
ICICI Securities and Jefferies India are serving as the book-running lead managers for the Runwal Enterprises IPO. MUFG Intime India has been appointed registrar and will oversee application processing, share allotment and investor-related services for the public issue.
