Real estate developer to raise up to INR 500 crore through fresh issue; IPO opens September 25
Runwal Enterprises Limited has fixed the price band for its initial public offering (IPO) at INR 290 to INR 305 per equity share of face value INR 2. The IPO will open for subscription on September 25, 2026 and close on September 29, 2026.
The issue comprises an entirely fresh issue of equity shares aggregating up to INR 500 crore. The company plans to list its equity shares on the NSE and BSE. ICICI Securities and Jefferies India are the book-running lead managers, while MUFG Intime India is the registrar to the offer.
Runwal Enterprises, incorporated in 2016, operates across residential and non-residential real estate, with a portfolio spanning affordable, mid-income and luxury housing, commercial spaces, retail malls and educational buildings. The company has a presence across Mumbaiโs eastern, central, peripheral central, south central and western suburbs, besides projects near Alibaug.
As of March 31, 2026, the developer had 88.37 million sq ft of total developable and estimated developable area across 19 completed, 28 ongoing and 33 upcoming projects. Its residential portfolio accounted for 74.58 million sq ft, while its non-residential portfolio stood at 13.80 million sq ft.
The company has historically focused on affordable and mid-income housing, with projects including Runwal Gardens in Dombivli and Runwal Greens in Mulund West. It has subsequently expanded into luxury residential developments, including 7 Mahalaxmi and Girgaum, while also expanding towards western Mumbai and areas outside the MMR, including Alibaug.
Runwal Enterprises currently has ongoing projects with an aggregate developable area of 19.88 million sq ft and upcoming projects with an estimated developable area of 56.41 million sq ft, located across Mumbaiโs eastern, northern, western and central suburbs and near Alibaug.
The company reported revenue from operations of INR 1,798.9 crore in FY26, compared with INR 1,007.7 crore in FY25. Net profit increased to INR 185.7 crore in FY26 from INR 55.6 crore in FY25.
The company has also been expanding its development model through joint development agreements, development agreements and joint ventures.
