Runwal Enterprises to launch Rs 500-crore IPO on September 25; price band set at Rs 290–305

Reports coming in for today mention that Subodh Runwal-promoted Runwal Enterprises, the Mumbai-based real estate developer, has decided to open its Rs 500 crore maiden public offering for subscription on September 25.

The price range for the offer has been set at Rs 290–305 per share, valuing the firm at Rs 4,507.6 crore.

The IPO comprises entirely a fresh offering of equity shares. The offer size has been halved from the Rs 1,000 crore scheduled earlier at the time of filing the draft offer document in March 2025, which was subsequently approved by SEBI in August 2025.

This will be the fourth firm to open its initial public offering (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. Share allotment is anticipated to be finalised by September 30, while trading in their shares is anticipated to commence on October 5.

Runwal Enterprises has reserved up to 3.5 crore equity shares for its employees. These shares will be allotted to employees at a discount of Rs 14 per share to the final offer price.

Market participants can bid for a minimum of 49 shares, with subsequent bids to be made in multiples of 49 shares. Accordingly, retail market participants can invest a minimum of Rs 14,945, while their maximum investment would be Rs 1,94,285.

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Runwal Enterprises intends to use Rs 325 crore of the net offering proceeds to repay debt against total outstanding borrowings of Rs 1,144.3 crore availed by the firm and its subsidiaries, Runwal Residency and Evie Real Estate, as of July 2026.

The remaining amount from the net offer will be set aside to fund acquisitions of future real estate projects and for general corporate purposes.

As of March 2026, Runwal Enterprises had completed 19 real estate projects. It had 28 ongoing projects with 19.88 million square feet of developable area and 33 upcoming projects with 56.41 million square feet of developable area.

On the financial front, the real estate firm noted a earnings of Rs 185.8 crore for the year ended March 2026, more than three times the Rs 55.6 crore noted in the previous year. Topline during the same period soared 78.5 percent to Rs 1,798.9 crore from Rs 1,007.8 crore.

ICICI Securities and Jefferies India have been appointed as the merchant bankers to manage the Runwal Enterprises IPO.