Runwal Enterprises IPO subscribed 21% on Day 1 so far; check latest GMP

Reports coming in for today mention that The initial public offering (IPO) of Mumbai-based real estate developer Runwal Enterprises saw a measured response from market participants on the first day of bidding, with the offering subscribed 21 percent as of 1:45 pm on September 25, according to NSE data.

The firm received bids for 25,51,038 shares against 1,21,11,294 shares available for subscription. Among investor categories, qualified institutional buyers (QIBs) led the demand with 48 percent subscription. The retail portion was subscribed 12 percent, while the non-institutional investor (NII) category saw 8 percent subscription.

Runwal Enterprises shares were trading at a premium of around 2.5 percent over the IPO price in the grey market on the morning of September 25, according to InvestorGain.

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The firm has set the price range for the IPO at Rs 290-305 per share. At the upper end of the price range, the grey market premium indicates an estimated premium of around Rs 7 per share.

Grey market premiums are unofficial indicators and can change during the subscription period. They should not be considered a guarantee of the stock-exchange debut price.

Ahead of the public offering, Runwal Enterprises boosted Rs 148.9 crore from anchor market participants. The firm allotted 48.83 lakh shares to nine institutional market participants at Rs 305 per share, the upper end of the price range.

Tata Mutual Fund emerged as the largest investor in the anchor book, picking up 13.11 lakh shares for Rs 40 crore. Maybank Securities was allotted 8.19 lakh shares worth Rs 25 crore, while Authum Investment and Infrastructure acquired 6.44 lakh shares for Rs 19.6 crore.

The anchor book additionally saw participation from 360 ONE WAM, Sanshi Fund, Founders Collective Fund, Capri Global Capital, Ashika Global Finance and LRSD Securities.

The Subodh Runwal-promoted firm is looking to mobilize Rs 500 crore through the IPO, which consists entirely of a fresh offering of equity shares. The offering opened on September 25 and will close on September 29.

A substantial portion of the proceeds is earmarked for debt reduction. Runwal Enterprises plans to deploy Rs 325 crore towards repayment of borrowings taken by the firm and its subsidiaries, Runwal Residency and Evie Real Estate.

The remaining funds will be used for acquisitions of future real estate projects and general corporate purposes.

As of July 2026, Runwal Enterprises had standalone borrowings of Rs 431.4 crore. Evie Real Estate and Runwal Residency had outstanding borrowings of Rs 356.4 crore and Rs 286.5 crore, respectively.

Runwal Enterprises has a sizeable project pipeline across Mumbai's real estate market. As of March 2026, the firm had 28 ongoing projects spanning 19.88 million square feet, while another 33 projects covering 56.41 million square feet were in the upcoming project pipeline. The developer has completed 19 projects so far.

ICICI Securities and Jefferies India are the book-running lead managers for the Runwal Enterprises IPO.