Runwal Enterprises Gets SEBI Nod for Rs.1,000 Crore IPO

Runwal Enterprises Gets SEBI Nod for Rs.1,000 Crore IPO

Runwal Enterprises Gets SEBI Nod for Rs.1,000 Crore IPO

Runwal Enterprises Gets SEBI Nod for Rs.1,000 Crore IPO

Introduction

Mumbai-based developer Runwal Enterprises has secured approval from the Securities and Exchange Board of India (SEBI) to raise Rs.1,000 crore through an initial public offering (IPO). The issue will be a fresh equity share sale, with no offer-for-sale component, aimed at supporting the company’s expansion and strengthening its balance sheet.

Key Highlights

  • IPO Structure: Fresh issue of equity shares, face value Rs.2 each. No OFS component.

  • Allocation: 75% reserved for Qualified Institutional Buyers, 15% for non-institutional bidders, and 10% for retail investors. Employee quota will include a discount.

  • Pre-IPO Placement: Provision for raising up to Rs.200 crore before the IPO, with adjustment in fresh issue size if exercised.

  • Company Portfolio:

    • 15 completed projects, 25 ongoing, and 32 upcoming as of Sept 2024.

    • 48.71 million sq. ft. total developable and estimated developable area.

    • Diversified presence across residential, commercial, retail, and educational segments.

  • Market Share:

    • Ranked second in Mumbai (2019–2024) with ~5.7% share in launches and ~5.3% in sales.

    • Held dominant share in Kalyan-Dombivli with ~18% of sales and ~21% of new launches.

  • Financial Performance:

    • FY24 revenues: ?662.19 crore, up 188% YoY.

    • FY24 PAT: ?107.28 crore.

    • H1 FY25 revenues: ?270.52 crore; PAT: ?25.53 crore.

  • Listing & Management: To be listed on BSE and NSE. Managed by ICICI Securities and Jefferies India, with MUFG Intime India as registrar.

How Runwal Compares with Recent Real Estate IPOs

In the past year, several Mumbai-based real estate developers have tapped capital markets. Here’s a quick comparison of their IPO listings and performance:

CompanyListing DateIssue Price (Band)Listing PriceCurrent Price (Aug 22, 2025)
Kalpataru LimitedJuly 1, 2025?387 – ?414?414?418.45 (approx, near flat)
Sri Lotus DevelopersAug 6, 2025?140 – ?150~?178–179~?182 (stable post listing)
Arkade Developers LtdSep 24, 2024?121 – ?128?165.85?183.05
Keystone Realtors (Rustomjee)Nov 24, 2022?514 – ?541?555–558.7?650.60
Runwal EnterprisesUpcomingTo be announced

This table highlights the strong appetite for real estate equities, with most listings sustaining or growing above their issue price, despite market fluctuations.

Expert Opinion – Sandeep Sadh, Mumbai Property Exchange

“The SEBI nod for Runwal Enterprises’ IPO highlights the growing confidence in Mumbai’s real estate sector. Developers with diversified portfolios and strong track records are increasingly turning to capital markets for growth capital. Runwal’s presence across affordable, mid-income, and luxury housing, along with its expansion into commercial and retail spaces, positions it strongly.

A listed company also comes under the scrutiny of SEBI and multiple government bodies, which ensures stronger compliance and transparency. For homebuyers, this means higher confidence, as the developer is accountable not only to customers but also to public investors.”

Closing Note

With this IPO clearance, Runwal Enterprises joins a growing league of Mumbai developers tapping capital markets amid record housing demand. For homebuyers, investors, and market watchers, the listing will provide fresh insights into the city’s real estate growth trajectory.

 
About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/