| Price | 290 to 305 |
|---|---|
| GMP Rumors | ₹0 |
| Lot size | 49 |
| Issue size | ₹500.00 Cr |
| Allotment | 30-09-2026 |
| Refund | 01-10-2026 |
| Listing | 05-10-2026 |
| Stars |
★☆☆☆☆ |
| ISIN | INE804W01029 |
| Allotment Status | MUFG |
| Video |  |
BSE List Price : ₹306.00
NSE List Price : ₹305.00
| Category | Times |
|---|---|
| QIBs | 4.10x |
| HNIs | 4.14x |
| Retail | 1.18x | Total : 2.63x |
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 49 | ₹14,945 |
| Retail Maximum | 13 | 637 | ₹194,285 |
| S - HNI Minimum | 14 | 686 | ₹209,230 |
| S - HNI Maximum | 66 | 3,234 | ₹986,370 |
| B - HNI Minimum | 67 | 3,283 | ₹1,001,315 |
Runwal Enterprises Limited is a Mumbai-based real estate development company, incorporated in 2016, and is part of the Runwal Group. The company primarily focuses on residential real estate, along with commercial, retail and integrated developments across the Mumbai Metropolitan Region.
Residential Portfolio: The company develops projects across affordable, mid-income and luxury segments, with affordable housing concentrated in Dombivli, mid-income projects across areas such as Mulund, Kanjurmarg, Bandra, Chembur and Alibaug, and luxury projects in South Mumbai.
Project Portfolio: As of 31 March 2026, the company had 19 completed, 28 ongoing and 33 upcoming projects, with an aggregate developable/estimated developable area of approximately 88.37 million sq. ft.
Development Model: Runwal Enterprises undertakes greenfield developments and also uses joint development agreements, development agreements and other asset-light structures to develop projects.
Market Presence: Between January 2023 and 31 March 2026, the company had approximately 2.46% market share in residential sales and 2.33% in new launches across Mumbai, according to the industry data cited in the IPO documents.
Residential Projects: Affordable, mid-income, premium and luxury residential developments.
Commercial Developments: Office and commercial properties developed as standalone or mixed-use projects.
Retail Developments: Retail spaces and shopping destinations integrated into selected developments.
Integrated Townships: Large-scale developments combining residential, retail, commercial, educational and community infrastructure.
Joint Development Projects: Development through JDAs and other partnerships with landowners and project partners.
Real Estate Development Services: Land acquisition/development rights, project planning, design, construction management, marketing, sales and customer services.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹2436.68 | ₹2279.90 | ₹93.70 | ₹7079.74 |
| 2025 | ₹1050.71 | ₹953.15 | ₹55.65 | ₹8328.14 |
| 2026 | ₹1850.79 | ₹1626.86 | ₹185.76 | ₹10254.50 |
Subodh Subhash Runwal.
Established Mumbai Presence: Runwal Enterprises has an established presence across key Mumbai Metropolitan Region micro-markets, including Dombivli, Kanjurmarg, Mulund, Chembur and South Mumbai.
Large Development Pipeline: The company had 28 ongoing and 33 upcoming projects as of 31 March 2026, providing a substantial future development pipeline.
Diversified Residential Segments: Its residential portfolio covers affordable, mid-income and luxury housing, allowing the company to operate across different customer segments.
Integrated Development Experience: The company has developed large projects combining residential, retail, commercial and other community infrastructure.
Long Operating History of Runwal Group: The Runwal Group has been operating in the real estate sector since 1978, providing an established brand and industry track record.
Expansion Across Premium Markets: The company has expanded beyond its traditional eastern-suburb presence into markets such as Mahalaxmi, Girgaum and Bandra.
Mumbai Market Concentration: As of 31 March 2026, 66.65% of the company's total developable area was located in Mumbai, exposing the business to changes in Mumbai's property demand, regulations, interest rates and local market conditions.
High Ongoing & Upcoming Project Exposure: The 28 ongoing and 33 upcoming projects represented 86.33% of total developable area as of 31 March 2026. Delays, cost overruns, approval issues or construction problems could affect project execution and cash flows.
Unsold Inventory: The company had 7,072 unsold units covering 7.55 million sq. ft. across completed and ongoing projects as of 31 March 2026. Unsold inventory can increase holding, financing and maintenance costs.
Approval & Development Risk: Development plans for all 33 upcoming projects were pending as of the RHP date, making timely approvals important for future launches.
Third-Party Contractor Dependence: The company depends on third-party contractors for construction activities. Contractor delays, labour shortages or quality issues could affect project timelines.
Construction Cost Risk: Changes in the prices of construction materials, labour and other development costs can affect project profitability and completion timelines.
Real Estate Competition: Mumbai has several established developers with significant land reserves, financial resources and customer relationships, creating competition for land, customers and project opportunities.
Brand & Reputation Risk: Customer disputes, negative publicity or issues involving projects operating under the Runwal brand could affect customer confidence and sales.
The current IPO is an entirely fresh issue of up to 1,63,93,442 equity shares, aggregating to approximately 499.83 crore at the final issue structure. There is no Offer for Sale.
Repayment / Pre-payment of Company Borrowings — 100 crore: The company proposes to use 100 crore of the net IPO proceeds for repayment or pre-payment, in full or part, of certain outstanding borrowings of Runwal Enterprises.
Investment in Subsidiaries for Debt Repayment — 225 crore: 225 crore will be invested in the material subsidiaries Runwal Residency Private Limited and Evie Real Estate Private Limited for repayment or pre-payment of their outstanding borrowings. The current disclosures also identify Susneh Infrapark Private Limited within the subsidiary investment structure.
Future Real Estate Project Acquisitions: The remaining net proceeds after the specified debt-related utilisation are proposed to be used for acquisitions of future real estate projects.
General Corporate Purposes: A portion of the remaining proceeds will be utilised for general corporate purposes, subject to applicable regulations.
Runwal Enterprises Ltd.
Runwal & Omkar Esquare, 4th floor, Off:
Eastern Exp Highway, Opp Sion Chunabhatti signal,
Sion-(E), Mumbai City, Mumbai, Maharashtra, India
Mumbai, Maharashtra, 400022
Phone: +91 22 6116 2422
Email: company.secretaries@runwalgroup.in
Website: https://www.runwalenterprises.com/
MUFG Intime India Pvt. Ltd.
Phone: 022-49186000
Email: runwalenterprises.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html