← Back to IPOs
Runwal Enterprises IPO
📅 Founded: 2016
📍 Mumbai, Maharashtra
🌐 runwalenterprises.com
📋 Face Value: ₹2
🏦 Market Cap: ₹4,507.44 Cr
Price Band
₹290 – ₹305
Issue Size
₹500 Cr
Lot Size
49 shares
Min. Investment
₹14,945
GMP
+₹0 (+0%)
Est. Return
+0%
Listing Date
05 Oct 2026
Registrar
MUFG Intime India
Runwal Enterprises IPO at a glance
Runwal Enterprises IPO was a mainboard issue of ₹500 Cr at a price band of ₹290 – ₹305 per share, open from 25 Sep 2026 to 29 Sep 2026. It was subscribed 2.57 times overall (QIB 4.1x, NII 3.87x, retail 1.07x). The shares listed on BSE, NSE on 05 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +0% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Moderate Interest
2.57x subscribed
Issue Details
Fresh Issue₹500 Cr
Offer for Sale (OFS)Nil
Total Issue Size₹500 Cr
Face Value₹2
Market Cap (at issue)₹4,507.44 Cr
Listing ExchangeBSE, NSE
📅 Open Date25 Sep 2026
🔒 Close Date29 Sep 2026
✂️ Cut-off Price Date29 Sep 2026
🎟️ Allotment Date30 Sep 2026
💸 Refund Initiation01 Oct 2026
📂 Demat Credit01 Oct 2026
📈 Listing Date05 Oct 2026
Objects of the Issue
- 💰 Repayment/prepayment of the company's borrowings
- 💰 Investment in subsidiaries to repay their borrowings
- 💰 General corporate purposes
About the Company
Runwal Enterprises is a Mumbai real-estate developer incorporated in 2016 as part of the Runwal group. It builds residential projects across affordable, mid-income and premium segments, along with some commercial, retail-mall and educational buildings. Most of its land bank is in the Mumbai Metropolitan Region; as of March 2026 it reported 19 completed, 28 ongoing and 33 upcoming projects.
Strengths
- ✅ Among the more active developers in Mumbai by new launches and sales over 2023–2026
- ✅ Large pipeline — ongoing and upcoming residential projects together cover close to 39 million sq ft
- ✅ Design, construction and sales are handled by in-house teams rather than fully outsourced
- ✅ FY26 profit of about ₹186 Cr was more than three times FY25's ₹56 Cr
Risk Factors
- ⚠️ Heavily concentrated in Mumbai — roughly two-thirds of developable area is in one city
- ⚠️ Consolidated debt of about ₹2,900 Cr and debt-to-equity above 3x; most of the IPO money goes to repaying loans
- ⚠️ Income has been lumpy (₹2,437 Cr in FY24, ₹1,051 Cr in FY25, ₹1,851 Cr in FY26), as is common for project-based developers
- ⚠️ Over 7,000 unsold units and approvals still pending for many upcoming projects
- ⚠️ Negative operating cash flow in recent years, some subsidiaries with negative net worth, and large contingent liabilities
Subscription Status
2.57x Overall
QIB: 4.1x
NII: 3.9x
RII: 1.1x
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
95.16%
Pre-IPO
→ -10.5%
84.61%
Post-IPO
Founders & Leadership
SR
Subodh Subhash Runwal
Promoter & Managing Director
Promoter of the company and leads Runwal Enterprises as Managing Director
IPO Timeline
✓
Open Date
25 Sep 2026
✓
Close Date
29 Sep 2026
✓
Allotment Date
30 Sep 2026
✓
Listing Date
05 Oct 2026
Key Financials
Revenue₹1,851 Cr
PAT₹185.8 Cr
EPS₹16.74
P/E Ratio18.22x
ROE27.24%
Market Cap₹4,507.44 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 1850.79 | 1050.71 | 2436.68 |
| Profit After Tax | 185.76 | 55.65 | 93.70 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹16.74 | — |
| P/E (x) | 18.22x | — |
| ROE (%) | 27.24% | — |
| Promoter Holding | 95.16% | 84.61% |
| Market Cap | ₹4,507.44 Cr | |
IPO Registrar
Runwal Enterprises IPO FAQs
Runwal Enterprises IPO is a mainboard IPO with an issue size of ₹500 Cr at a price band of ₹290 – ₹305. Minimum lot size is 49 shares (minimum investment ~₹14,945). Opened on 25 Sep 2026 and closed on 29 Sep 2026. Listed on BSE, NSE. Registrar: MUFG Intime India.