Runwal Enterprises IPO
RUNWALENTR · BSE, NSE · Mainboard · Construction - Real Estate
Overview
Updated 12 days agoRunwal Enterprises Limited is a prominent Mumbai-based real estate developer specializing in residential projects across affordable, mid-income, and luxury segments. The company also develops commercial, retail, and educational properties, leveraging a mix of greenfield and asset-light joint development models.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 49 | ₹14,945 |
| Retail (max) | 13 | 637 | ₹1,94,285 |
| sNII (min) | 14 | 686 | ₹2,09,230 |
| bNII (min) | 67 | 3,283 | ₹10,01,315 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 31 Oct, 16:42 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 5 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE, NSE |
| Segment | Mainboard |
| Sector | Construction - Real Estate |
| Price band | ₹290–305 |
| Final issue price | ₹305.00 |
| Face value | ₹2 per share |
| Lot size | 49 shares |
| Minimum investment | ₹14,945 |
| Issue size | ₹500 Cr |
| Fresh issue | ₹500 Cr |
| P/E at upper band | 18.2x |
| Registrar | MUFG Intime India Private Limited |
| NSE symbol | RUNWALENTR |
| ISIN | INE804W01029 |
Fresh issue vs offer for sale
Shareholder quota and promoter holding
Company & business
Runwal Enterprises Limited is a well-established real estate developer with a significant presence in the Mumbai Metropolitan Region. Tracing its origins to the legacy Runwal group established in 1978, the company focuses on residential developments, including integrated townships, alongside commercial and retail spaces. As of March 31, 2026, the company has a portfolio of 19 completed, 28 ongoing, and 33 upcoming projects. It employs a systematic five-step development process and utilizes both in-house expertise and strategic partnerships to execute projects. The company is currently expanding its geographic footprint within Mumbai and into peripheral areas like Alibaug, aiming to capitalize on infrastructure growth and urbanization trends.
Objects of the issue — how the money will be used
- Repayment/pre-payment of certain outstanding borrowings of the Company (₹100 Cr)
- Investment in material subsidiaries for repayment/pre-payment of their borrowings (₹225 Cr)
- Funding acquisitions of future real estate projects and general corporate purposes
Key strengths
- Prominent residential real estate developer in Mumbai
- Well-established brand with a legacy since 1978
- Robust pipeline of ongoing and upcoming projects
- Ability to command premium pricing in key micro-markets
- Unique core competency in developing large integrated townships
- Strong project execution capabilities
- Experienced promoter and senior management team
Key risks
- High geographic concentration of projects in Mumbai
- Significant reliance on ongoing and upcoming projects for future growth
- Potential for project delays and cost overruns
- Large volume of unsold inventory across completed and ongoing projects
- Cyclical nature of the real estate industry
- Substantial contingent liabilities
- Dependence on third-party contractors and suppliers
Promoters
Subodh Subhash Runwal
Decoded from the RHP with AI on 01-Nov-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 2,408.87 | -- | 93.70 | 7,079.74 | 415.67 | 1,783.65 |
| FY25 | 1,007.77 | -- | 55.65 | 8,328.14 | 509.63 | 2,312.58 |
| FY26 | 1,798.95 | -- | 185.76 | 10,254.50 | 833.54 | 2,909.13 |
Key performance indicators · FY26
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| Runwal Enterprises this issue | 1,799.0 | 16.74 | 18.2x | 27.24 | 61.43 |
| Oberoi Realty Limited | 6,009.1 | 68.96 | 25.9 | 13.99 | 492.89 |
| Lodha Developers Limited | 16,676.2 | 34.34 | 33.4 | 14.73 | 233.11 |
| Godrej Properties Limited | 5,131.4 | 61.43 | 27.5 | 9.61 | 635.96 |
| Sunteck Realty Limited | 1,123.9 | 13.94 | 21.1 | 5.60 | 245.92 |
| Keystone Realtors Limited | 2,634.5 | 6.25 | 57.0 | 3.32 | 226.82 |
| Prestige Estates Projects Limited | 12,685.4 | 27.76 | 51.7 | 8.02 | 377.80 |
| Kalpataru Limited | 3,435.6 | 4.76 | 57.7 | 1.94 | 199.91 |
This issue is priced at 18.2x P/E against a peer median of 33.4x: a discount of 45%. A measurement, not a verdict.
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Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.