Mumbai-based realtor Runwal Enterprises files DRHP for ₹1,000 Crore IPO

Mumbai-based real estate developer Runwal Enterprises is preparing to debut on BSE and NSE. On March 31st, 2025, the company filed Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board in India (SEBI) to raise ₹1,000 crore through an initial public offering (IPO).

IPO Structure and Details

• The proposed IPO comprises a fresh equity issue of ₹1,000 crores with a face value of ₹5 for each share. 
• The utilisation of net proceeds from the issue is as follows -

• QIBs: Not less than 75% of the issue size 
• Non-Institutional Bidders: Not more than 15% of the issue
• Retail Investors: Not more than 10% of the issue
  
• ICICI Securities Limited and Jefferies India Private Limited are the Book Running Lead Managers, with MUFG Intime India Private Limited is the registrar for the issue. 
• The company might consider a pre-IPO placement for up to ₹200 crores before filing the Red Herring Prospectus with the Registrar of Companies (RoC). If the pre-IPO placement happens, the amount raised will be deducted from the IPO portion allocated for general corporate purposes. 

Utilisation of Funds

The company plans to utilise the funds raised from the Fresh Issue for the following:

• To repay certain outstanding loans and borrowings. 
• To finance the acquisition of future real estate projects
• To invest in its key subsidiaries, including 
• Susneh Infrapark Private Limited, 
• Runwal Residency Private Limited and 
• Evie Real Estate Private Limited, to assist them in repaying their outstanding loans and borrowings. 
• For general corporate needs.

Financial Performance

For the year ended March 31, 2024, the company reported a significant growth in revenue from operations, increasing to ₹662.19 crores, compared to ₹229.49 crores for the year ended March 31, 2023, up 188.52%.

Company Profile

Runwal Enterprises is a leading real estate developer with a diversified portfolio spanning residential projects catering to affordable, mid-income, and luxury segments, commercial spaces, retail malls, and educational buildings. Their portfolio comprises 15 completed projects, 25 ongoing projects, and 32 upcoming projects as of September 30, 2024. 

They have ranked second in terms of new launches and sales, with market shares of approximately 5.69% and 5.25%, respectively, from January 2019 to September 2024. 

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