Runwal Enterprises IPO

Status: Preopen
RHP:
BSE, NSE

₹ 14,210 / 49 shares
Minimum Investment

Runwal Enterprises IPO Details

Open Date
25 Sep 2026
Close Date
29 Sep 2026
IPO Price Range
₹ 290 to ₹305
IPO Size
₹ 500 Cr

Pre-apply for Runwal Enterprises IPO

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Runwal Enterprises IPO Timeline

Bidding starts
25 Sep 2026
Bidding ends
29 Sep 2026
Allotment finalisation
30 Sep 2026
Refund initiation
01 Oct 2026
Demat transfer
01 Oct 2026
Listing
05 Oct 2026

About Runwal Enterprises

Last Updated: 22 September 2026 4:42 PM by 5paisa

Runwal Enterprises Limited is a Mumbai-based real estate developer engaged primarily in residential development across affordable, mid-income and luxury housing. Its portfolio also extends to commercial spaces, retail malls and educational buildings. The business undertakes projects through land ownership as well as development arrangements and other asset-light structures.

Its portfolio spans Mumbai's eastern, central, south-central and western suburbs, along with integrated township developments in Kalyan-Dombivli. The company is also expanding its presence through redevelopment and related real estate opportunities.

As of 31 March 2026, its portfolio comprised 19 completed projects, 28 ongoing projects and 33 upcoming projects. Between January 2023 and March 2026, Runwal Enterprises ranked third in Mumbai by both new launches and sales among the developers considered in the industry assessment, with market shares of approximately 2.33% and 2.46%, respectively. It also had a sizeable presence in the eastern suburbs and Kalyan-Dombivli micro-markets.

Established in: 2016

Chairman and Managing Director: Subodh Subhash Runwal

Peers:

Metric	Runwal Enterprises Limited*	Oberoi Realty Limited	Lodha Developers Limited	Godrej Properties Limited	Prestige Estates Projects Limited	Kalpataru Limited
Revenue from Operations (₹ million)	17989.49	60090.60	166762.00	51314.30	126854.00	34356.20
Face Value per Equity Share (₹)	2.00	10.00	10.00	5.00	10.00	10.00
Closing Price on September 18, 2026 (₹)	N.A.	1785.00	1144.70	1691.10	1435.10	274.45
P/E (x)	N.A.	25.88	33.42	27.53	51.70	57.66
EPS Basic (₹ per share)	16.74	68.96	34.34	61.43	27.76	4.76
EPS Diluted (₹ per share)	16.74	68.96	34.25	61.42	27.76	4.76
RoNW (%)	27.24	13.99	14.73	9.61	8.02	1.94
NAV (₹ per share)	61.43	492.89	233.11	635.96	377.80	199.91

Runwal Enterprises Objectives

Runwal Enterprises proposes to utilise the Net Proceeds towards:

1. Repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the company.

2. Investment in wholly owned material subsidiaries Runwal Residency Private Limited and Evie Real Estate Private Limited for repayment or pre-payment of a portion of their outstanding borrowings.

3. Funding acquisitions of future real estate projects.

4. General corporate purposes.

Approximately ₹100 crore is proposed to be used towards repayment or pre-payment of the company's borrowings. A further ₹225 crore is proposed to be invested in Runwal Residency and Evie Real Estate for repayment or pre-payment of their borrowings.

Runwal Enterprises IPO Size

Types	Size
Total IPO Size	₹500 Cr
Offer For Sale	-
Fresh Issue	₹500 Cr

Runwal Enterprises IPO Lot Size

Application	Lots	Shares	Amount (₹)
Retail (Min)	1	49	₹14210
Retail (Max)	13	637	₹194285
S-HNI (Min)	14	686	₹198940
S-HNI (Max)	66	3234	₹986370
B-HNI (Min)	67	3283	₹952070

Runwal Enterprises Financial Status

Balance Sheet

Total Liabilities
Share Capital
Total Assets

Particulars (In ₹ Crores)	FY24	FY25	FY26
Revenue	2408.87	1007.77	1798.95
EBITDA	201.62	180.09	349.72
PAT	75.49	91.20	250.74

Particulars (In ₹ Crores)	FY24	FY25	FY26
Total Assets	7079.74	8328.14	10254.50
Share Capital	25.01	25.01	25.01
Total Liabilities	7079.74	8328.14	10254.50

Particulars (In ₹Crores.)	FY24	FY25	FY26
Net Cash Generated From / (used in) Operating Activities	-549.48	-198.14	-180.71
Net Cash Generated From / (used in) Investing Activities	251.49	-167.67	-213.23
Net Cash Generated From / (used in) Financing Activities	351.81	309.76	496.01
Net Increase (Decrease) in Cash and Cash Equivalents	53.81	-56.04	102.07

Runwal Enterprises IPO SWOT Analysis

Strengths

1. Established Mumbai-focused real estate platform with operations across affordable, mid-income and luxury residential housing, along with commercial, retail and educational developments.

2. Portfolio scale increased to 19 completed, 28 ongoing and 33 upcoming projects as of 31 March 2026.

3. Ranked third in Mumbai by both new launches and sales between January 2023 and March 2026 among the developers assessed in the industry report.

4. Strong presence in the eastern suburbs of Mumbai and the Kalyan-Dombivli micro-market.

5. Experience in integrated township development, conventional land-led projects and asset-light development arrangements.

Weaknesses

1. Operations remain substantially concentrated in Mumbai and surrounding micro-markets, increasing exposure to regional real estate conditions.

2. The business carries sizeable borrowings, with debt repayment forming a major component of the IPO's use of proceeds.

3. Real estate development requires significant capital and working capital and can result in uneven cash generation between financial periods.

4. Revenue recognition can vary materially depending on project completion, possession and the timing of unit sales.

5. Average selling price declined to ₹11,366 per sq ft in FY26 from ₹11,754 per sq ft in FY25 despite an increase in saleable area.

Opportunities

1. A pipeline of 28 ongoing and 33 upcoming projects provides scope for expansion of future sales and project deliveries.

2. Expansion into redevelopment and other asset-light structures may allow the company to add projects without relying solely on outright land acquisition.

3. Infrastructure improvements and redevelopment activity across the Mumbai Metropolitan Region can support new residential and mixed-use opportunities.

4. Reduction in borrowings through IPO proceeds can lower leverage and provide greater flexibility for future project acquisitions.

5. The company's presence across multiple residential price segments allows it to address different homebuyer categories.

Threats

1. Residential real estate demand is sensitive to interest rates, affordability, economic conditions and homebuyer sentiment.

2. Delays in regulatory approvals, construction or project completion can affect revenue recognition, collections and project economics.

3. Rising land, construction, labour and financing costs can pressure project margins.

4. Competition from established listed and unlisted developers for land, redevelopment projects and homebuyers remains significant in Mumbai.

5. Concentration in the Mumbai market leaves the company exposed to local regulatory, infrastructure and demand-related changes.

Why Invest in Runwal Enterprises IPO?

1. Runwal Enterprises has an established operating presence across multiple residential segments in Mumbai and surrounding markets.

2. The project portfolio comprised 19 completed, 28 ongoing and 33 upcoming developments as of 31 March 2026.

3. Consolidated sales value increased 24% to ₹2,353.5 crore in FY26 from ₹1,899 crore in FY25, while saleable area increased to 2.07 million sq ft from 1.62 million sq ft.

4. The IPO is entirely a fresh issue, with ₹325 crore of the Net Proceeds earmarked for repayment or pre-payment of borrowings at the company and specified subsidiaries.

5. The business is expanding through future project acquisitions and redevelopment opportunities alongside its existing land-led development model.

Runwal Enterprises Industry Landscape and Growth Potential

Mumbai and the wider Mumbai Metropolitan Region remain among India's largest residential real estate markets, supported by urbanisation, infrastructure investment, redevelopment activity and demand for organised housing. Large developers are also increasingly using joint development, redevelopment and other asset-light structures to expand their project pipelines while managing the capital required for outright land purchases.

Runwal Enterprises has built a particularly significant presence in eastern Mumbai and Kalyan-Dombivli. Between January 2023 and March 2026, it ranked third in Mumbai for both new launches and sales among the developers considered in the industry assessment. Its market share was approximately 2.33% of launches and 2.46% of sales during the period. Within the eastern suburbs, it recorded approximately 2.89% of launches and 7.88% of sales, while in Kalyan-Dombivli it accounted for approximately 11.41% of launches and 6.33% of residential sales. Its ongoing and upcoming project pipeline provides scope to participate in continued housing and redevelopment activity across these markets.