Files for Mumbai -based Runwal Enterprises Files IN 1,000 crore IPO

Of Mumbai Real estate Runwal Enterprises Limited, Developer, has filed its draft Red Herring Prospectus (DRHP) Securities and Exchange Board of India (SEBI) To increase ₹ 1,000 crore through one initial public offering,

The IPO has a completely recent issue, with ₹ 2 per share and no proposal-selling component. The company can consider pre-IPO placements up to 200 crores, which will reduce the size of the new issue accordingly.

According to DRHP, income will be used for repayment of credit (₹ 200 crore), investment in subsidiaries for their loan repayment () 450 crore), future funding acquisition Real estate Projects, and general corporate objectives.

Runwal Enterprises specialize in commercial places and retail malls as well as residential projects in cheap, mid-or luxury segments. The company ranks second in new launch and sales in Mumbai between January 2019 and September 2024, with market shares of 5.69 percent and 5.25 percent respectively.

The company’s financial performance shows significant improvement, integrated revenue increased by 188.55 percent in fiscal 2023, which is FY 229.49 crore in FY 2024.

ICICI Securities and Jeffers India are serving as a book-hanging lead manager for India, which will allot at least 10 percent to eligible institutional buyers, up to 15 percent to non-institutional bidders, and retail investors. The shares will be listed on both BSE and NSE.