Runwal Enterprises Limited is a Mumbai-based real estate developer focused on residential, commercial and retail projects across affordable, mid-income and luxury segments, including townships, offices, malls and retail spaces.
As of March 31, 2026, the Company had 19 completed, 28 ongoing and 33 upcoming projects, covering both greenfield and asset-light development models such as JDAs, DAs and JVs.
The Company has 31.96 million sq. ft. of developable area across residential, retail and commercial projects, with a presence across Mumbai’s eastern, central, southern and western suburbs.
Runwal Enterprises follows an asset-light model through redevelopment, JDAs and JVs, while also pursuing mixed-use and plotted development projects to expand its real estate portfolio.
Between CY2023 and Q1 CY2026, the Company launched around 5,875 residential units and sold 6,309 units, ranking third in Mumbai for both new launches and sales.
As of March 31, 2026, the Company, including its subsidiaries, had 1,181 permanent employees, with major functions including construction management, sales and marketing, customer care, accounts and billing, and contracts and procurement.
Runwal Enterprises IPO – Details
| IPO Opening Date | 25 September 2026 |
| IPO Closing Date | 29 September 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,63,93,442 Shares Worth ₹499.83 Crore Fresh Issue: 1,63,93,442 Shares Worth ₹499.83 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹290 – ₹305 per share |
| Market Lot | 49 Shares |
| Min Order | 49 Shares [1 Lot] |
| Employee Discount | ₹14.00 |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Runwal Enterprises IPO – Date Schedule
| IPO Open Date | 25 September 2026 |
| IPO Close Date | 29 September 2026 |
| Basis of Allotment | 30 September 2026 |
| Initiation of Refund | 01 October 2026 |
| Credit of Shares to Demat Account | 01 October 2026 |
| IPO Listing Date | 05 October 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 29, 2026 |
Runwal Enterprises IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 49 | ₹14,945 |
| Retail (Max) | 13 | 637 | ₹1,94,285 |
| S-HNI (Min) | 14 | 686 | ₹2,09,230 |
| S-HNI (Max) | 66 | 3234 | ₹9,86,370 |
| B-HNI (Min) | 67 | 3283 | ₹10,01,315 |
Competitive Strength
- Focus on sustainable development.
- Robust pipeline of ongoing and upcoming projects.
- Expertise in developing large integrated townships.
- Well-established brand and strong market presence.
- Prominent residential real estate developer in Mumbai.
- Ability to sell at premium pricing and during construction.
- Strong project execution capabilities with in-house expertise.
- Experienced Promoter, management team and financial partners.
Company Promoters
- Subodh Subhash Runwal
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹2,436.68 Cr | ₹2,279.90 Cr | ₹93.70 Cr | ₹1,783.65 Cr |
| 31 March 2025 | ₹1,050.71 Cr | ₹953.15 Cr | ₹55.65 Cr | ₹2,312.58 Cr |
| 31 March 2026 | ₹1,850.79 Cr | ₹1,626.86 Cr | ₹185.76 Cr | ₹2,909.13 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| Debt/Equity | 3.29 |
| RoNW | 27.24% |
| EBITDA Margin | 19.44% |
| NAV | 61.43 |
| Price to Book Value | 4.97 |
| Pre IPO | Post IPO | |
| EPS (₹) | 14.14 | 12.57 |
| P/E (x) | 21.57 | 24.26 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Repayment/ pre-payment, in full or in part, of certain outstanding borrowings availed by the Company. | ₹100.00 |
| Investment in the Material Subsidiaries namely Susneh Infrapark Pvt.Ltd. and Runwal Residency Pvt.Ltd. and Subsidiary namely Evie Real Estate Pvt.Ltd., for repayment/ pre-payment, in full or in part, of all or a portion of certain of their outstanding borrowings. | ₹225.00 |
| Funding acquisitions of future real estate projects and general corporate purposes. |
Runwal Enterprises IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Oberoi Realty Limited | 25.88 |
| 2 | 10 | Lodha Developers Limited | 33.42 |
| 3 | 5 | Godrej Properties Limited | 27.53 |
| 4 | 1 | Sunteck Realty Limited | 21.09 |
| 5 | 10 | Keystone Realtors Limited | 56.96 |
| 6 | 10 | Prestige Estates Projects Limited | 51.70 |
| 7 | 10 | Kalpataru Limited | 57.66 |
✅Strengths
- Strong Mumbai Presence with established market position.
- Established Brand with a long-standing Runwal Group legacy.
- Large Project Pipeline with 19 completed, 28 ongoing and 33 upcoming projects.
- Diversified Portfolio across residential, commercial and retail segments.
- Asset-Light Model through JDAs, DAs and JVs.
⚠️Risks
- Mumbai Concentration with 66.65% of projects located in Mumbai.
- Market Risk from changes in real estate demand and economic conditions.
- Execution Risk from project delays and cost overruns.
- Supplier Concentration with high dependence on top suppliers.
- Regulatory Risk from changing regulations and compliance requirements.
Runwal Enterprises IPO Promoter Holding
| Pre Issue Share Holding | 95.16% |
| Post Issue Share Holding | 84.61% |
Runwal Enterprises IPO Prospectus
Company Contact Information
| Runwal Enterprises Ltd. Runwal & Omkar Esquare, 4th floor, Off: Eastern Exp Highway, Opp Sion Chunabhatti signal Sion-(E), Mumbai, Maharashtra, 400022 Phone: +91 22 6116 2422 Email: company.secretaries@runwalgroup.in Website: https://runwalenterprises.com/ |
Runwal Enterprises IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: 022-49186000 Email: runwalenterprises.ipo@in.mpms.mufg.com Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Runwal Enterprises IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Jefferies India Private Limited |
Runwal Enterprises IPO FAQs
| What is the Runwal Enterprises IPO? Runwal Enterprises IPO is a main-board IPO. The issue is priced at ₹290 to ₹305 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Runwal Enterprises IPO open? The IPO is to open on 25 September 2026 for QIB, NII, and Retail Investors. |
| What is Runwal Enterprises IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Runwal Enterprises IPO Size? Runwal Enterprises IPO size is ₹499.83 Crore. |
| What are the Runwal Enterprises IPO Minimum and maximum lot sizes for Retail? The minimum bid is 49 Shares with ₹14,945, while the maximum bid is 637 Shares with ₹1,94,285. |
| What is the Runwal Enterprises IPO Allotment Date? Runwal Enterprises IPO allotment date is 30 September 2026. |
| What is the Runwal Enterprises IPO Listing Date? Runwal Enterprises IPO listing date is 05 October 2026. The IPO is to be listed on the BSE and the NSE. |
