Runwal Enterprises IPO
LISTEDMAINBOARDListing Performance
▲ 0.00%
Issue Price
₹305
Listing Price
₹305
Listed On
05 Oct 2026
- Price Band
- ₹290 – ₹305
- Lot Size
- 49
- Lot Value
- ₹14,945
- Open Date
- 25 Sep25 Sep 2026
- Close Date
- 29 Sep29 Sep 2026
- Min Investment
- ₹14,945
About Runwal Enterprises
Real estate development company that designs, constructs and sells residential, commercial and retail projects primarily in Mumbai through third-party contractors.
Use of IPO Proceeds
Total allocation: ₹325.00 Cr (excludes issue expenses)
Promoters
Subodh Subhash Runwal
Pre-issue: 80.89%
Investment Analysis
Quick Analysis: 4 strengths · 6 risk factors· Exchange: Equity
Strengths (4)
- •Large portfolio of 80 projects with 88.37 million square feet of developable area as of March 31, 2026
- •Strong geographic presence with significant expansion outside Mumbai into 29.48 million square feet
- •Substantial pipeline with 28 Ongoing Projects and 33 Upcoming Projects representing 86.33% of total developable area
- •High insurance coverage at 82.68% of total assets as of Fiscal 2026
Risk Factors (6)
- •66.65% of real estate projects located in Mumbai as of March 31, 2026, exposing company to localized economic, regulatory, and natural disaster risks affecting Mumbai real estate market performance.
- •Pre-sale funding model creates risks if projects delayed beyond contractual periods, requiring refunds and alternative financing. 170 agreements cancelled in Fiscal 2026 involving ₹923.07 million.
- •7,072 unsold units across completed and ongoing projects with 7.55 million sq ft unsold inventory risks inability to sell within expected timelines negatively affecting financial condition.
- •Joint venture and collaborative projects with third parties involve risks regarding project completion, financial obligations satisfaction, and operational control over eight projects.
- •Non-GAAP financial measures used may not be comparable to other companies' measures and involve inherent measurement challenges lacking standard industry methodology.
- •Extensive RERA compliance requirements including project completion timelines, delay compensation obligations, and five-year construction defect warranties creating regulatory and financial exposure.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 2.50x (QIB 3.89x, NII 3.93x, Retail 1.12x) at close
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | 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 | 3,234 | ₹9,86,370 |
| B-HNI (min) | 67 | 3,283 | ₹10,01,315 |
Subscription Status
| Category | Day 1 | Day 4 | Day 5 |
|---|---|---|---|
| QIB | 0.96x | 1.05x | 3.89x |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 0.17x | 0.40x | 1.12x |
| Total | 0.42x | 0.69x | 2.50x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
1.12x
Allotment Ratio
1 lot per 2 applicants
Allotment Probability
~89.3%
Non-Institutional Investors (NII / HNI)
Subscription
3.93x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
3.89x
Allotment Type
Discretionary allotment
Total Subscription
2.50x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
25 Sep 2026 · Fri
Issue Closes
29 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
29 Sep 2026 · 5:00 PM IST
Allotment
30 Sep 2026 · Wed
Listing
05 Oct 2026 · Mon
Issue Opens
25 Sep 2026 · Fri
Issue Closes
29 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
29 Sep 2026 · 5:00 PM IST
Allotment
30 Sep 2026 · Wed
Listing
05 Oct 2026 · Mon
IPO Details
| Registrar | MUFG Intime India Private Limited |
| Exchange | Equity |
| ISIN | — |
| Face Value | ₹2 |
| Issue Size | ₹500.00 Cr |
| Fresh Issue | ₹500.00 Cr |
| OFS Size | — |
| Lead Managers | ICICI Securities Limited, Jefferies India Private Limited |
3-Year Financial Summary
Revenue trend
↓ FY24→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 1,798.95 | 185.76 | — | — | — |
| FY25 | 1,007.77 | 55.65 | — | — | — |
| FY24 | 2,408.87 | 93.7 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | 2,436.68 | 1,050.71 | 1,850.79 |
| EBITDA | 201.73 | 180.11 | 349.81 |
| Cash Flow — Operating | -549.48 | -198.14 | -180.71 |
| Cash Flow — Investing | 251.49 | -167.67 | -213.23 |
| Cash Flow — Financing | 351.81 | 309.76 | 496.01 |
From the company's offer document (DRHP/RHP); restated figures where available.
Check the valuation yourself
Company Fundamentals
12 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in Runwal Enterprises's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Runwal Enterprises's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Runwal Enterprises's filing.
Source: Runwal Enterprises offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Runwal Enterprises offer document (DRHP/RHP).
Board & Management
Board of Directors (6)
- Subodh Subhash Runwal
Chairman and Managing Director
Promoter and founder of the Company
- Lucy Roychoudhury
Executive Director
Chief Executive Officer of Evie Real Estate Private Limited
- Pradumna Kanodia
Executive Director
Chief Executive Officer – Commercial of Evie Real Estate Private Limited
- Mukesh Gupta₹0.10 Cr p.a.
Non-Executive Independent Director
Bachelor's degree in science from Rajasthan University; Master's degree in business administration from Sikkim Manipal University
38 years of experience in the insurance sector; previously served as managing director in central office of Life Insurance Corporation of India, Mumbai
- Sidharath Kapur₹0.09 Cr p.a.
Non-Executive Independent Director
Bachelor's degree in commerce (honours course) from University of Delhi; Member of Institute of Chartered Accountants of India and Institute of Company Secretaries of India
26 years of experience in airports, renewable energy and finance sector; previously associated with GMR Airports Limited, Petronet India Limited, Adani Enterprises Limited
- Aparna Chaturvedi₹0.10 Cr p.a.
Non-Executive Independent Director
Bachelor's degree in science and Master's degree in business administration from Lucknow University
29 years of experience in finance, fund management, sales, and marketing; previously associated with UTI Asset Management Company Limited
Key Managerial Personnel (2)
- Shashi Bhushan₹1.46 Cr p.a.
Chief Financial Officer
Bachelor's degree in technology (mechanical engineering) from Indian Institute of Technology, Delhi; Post graduate diploma in management from Indian Institute of Management, Ahmedabad
21 years of experience in corporate financing, fund raising advisory and strategy; previously associated with Indian Oil Corporation Limited, Accenture Services Private Limited, Kotak Mahindra Capital Company Limited
- Abhishek Kumar Jain₹0.44 Cr p.a.
Company Secretary and Compliance Officer
Bachelor's degree in science from Dr. Hari Singh Gour Vishwavidyalaya, Sagar; Bachelor's degree in law from University of Mumbai; Final examination for master's degree in business administration from Barkatullah Vishwavidyalaya, Bhopal; Member of Institute of Company Secretaries of India
14 years of experience in corporate secretarial, legal and compliance; previously associated with Aamby Valley City Limited, Sahara Hospitality Limited
Source: Runwal Enterprises offer document (DRHP/RHP).
Industry & Market
Ranked 4th in new launches and 1st in sales in Eastern Suburbs submarket (2.89% of launches, 7.88% of sales); Ranked 1st in new launches and 2nd in sales in Kalyan-Dombivli (11.41% of launches, 6.33% of sales)
Per JLL — Overview of India's Real Estate Market, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Runwal Enterprises Limited | — | 16.74 | 27.24 | 61.43 |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Civil | Group | 1 | 40.805 |
| Civil | Group | 1 | 208.6 |
| Civil | Company | 1 | 9.1 |
| Statutory | Company | 1 | 0.127 |
| Statutory | Company | 1 | — |
Arbitration by Gammon India Limited for Civil & Structural works at Runwal Greens project Counter claim by Runwal Homes Private Limited against Gammon India Limited Dispute with vendor pending with court of law Disputes with customers under RERA and MSMED Act, 2006 GST notice for non-display on receipt voucher; liability unquantifiable
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:MUFG Intime India Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Runwal Enterprises IPO opening?
The Runwal Enterprises IPO opens on 25 Sep 2026 and closes on 29 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Runwal Enterprises IPO?
The price band for the Runwal Enterprises IPO is ₹290 to ₹305. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Runwal Enterprises IPO?
The minimum lot size is 49 shares with a minimum investment of ₹14,945. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Runwal Enterprises IPO today?
The latest Grey Market Premium for Runwal Enterprises is ₹0 (+0.00%). GMP is unofficial data and is not a guarantee of listing price.
When will the Runwal Enterprises IPO list on NSE and BSE?
The Runwal Enterprises IPO is expected to list on 05 Oct 2026 on Equity. Actual listing day trading begins at the start of the normal market session.
How can I check the Runwal Enterprises IPO allotment status?
The registrar for this IPO is MUFG Intime India Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Runwal Enterprises IPO a mainboard or SME issue?
Runwal Enterprises is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Runwal Enterprises IPO?
You can apply for the Runwal Enterprises IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Runwal Enterprises IPO?
The GMP-implied price (unofficial, not a forecast) is ₹305: the upper price band of ₹305 plus the latest grey market premium of ₹0, as of 05 Oct 2026, 11:32 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for Runwal Enterprises IPO?
Based on the retail subscription of 1.12x, the estimated allotment ratio is 1 lot per 2 applicants (approximately 89.3% chance of allotment). This is an estimate and actual allotment may vary.
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| SRIT India | 06 Oct 2026 | +13.85% |
| Shah Investor's Home | 06 Oct 2026 | +2.40% |
| German Green Steel & Power | 05 Oct 2026 | +2.16% |
Related IPOs
Related Articles
How to Use 10 Minutes of Research to Validate Any IPO Video You Watch
SEBI now requires issuers to publish a 10-minute IPO disclosure video. Here is a practical, source-by-source method to verify what you watch against the DRHP and official exchange records in about ten minutes.
Read more →
How-ToHow to Read Past IPO Data to Set Realistic Listing Gain Targets
Median listing gains fell to 3.8% in 2025 from 15.2% in 2024. Here is how to read past IPO data, GMP, and subscription numbers to set realistic listing day expectations instead of chasing hype.
Read more →
How-ToHow to Compare an IPO With Listed Peers Using Key Ratios and Growth Metrics
A practical framework for Indian retail investors on comparing an IPO with its listed peers using P/E, P/B, EV/EBITDA and growth metrics, illustrated with the NSE vs BSE case study.
Read more →