Runwal Enterprises sets IPO price band at Rs 290-305 per share
The IPO is entirely a fresh issue of equity shares aggregating up to Rs 500 crore. The company has 131,391,436 equity shares outstanding as on date. The issue will be made through the book-building process, the developer said in a release.
As of March 31, 2026, the company had a total developable area and estimated developable area, in the case of upcoming projects, of 88.37 million square feet across 19 completed projects, 28 ongoing projects and 33 upcoming projects.
Its residential portfolio accounted for 74.58 million sq ft, while its non-residential portfolio stood at 13.80 million sq ft as of March end.
In addition to its focus on affordable and mid-income housing through projects in Dombivli and Mulund West, it is also executing luxury residential projects in key locations including Bandra, Mahalaxmi and Girgaum in south Mumbai.
It is also expanding geographically from Mumbai to peripheral areas like Alibaug. The company has been focussing on asset-light growth through joint development agreements, development agreements and joint ventures.
The developer recently entered a joint venture with Blackstone-backed Nexus Select Trust, India’s maiden listed retail real estate investment trust (REIT) to develop a 730,000 sq ft Grade-A urban retail mall in Dombivli near Mumbai.
Last year, Japanese conglomerate Nishi-Nippon Railroad Co Ltd (Nishitetsu) formed a partnership with Runwal Enterprises to jointly develop a commercial project with a gross development value of Rs 2,000 crore at Kurla, near the city’s Bandra-Kurla Complex business district.
