Strong demand for Runwal Enterprises Limited’s IPO subscribed 42% on Day 1 of IPO
The issue received bids of 50,87,621 equity shares against the offered 1,21,11,294 equity shares, according to data available on the stock exchanges.
POSTED BY : ANAGHA SAKPAL DATED ON : 25/09/2026 (9004379946) 📞
• Qualified Institutional Buyers (QIB) portion subscribed 0.96 times on Day 1
• Issue closes on Tuesday, September 29, 2026, for bidding
Mumbai (RMN) : The Initial Public Offering of Runwal Enterprises Limited was subscribed 0.42 times on the first day of bidding, demonstrating strong demand from qualified institutional buyers (QIB) and non-institutional investors for this IPO. Retail Portion and Non-Institutional Investors portion were subscribed 0.18 times and 0.28 times, respectively. Qualified Institutional Buyers (QIB) was subscribed 0.96 times and Employee portion was subscribed 0.17 times. The issue kicked off for subscription on Friday, September 25, 2026, and will close for subscription on Tuesday, September 29, 2026. A day before the opening of the issue, Runwal Enterprises Limited had raised nearly Rs 149 crore from anchor investors.
Brokerage houses recommend company
Leading brokerage firms like Ajcon Global Services, Anand Rathi, SMIFS Limited and Sushil Finance have given their “Subscribe” recommendation to Runwal Enterprises Limited, which is real estate developer present across the full spectrum of real estate development, specializing in residential projects that cater to affordable, mid-income, and luxury segments as well as commercial spaces, retail malls and educational buildings (Source: JLL Report). Ajcon Global Services highlights the company within Mumbai’s eastern Suburbs, the company ranked first in sales with a 7.88% market share and fourth in new launches with a 2.89% share. On the valuation front, at the upper price band of ₹ 305, the issue is valued at a P/E of about 24.24 times on its FY26 post-IPO EPS of ₹12.58. Recommend “Subscribe”.
Sushil Finance highlights the company is a Mumbai-focused, full-spectrum real estate developer active in residential (affordable, mid-income and luxury), commercial, retail and educational spaces. On the valuation front, at the Rs 290–305 band, the implied P/E of nearly 17-18 times on FY26 diluted EPS is at a clear discount to the industry composite of nearly 39 times and cheaper than most listed peers. Recommend “Subscribe for medium-to-long-term investors.”
IPO Details
Runwal Enterprises Limited has fixed the price band of Rs 290 to Rs 305 per Equity Share of face value Rs. 2/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, September 25, 2026, for subscription and close on Tuesday, September 29, 2026.lnvestors can bid for a minimum of 49 Equity Shares and in multiples of 49 Equity Shares thereafter. The IPO, with a face value of Rs 2, is a fresh issue up to Rs 500 crore.
The proceeds from its fresh issuance worth Rs 100 crore will be utilised for funding the repayment/ pre-payment, in full or in part, of certain outstanding borrowings availed by the company, Rs 225 crore in investment in its wholly owned material subsidiaries, Runwal Residency Private Limited and Evie Real Estate Private Limited, for repayment/ pre-payment, in full or in part, of all or a portion of certain of their outstanding borrowing, funding acquisitions of future real estate projects and general corporate purpose.
The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for Retail Individual Investors (RIIs).
About the Company
Incorporated in 2016, the company is a real estate developer present across the full spectrum of real estate development, specializing in residential projects that cater to affordable, mid-income, and luxury segments as well as commercial spaces, retail malls and educational buildings (Source: JLL Report).
The company is a recognized brand in the industry and has a strong presence in Mumbai (Source: JLL Report). The company is ranked third in terms of new launches and sales in Mumbai with approximate market shares of 2.33% and 2.46%, respectively, between January 2023 and March 31, 2026 (Source – JLL Report).
In the eastern suburbs of Mumbai (which encompasses Mulund, Vikhroli, Ghatkopar, Kanjurmarg, Powai and Bhandup), the company ranked first in sales accounting for approximately 7.88% of sales, and fourth in new launches, accounting for approximately 2.89%, between January 2023 and March 31, 2026 (Source: JLL Report). The company is ranked first in terms of new launches and second in terms of sales in Kalyan, Dombivli, with approximate market shares of 11.41% and 6.33%, respectively, between January 2023 and March 31, 2026 (Source – JLL Report).
As of March 31, 2026, the company has 19 completed projects, 28 ongoing projects and 33 upcoming projects. The company’s experience include greenfield projects requiring land acquisition, as well as flexible models and asset light models such as via joint development agreements (JDA).
As of March 31, 2026, the company is executing ongoing projects with an aggregate developable area of 19.88 million square feet and has upcoming projects with an aggregate estimated developable area of 56.41 million square feet.
