Runwal Enterprises Gets SEBI Nod for Rs.1,000 Crore IPO

Introduction

Mumbai-based developer Runwal Enterprises has secured approval from the Securities and Exchange Board of India (SEBI) to raise Rs.1,000 crore through an initial public offering (IPO). The issue will be a fresh equity share sale, with no offer-for-sale component, aimed at supporting the company’s expansion and strengthening its balance sheet.

Key Highlights

  • IPO Structure: Fresh issue of equity shares, face value Rs.2 each. No OFS component.

  • Allocation: 75% reserved for Qualified Institutional Buyers, 15% for non-institutional bidders, and 10% for retail investors. Employee quota will include a discount.

  • Pre-IPO Placement: Provision for raising up to Rs.200 crore before the IPO, with adjustment in fresh issue size if exercised.

  • Company Portfolio:

    • 15 completed projects, 25 ongoing, and 32 upcoming as of Sept 2024.

    • 48.71 million sq. ft. total developable and estimated developable area.

    • Diversified presence across residential, commercial, retail, and educational segments.

  • Market Share:

    • Ranked second in Mumbai (2019–2024) with ~5.7% share in launches and ~5.3% in sales.

    • Held dominant share in Kalyan-Dombivli with ~18% of sales and ~21% of new launches.

  • Financial Performance:

    • FY24 revenues: ?662.19 crore, up 188% YoY.

    • FY24 PAT: ?107.28 crore.

    • H1 FY25 revenues: ?270.52 crore; PAT: ?25.53 crore.

  • Listing & Management: To be listed on BSE and NSE. Managed by ICICI Securities and Jefferies India, with MUFG Intime India as registrar.

How Runwal Compares with Recent Real Estate IPOs

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