Mumbai-based real estate developer Runwal Enterprises is set to enter the primary market on September 25 with a ₹500-crore initial public offering (IPO), as the company looks to raise fresh capital to support its expansion across residential and commercial real estate. The IPO will remain open until September 29, with the company fixing the price band at ₹290-305 per equity share.

Investors can bid for a minimum of 49 equity shares and in multiples of 49 equity shares thereafter. Equity shares outstanding as on date 131,391,436 equity shares of ₹2 each.

The IPO, with a face value of ₹2, is entirely a fresh issue up to ₹5,000 million.

The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% of the Net Issue being reserved for Qualified Institutional Buyers (QIBs), not less than 15% of the Net Issue being for Non-Institutional Investors (NIIs), and not less than 35% of the Net Issue being reserved for Retail Individual Investors (RIIs).

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 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. 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). Greenfield projects refer to developments undertaken on land parcels that have never been previously used, developed or constructed upon for residential dwelling purposes.

Its real estate development business spans all activities related to real estate development, from the identification and acquisition of land through to the planning, execution, marketing and sales of its development projects. It is through this process that the company develops a variety of residential and commercial projects comprising apartments, retail spaces, offices, schools, hospitals, and townhalls.

As of March 31, 2026, the company has developed and is in the process of developing an aggregate developable area of 31.96 million square feet of residential, retail and commercial properties, which include residential buildings, townships, corporate offices, retail malls, retail spaces, schools and various other real estate projects spread across the eastern, central, peripheral central, south central and western suburbs of Mumbai.

The company’s vision is to be a full-service real estate developer in Mumbai, developing both residential and non-residential projects (across the price spectrum) and in communities (including integrated townships) that feature a wide range of amenities and iconic landmarks.

Its residential portfolio consists of an aggregate developable area and estimated developable area (in the case of upcoming projects) of 74.58 million square feet of completed projects, ongoing projects and upcoming projects (Projects) as of March 31, 2026, and is segmented into affordable, mid-income and luxury markets.

The company has historically focused on the affordable and mid-income residential segments (notable examples being Runwal Gardens in Dombivli and Runwal Greens in Mulund West) but has recently expanded its focus to include the luxury residential segment (namely, 7 Mahalaxmi and Girgaum).

The company is also expanding geographically within Mumbai, moving from the eastern suburbs to western areas such as Mahalaxmi, Girgaum and Bandra, and outside the MMR, near Alibaug. Its business also consists of development and lease / sale of units in certain commercial and shopping complexes. As of March 31, 2026, the company’s non-residential portfolio consists of an aggregate developable area and estimated developable area (in the case of upcoming projects) of 13.80 million square feet of projects.

In recent years, the company has also explored opportunities to grow on an asset light basis through JDAs, development agreements (DAs) and joint ventures (JVs).