Updated Oct 2 · 2:16 PM IST

Runwal Enterprises IPO

Closed · lists Oct 5 MainboardBook BuiltBSE · NSESep 25 – 29, 2026

Runwal Enterprises, incorporated in 2016, is a Mumbai real-estate developer building affordable, mid-income and luxury homes, plus commercial space, malls and schools. It is strongest in Mumbai's eastern suburbs and Kalyan-Dombivli; as of Mar 31, 2026 it had 19 completed, 28 ongoing and 33 upcoming projects.

Price Band
₹290 – 305
per share
Min. Investment
₹14,945
1 lot · 49 shares
Issue Size
₹500 Cr
Entirely fresh issue
GMP
₹0 UNOFFICIAL
≈0.0% · est. ₹305
Subscription
2.63×
final
Listing
Oct 5
Allotment Sep 30
62/100
Proceed with Caution
Why? →
IPO Dates

Runwal Enterprises IPO Date & Timeline

Tentative schedule from the RHP.

Sep 25
Opens
Sep 29
Closes
Sep 30
Allotment
Oct 1
Refunds
Oct 1
Demat credit
Oct 5
Listing
Grey Market

Runwal Enterprises IPO GMP Today

Updated Oct 2 · 12:45 PM IST

Unofficial, aggregated from market sources. It never feeds our score.

GMP today
₹0
unchanged since last update
GMP %
0.0%
on upper band ₹305
Est. listing
₹305
₹305 + ₹0
Range
₹0 – 25
since Sep 23
GMP trend 30 updates · Sep 23 – Oct 2
₹0₹10₹20₹30Sep 23, 11:59 PM: ₹15Sep 24, 4:45 PM: ₹18Sep 24, 7:15 PM: ₹22Sep 24, 8:45 PM: ₹25Sep 24, 10:15 PM: ₹24Sep 24, 11:59 PM: ₹24Sep 25, 9:30 AM: ₹24Sep 25, 9:45 AM: ₹22Sep 25, 11:15 AM: ₹23Sep 25, 12:00 PM: ₹15Sep 25, 12:15 PM: ₹7Sep 25, 12:30 PM: ₹10Sep 25, 6:00 PM: ₹18Sep 26, 11:59 PM: ₹14Sep 27, 11:59 PM: ₹13Sep 28, 12:30 PM: ₹11Sep 28, 5:00 PM: ₹16Sep 28, 9:00 PM: ₹14Sep 29, 8:30 AM: ₹14Sep 29, 10:45 AM: ₹12Sep 29, 11:15 AM: ₹8Sep 29, 12:15 PM: ₹6Sep 29, 4:30 PM: ₹3Sep 29, 8:00 PM: ₹2Sep 30, 7:00 AM: ₹2Sep 30, 2:15 PM: ₹2Oct 1, 8:00 AM: ₹1Oct 1, 2:45 PM: ₹1Oct 2, 8:45 AM: ₹0Oct 2, 12:45 PM: ₹0Sep 23Sep 25Sep 26Sep 29Sep 30Oct 2₹0 now
Full GMP history (30 updates)
Date & time (IST)GMPChangeGMP %Est. listing
Oct 2, 2026 · 12:45 PM₹0₹00.0%₹305
Oct 2, 2026 · 8:45 AM₹0−₹10.0%₹305
Oct 1, 2026 · 2:45 PM₹1₹00.3%₹306
Oct 1, 2026 · 8:00 AM₹1−₹10.3%₹306
Sep 30, 2026 · 2:15 PM₹2₹00.7%₹307
Sep 30, 2026 · 7:00 AM₹2₹00.7%₹307
Sep 29, 2026 · 8:00 PM₹2−₹10.7%₹307
Sep 29, 2026 · 4:30 PM₹3−₹31.0%₹308
Sep 29, 2026 · 12:15 PM₹6−₹22.0%₹311
Sep 29, 2026 · 11:15 AM₹8−₹42.6%₹313
Sep 29, 2026 · 10:45 AM₹12−₹23.9%₹317
Sep 29, 2026 · 8:30 AM₹14₹04.6%₹319
Sep 28, 2026 · 9:00 PM₹14−₹24.6%₹319
Sep 28, 2026 · 5:00 PM₹16+₹55.2%₹321
Sep 28, 2026 · 12:30 PM₹11−₹23.6%₹316
Sep 27, 2026 · 11:59 PM₹13−₹14.3%₹318
Sep 26, 2026 · 11:59 PM₹14−₹44.6%₹319
Sep 25, 2026 · 6:00 PM₹18+₹85.9%₹323
Sep 25, 2026 · 12:30 PM₹10+₹33.3%₹315
Sep 25, 2026 · 12:15 PM₹7−₹82.3%₹312
Sep 25, 2026 · 12:00 PM₹15−₹84.9%₹320
Sep 25, 2026 · 11:15 AM₹23+₹17.5%₹328
Sep 25, 2026 · 9:45 AM₹22−₹27.2%₹327
Sep 25, 2026 · 9:30 AM₹24₹07.9%₹329
Sep 24, 2026 · 11:59 PM₹24₹07.9%₹329
Sep 24, 2026 · 10:15 PM₹24−₹17.9%₹329
Sep 24, 2026 · 8:45 PM₹25+₹38.2%₹330
Sep 24, 2026 · 7:15 PM₹22+₹47.2%₹327
Sep 24, 2026 · 4:45 PM₹18+₹35.9%₹323
Sep 23, 2026 · 11:59 PM₹15—4.9%₹320
!GMP is unofficial and unregulated. It reflects grey-market sentiment only and is not a basis for a decision. Sep 23–24 are IPOji's last quote of each day (23:59 IST stamp). IPOWatch showed ₹18.
Demand

Runwal Enterprises IPO Subscription Status

Final · Day 3 · Sep 29 · 5:00 PM IST

From NSE + BSE bid data, excluding the anchor portion.

QIB
4.10×
bHNI (>₹10L)
4.57×
sHNI (₹2–10L)
3.28×
NII total
4.14×
Retail
1.18×
Employee
1.20×
Overall
2.63×
dashed line = 1× (fully subscribed)
Final: the issue closed 2.63× subscribed on Day 3 (5 PM, Sep 29; IPOji end-of-day figures updated 5:54 PM). QIBs 4.1×, NIIs 4.14× (big HNIs 4.57×, small HNIs 3.28×), retail investors 1.18×, employees 1.2×.

Day-wise subscription

DayQIBbHNIsHNINII totalRetailEmployeeTotal
Shares offered32,55,73916,27,8788,13,59624,41,80356,97,5401,20,2751,15,15,357
Day 1 · Sep 251.01×0.34×0.20×0.29×0.19×—0.44×
Day 2 · Sep 281.11×1.18×0.61×0.99×0.44×—0.75×
Day 3 · Sep 294.10×4.57×3.28×4.14×1.18×1.20×2.63×
Issue Details

Runwal Enterprises IPO Details

Checked against the RHP and cross-checked on NSE and BSE.

IPO dateSep 25 – 29, 2026
Price band₹290 – 305 per share
Face value₹2 per share
Lot size49 shares
Total issue size1,63,98,962 shares
₹500.00 Cr
Fresh issue1,63,98,962 shares
₹500.00 Cr
Issue typeBook Built · Mainboard
Listing atBSE, NSE
Market cap≈ ₹4,507.44 Cr
Promoter holding95.16% → 84.6%
Lead managersICICI Securities Ltd., Jefferies India Pvt. Ltd.
RegistrarMUFG Intime India Pvt. Ltd.

Offer documents

How much to invest

Runwal Enterprises IPO Lot Size

Minimum and maximum bids by investor type at the upper band of ₹305.

ApplicationLotsSharesAmount
Retail (min)149₹14,945
Retail (max)13637₹1,94,285
sHNI (min)14686₹2,09,230
sHNI (max)663,234₹9,86,370
bHNI (min)673,283₹10,01,315
Who gets what

Runwal Enterprises IPO Reservation

Shares set aside for each category, and the maximum number of applicants who can get an allotment.

CategoryShares offered% of issueMax. allottees
Anchor investors48,83,60529.8%—
QIB (ex-anchor)32,55,73919.9%—
NII (HNI)24,41,80314.9%—
↳ bHNI (>₹10L)16,27,8789.9%2,373
↳ sHNI (₹2–10L)8,13,5965%1,186
Retail56,97,54034.7%1,16,276
Employee1,20,2750.7%—
Total1,63,98,962100%
Retail is 1.18× subscribed. With 1,16,276 retail slots, allotment is by lottery: roughly 1 in 1 retail applicants may get a lot (indicative only).
Company Financials

Runwal Enterprises Financials (FY24 – FY26)

Restated consolidated figures from the RHP, ₹ crore. Years end March 31.

Revenue vs Profit ₹ Cr
RevenueProfit after tax (not to scale)
Revenue FY24: ₹2,436.68 Cr2,437PAT FY24: ₹93.70 Cr93.7FY24Revenue FY25: ₹1,050.71 Cr1,051PAT FY25: ₹55.65 Cr55.7FY25Revenue FY26: ₹1,850.79 Cr1,851PAT FY26: ₹185.76 Cr185.8FY26

Financial statement

₹ CrFY24FY25FY26YoY
Revenue2,436.681,050.711,850.79+76.1%
EBITDA—180.11349.81+94.2%
Profit after tax93.7055.65185.76+233.8%
Total assets7,079.748,328.1410,254.50+23.1%
Net worth—455.86768.20+68.5%
Total borrowing—2,312.582,909.13+25.8%
Real-estate revenue is lumpy because it is booked as projects are handed over: FY26 revenue rose to ₹1,851 Cr and profit tripled to ₹186 Cr, yet FY24 revenue was higher. Borrowings are large (~₹2,909 Cr, D/E ~3.3×) and most IPO money goes to cutting them.
Valuation

Runwal Enterprises IPO Valuation & Peer Comparison

At the upper band of ₹305. Peers from the RHP "Basis for Offer Price".

Earnings
EPS pre-IPO
₹14.14
EPS post-IPO
₹12.57
P/E pre-IPO
21.6×
P/E post-IPO
24.3×
Returns & margins
RoNW
27.24%
EBITDA margin
19.44%
Price / Book
4.97×
Market cap
₹4,507 Cr
Debt / Equity
3.29×

Peer comparison

CompanyP/EP/BRoNW
Runwal Enterprises24.3×4.97×27.24%
Oberoi Realty25.9×—13.99%
Godrej Properties27.5×—9.61%
Sunteck Realty21.1×—5.60%
At ~24× post-issue FY26 earnings (₹4,507 Cr market cap), Runwal is priced in line with Oberoi (~26×), Godrej Properties (~28×) and Sunteck (~21×), with a higher RoNW. But its leverage (D/E ~3.3×) is far higher than those peers, and ~5× book is not cheap.
Company & Offer

About Runwal Enterprises

Business profile from the RHP.

  • 2016Incorporated · Mumbai
  • 19 / 28 / 33Completed / ongoing / upcoming projects (Mar 2026)
  • #3 in MumbaiLaunches & sales, Jan 2023–Mar 2026 (JLL)
  • 1,181Permanent employees (Mar 31, 2026)

Promoters & holding

Subodh Subhash Runwal

Pre-issue95.16%
Post-issue84.60%

Objects of the issue

Repay / prepay company borrowings₹100 Cr
Invest in subsidiaries (Susneh Infrapark, Runwal Residency, Evie Real Estate) to repay their debt₹225 Cr
Future project acquisitions & general corporate purposesBalance

Anchor investors

Raised
₹148.95 Cr
Investors
10
Anchor price
₹305
Domestic MFs
26.85%

Allotted Sep 24, 2026 · 48,83,605 shares. Participants include Tata Mutual Fund, Maybank Securities (ODI), Authum Investment & Infrastructure, 360 One Prime and Sanshi Fund-I.

IPOSignal Review

Runwal Enterprises IPO Review: Should You Apply?

Our 100-point score, and both sides of the case.

62out of 100
Proceed with Caution · Highly Leveraged
Confidence: 65% (Medium)
Score breakdown
Financial health14/25
Valuation13/20
Business quality10/15
Industry growth7/10
Management7/10
Governance5/10
Subscription4/7
Sentiment2/3
GMP is not part of the score.

Our view: A recognised Mumbai developer with a big project pipeline, rising FY26 profit and a valuation in line with listed peers. The main concerns are heavy debt (D/E ~3.3×), lumpy project-based revenue and a thin anchor book with only one domestic fund house.

Strengths
  • Established Mumbai brand: #3 in launches and sales in Mumbai and #1 in sales in the eastern suburbs (JLL data cited in the RHP).
  • Large pipeline: 28 ongoing and 33 upcoming projects across affordable, mid and luxury housing.
  • FY26 profit more than tripled to ₹186 Cr, with ~27% RoNW.
  • The whole issue is fresh money, largely used to cut debt, which should lower interest costs.
  • Valued in line with Oberoi, Godrej Properties and Sunteck on P/E.
Risks
  • Very high leverage: borrowings of ~₹2,909 Cr and debt-to-equity ~3.3×.
  • Revenue is lumpy (FY24 ₹2,437 Cr, FY25 ₹1,051 Cr, FY26 ₹1,851 Cr), so earnings can swing year to year.
  • Concentrated in the Mumbai region, exposed to local demand, approvals and pricing cycles.
  • Thin anchor book: ₹149 Cr from 10 investors, with Tata MF the only domestic fund house.
  • Sources disagree on object amounts (HDFC Sky figures used); check the RHP.
Post-Listing Check

Runwal Enterprises Listing Performance Updates after Oct 5

We close the loop: issue vs listing price, and whether our call was right.

Issue price
₹305
Listing price
—
Listing gain
—
Our call
Proceed with Caution
Allotment & Contacts

Runwal Enterprises IPO Allotment Status & Contact Details

Allotment was finalised on Sep 30. Check it with your PAN or application number.

MUFG Intime India Pvt. Ltd.

Registrar
Phone
022-49186000
Email
runwalenterprises.ipo@in.mpms.mufg.com
Check allotment status →

Runwal Enterprises Ltd.

Company
Address
Runwal & Omkar Esquare, 4th Floor, Off Eastern Express Highway, Opp. Sion Chunabhatti Signal, Sion (E), Mumbai 400022
Phone
+91 22 6116 2422
Email
company.secretaries@runwalgroup.in
Website
runwalenterprises.com
FAQs

Runwal Enterprises IPO FAQs

GMP, price, lot size, dates, allotment and how to apply.

What is Runwal Enterprises IPO?

Runwal Enterprises IPO is a ₹500.00 Cr Mainboard book built issue, entirely a fresh issue. The shares will list on BSE and NSE.

What is Runwal Enterprises IPO GMP today?

As of Oct 2 · 12:45 PM IST, the grey market premium is ₹0 (≈0.0%), implying an estimated listing price of about ₹305. The GMP has ranged ₹0 – 25 since Sep 23. GMP is unofficial and not a guarantee of the listing price.

What is the price band of Runwal Enterprises IPO?

The price band is ₹290 – ₹305 per equity share of face value ₹2.

What is the lot size of Runwal Enterprises IPO?

The minimum lot is 49 shares. Retail investors can apply for 1 to 13 lots (49 to 637 shares).

What is the minimum investment for Runwal Enterprises IPO?

The minimum retail investment is ₹14,945 (49 shares at ₹305). The maximum retail application is ₹1,94,285 (13 lots).

When does Runwal Enterprises IPO open and close?

The IPO opens on Sep 25, 2026 and closes on Sep 29, 2026.

What is the allotment date of Runwal Enterprises IPO?

The basis of allotment is finalised on Sep 30, 2026. Refunds and demat credit were on Oct 1, 2026.

When will Runwal Enterprises IPO be listed?

The tentative listing date is Oct 5, 2026 on BSE and NSE.

What is Runwal Enterprises IPO subscription status?

At close (Sep 29 · 5:00 PM IST), the issue was subscribed 2.63× overall — QIB 4.10×, bHNI 4.57×, sHNI 3.28×, Retail 1.18×, Employee 1.20×.

What is the P/E ratio and valuation of Runwal Enterprises IPO?

At the upper band, the P/E is 21.6× pre-issue and 24.3× post-issue, with a market cap of about ₹4,507.44 Cr. Listed peers include Oberoi Realty (25.9×) and Godrej Properties (27.5×).

Should I apply for Runwal Enterprises IPO?

IPOSignal's view is Proceed with Caution · Highly Leveraged (62/100). A recognised Mumbai developer with a big project pipeline, rising FY26 profit and a valuation in line with listed peers. The main concerns are heavy debt (D/E ~3.3×), lumpy project-based revenue and a thin anchor book with only one domestic fund house. This is research, not investment advice.

How to check Runwal Enterprises IPO allotment status?

Check on the registrar MUFG Intime India Pvt. Ltd.'s site (in.mpms.mufg.com/Initial_Offer/public-issues.html), or on the BSE / NSE allotment pages, using your PAN or application number.

Who is the registrar and lead manager of Runwal Enterprises IPO?

The registrar is MUFG Intime India Pvt. Ltd.. The book-running lead managers are ICICI Securities Ltd. and Jefferies India Pvt. Ltd..

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