Runwal Developers Ltd. on Wednesday filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include mix of fresh issues of shares worth Rs 1,700 crore and an offer-for-sale up to Rs 300 by promoter selling shareholders.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 340 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
Sandeep Subhash Runwal is the promoter of the company offloading shares in the offer for sale.
ICICI Securities Ltd., BOB Capital Markets Ltd., IIFL Capital Services Ltd. and JM Financial Ltd. are the book-running lead managers for the issue and MUFG Intime India Pvt. will be the registrar of the issue.
Proceeds from the fresh issue worth Rs 1,300 crore will be used for prepayment or repayment of outstanding borrowings availed by the company and its subsidiaries. The remaining funds will be utilised for general corporate purposes.
The Mumbai-based company is a prominent real estate development company with a strong focus on lifestyle-oriented projects and a diversified portfolio spanning across residential, commercial and organized retail projects across the Mumbai Metropolitan Region and Pune in Maharashtra. As of June 30, 2025, the Company had 35 completed projects, 17 ongoing projects and 24 upcoming projects across MMR and Pune.
The Company's business model is built on a hybrid strategy that includes outright purchases of land, redevelopment of ageing housing societies and joint development agreements with existing landowners.
The revenue from operations in fiscal 2025 more than doubles to Rs 1,163.23 crore in comparison to Rs 539.44 crore. The profit for the financial year 2025 rises 70.2% to Rs 640.93 crore from Rs 376.58 crore reported in financial year ended March 2024.
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