RUNWAL ENTERPRISES LTD IPO: Company Review, Subscription and Allotment Updates
2026-09-25 — Company overview and issue details RUNWAL ENTERPRISES LTD IPO (ABOUT THE COMPANY) RUNWAL ENTERPRISES LTD – COMPANY BACKGROUND Runwal Enterprises Ltd is a Mumbai-based real estate developer with projects across low-cost…
2026-09-25 — Company overview and issue details
RUNWAL ENTERPRISES LTD IPO (ABOUT THE COMPANY)
RUNWAL ENTERPRISES LTD – COMPANY BACKGROUND
Runwal Enterprises Ltd is a Mumbai-based real estate developer with projects across low-cost housing, mid-cost, and luxury living. It is ranked third in Mumbai in terms of number of new launches, with a market share of around 2.4% in the Mumbai market. As of March 2026, Runwal Enterprises Ltd had 19 completed projects, 28 ongoing projects and a total of 33 upcoming projects. It also has expertise in development of large townships, which include schools, malls, and shopping arcades to support the residential household needs. It manages the entire value chain from design, architecture, engineering, construction management, sales, and marketing in-house.
The promoter of Runwal Enterprises Ltd is Subodh Subhash Runwal. The IPO will be an entirely a fresh issue of shares with no offer for sale (OFS) component in the IPO. The fresh issue proceeds will be used for repayment and prepayment of loans availed by the company, investing in material subsidiaries to reduce their debt, for funding acquisition of future real estate projects, and for general corporate purposes. The issue is being lead-managed by ICICI Securities and Jefferies India; while MUFG Link Intime Private Ltd is the IPO registrar.
HIGHLIGHTS OF THE IPO ISSUE OF RUNWAL ENTERPRISES LTD
Here are the key highlights of the public issue of Runwal Enterprises Ltd.
The IPO is open from September 25th, 2026 to September 29th, 2026. It has a face value of ₹2 per share and the IPO price band has been fixed in the range of ₹290 to ₹305 per share.
The IPO of Runwal Enterprises Ltd will be entirely a fresh issue of shares with no offer for sale (OFS) component in the IPO.
The Fresh Issue portion of the IPO comprises the issue of 1,63,93,442 shares (163.93 lakh shares), which at the upper price band of ₹305 per share, translates into a fresh issue size of ₹500.00 crore.
Since there is no OFS portion in the IPO, the overall IPO size will comprise only of the fresh issue of 1,63,93,442 shares (163.93 lakh shares), which at the upper price band of ₹305 per share translates into an overall issue size of ₹500.00 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 95.16% pre-IPO to 84.61% post-IPO.
The IPO of Runwal Enterprises Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on September 24, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Runwal Enterprises Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Friday, 25 September, 2026 |
| IPO Close Date | Tuesday, 29 September, 2026 |
| Basis of Allotment | Wednesday, 30 September, 2026 |
| Initiation of Refunds to non-allottees | Thursday, 1 October, 2026 |
| Credit of Shares to Demat | Thursday, 1 October, 2026 |
| Listing Date on NSE and BSE | Monday, 5 October, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | 1,26,811 shares | 0.75% of total IPO size |
| Anchor Allocation | 48,83,605 shares | 28.74% of total IPO size |
| QIB Shares Offered | 34,24,137 shares | 20.15% of total IPO size |
| NII (HNI) Shares Offered | 25,68,104 shares | 15.11% of total IPO size |
| Retail Shares Offered | 59,92,242 shares | 35.26% of total IPO size |
| Total Shares Offered | 1,69,94,899 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Runwal Enterprises Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 49 | ₹ 14,945 |
| Retail (Max) | 13 | 637 | ₹ 1,94,285 |
| S-HNI (Min) | 14 | 686 | ₹ 2,09,230 |
| S-HNI (Max) | 66 | 3,234 | ₹ 9,86,370 |
| B-HNI (Min) | 67 | 3,283 | ₹ 10,01,315 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 37 shares)
FINANCIAL HIGHLIGHTS OF RUNWAL ENTERPRISES LTD
The table captures the key financials of Runwal Enterprises Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 1,798.95 | 1,007.77 | 2,408.87 |
| Sales Growth (%) | 78.51% | -58.16% | |
| Profit after Tax (₹ in crore) | 185.76 | 55.65 | 93.70 |
| PAT Margins (%) | 10.33% | 5.52% | 3.89% |
| Total Equity (₹ in crore) | 833.54 | 509.63 | 415.67 |
| Total Assets (₹ in crore) | 10,254.50 | 8,328.14 | 7,079.74 |
| Return on Equity (%) | 22.29% | 10.92% | 22.54% |
| Return on Assets (%) | 1.81% | 0.67% | 1.32% |
| Asset Turnover Ratio (X) | 0.18 | 0.12 | 0.34 |
| Earnings per share (₹) | 16.74 | 6.27 | 6.04 |
| EBITDA (₹ in Crore) | 349.81 | 180.11 | 201.73 |
| EBITDA Margins (%) | 19.44% | 17.87% | 8.37% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
Between FY24 and FY26, the net margins have improved from 3.89% to 10.33%, while the EBITDA margins have also grown from 8.37% to 19.44%. Due to the large asset base, and slow pick-up in sales revenues, the asset turnover ratio appears to be quite low. The ROE has been volatile in the last 3 years; and a more stable ROE will enable better pricing.
VALUATION METRICS OF RUNWAL ENTERPRISES LTD IPO
At the IPO price of ₹305 (upper band), the stock gets discounted at a P/E ratio of 18.2X, based on the latest FY26 EPS of ₹16.74. That looks favourable reasonable if you compare with the other realty developers in the Mumbai market. It must be noted here that Runwal also enjoys a better ROE compared to other real estate companies, even if you consider the average of last 3 years. One area where Runwal lags is the book value per share, which is much lower than competition and is a key metrics used to evaluate realty companies.
Apart from the financial numbers, there are also some other areas where Runwal Enterprises Ltd has an edge. It has an established brand in Mumbai and also has a robust market share of new launches in the region. Most of its projects have seen early offtake, reducing the liquidity needs. Debt is fairly high and is nearly half the balance sheet size. That should hopefully reduce after the IPO. Investors can look at the IPO as a proxy for the realty opportunity in India. That is surely growing rapidly!
2026-09-25 — Anchor allocation
RUNWAL ENTERPRISES LTD IPO (ANCHOR ALLOCATION 28.74%)
BRIEF ON ANCHOR ALLOCATION OF RUNWAL ENTERPRISES LTD
The anchor issue of Runwal Enterprises Ltd saw a strong response on 24th September 2026 with 28.74% of the IPO size absorbed by anchors. Out of 1,69,94,899 shares (1,69.95 lakh shares) on offer in the IPO; anchors picked up 48,83,605 shares (48.84 lakh shares) accounting for 28.74% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹305 per share. This includes the face value of ₹2 per share plus a share premium of ₹303 per share. The anchor bidding opened and closed on 24th September 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Runwal Enterprises Ltd
| Bid Date | September 24, 2026 |
|---|---|
| Shares Offered | 48,83,605 shares |
| Anchor Portion Size (₹ in crore) | ₹148.95 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Oct 29, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Dec 28, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN RUNWAL ENTERPRISES LTD
On 24th September 2026, Runwal Enterprises Ltd allotted 48,83,605 shares to a total of 10 anchor investors. The allocation was done at the upper IPO price band of ₹305 per share which resulted in overall anchor allocation of ₹148.95 crore. The anchors have already absorbed 28.74% of the total issue size of ₹518.34 crore, after factoring in the employee discount offered in the IPO, if any.
Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹148.95 crores, or, 100.00% of the overall anchor allocation of shares, one trading day ahead of the IPO of Runwal Enterprises Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Tata Dividend Yield Fund | 8,19,623 | 16.78% | ₹ 25.00 |
| 02 | Maybank Securities Pte Ltd - ODI | 8,19,574 | 16.78% | ₹ 25.00 |
| 03 | Authum Investment & Infra Ltd | 6,44,254 | 13.19% | ₹ 19.65 |
| 04 | Tata ELSS Tax Saver Fund | 4,91,813 | 10.07% | ₹ 15.00 |
| 05 | 360 One Prime Ltd | 4,80,300 | 9.83% | ₹ 14.65 |
| 06 | Sanshi Fund - I | 4,80,300 | 9.83% | ₹ 14.65 |
| 07 | Founders Collective Fund | 3,27,908 | 6.71% | ₹ 10.00 |
| 08 | Capri Global Finance Ltd | 3,27,908 | 6.71% | ₹ 10.00 |
| 09 | Ashika Finance Private Ltd | 3,27,908 | 6.71% | ₹ 10.00 |
| 10 | LSRD Securities Private Ltd | 1,64,017 | 3.36% | ₹ 5.00 |
| Grand Total | 48,83,605 | 100.00% | ₹ 148.95 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 48,83,605 shares allocated to the anchors in the IPO, there was an allocation of 13,11,436 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 2 MF schemes of 1 asset management company (AMC). Mutual funds accounted for 26.85% of the overall anchor allocation.
Out of the 48,83,605 shares allocated to the anchors in the IPO, there was no allocation of shares made to life insurance companies regulated by IRDAI.
The remaining anchor allocation was spread across FPIs, ODIs, and alternate investment funds (AIFs).
NEXT STEPS IN RUNWAL ENTERPRISES LTD IPO
Post the closure of the IPO subscription on 29th September 2026, the basis of allotment will be finalized on 30th September 2026 and the refunds will be initiated on 01st October 2026. In addition, the demat credits are expected to also happen on 01st October 2026 and the stock will list on 05th October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st October 2026 under ISIN (INE804W01029).
2026-09-29 — Day-3 subscription update
Runwal Enterprises Ltd (Day-3 Final Subscription at 2.50 times)
RUNWAL ENTERPRISES LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.10 pm on 29th September 2026, out of the 121.11 lakh shares on offer in the IPO (excluding anchor portion), Runwal Enterprises Ltd saw bids for 303.20 lakh shares. This implies an overall subscription of 2.50X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Runwal Enterprises Ltd was as under:
| Employees (N.A.) | QIBs (3.89X) | HNI / NII (3.94X) | Retail (1.12X) |
|---|
The subscriptions were led by the HNI / NII Investors followed by the QIB investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO, although the total QIB subscription was less than impressive. The company had seen steady anchor participation a day ahead of the IPO opening with 28.74% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 48,83,605 | 48,83,605 | 148.95 |
| Employee Quota | 1.13 | 1,26,811 | 1,43,766 | 4.38 |
| QIB Investors | 3.89 | 34,24,137 | 1,33,32,508 | 406.64 |
| HNIs / NIIs | 3.94 | 25,68,104 | 1,01,08,308 | 308.30 |
| Retail Investors | 1.12 | 59,92,242 | 67,35,099 | 205.42 |
| Total | 2.50 | 1,21,11,294 | 3,03,19,681 | 924.75 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Runwal Enterprises Ltd was open up to September 29, 2026, and has closed for subscription as of the close of trading hours on September 29, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹1,073.70 crore.
NEXT STEPS IN THE RUNWAL ENTERPRISES LTD IPO
Post the closure of the IPO subscription on 29th September 2026, the basis of allotment will be finalized on 30th September 2026 and the refunds will be initiated on 01st October 2026. In addition, the demat credits are expected to also happen on 01st October 2026 and the stock will list on 05th October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st October 2026 under ISIN (INE804W01029).
2026-09-30 — Allotment guidance and next steps
Runwal Enterprises Ltd IPO (How to check allotment status)
ABOUT THE RUNWAL ENTERPRISES LTD IPO
The IPO of Runwal Enterprises Ltd opened on September 25th, 2026 and closed on September 29th, 2026. The overall IPO comprised only of a fresh issue of shares of 1,69,94,899 shares (169.95 lakh shares) worth ₹518.34 crore at the upper price band of ₹305 per share. There is no offer for sale (OFS) component in the IPO. The allotment status will be finalized by end of day (EOD) of September 30, 2026. Here is how to check your allotment status for the IPO of Runwal Enterprises Ltd. You can check IPO status on the BSE website or on the NSE website or on website of the IPO Registrar (MUFG Intime India Private Ltd).
CHECKING THE ALLOTMENT STATUS OF RUNWAL ENTERPRISES LTD IPO ON BSE WEBSITE
This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. Visit the BSE link for the IPO allotment by clicking on the link below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Runwal Enterprises Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip OR
Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Runwal Enterprises Ltd allotted into your demat account. You can save a screenshot of the allotment status output for subsequently verifying with the demat account credits.
CHECKING ALLOTMENT STATUS OF RUNWAL ENTERPRISES LTD IPO ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select RUNWALENTR from the dropdown box
Enter the Application Number / CAF exactly as in the acknowledgement slip AND
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Runwal Enterprises Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF RUNWAL ENTERPRISES LTD ON MUFG INTIME INDIA PRIVATE LIMITED (REGISTRAR TO THE IPO)
Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:
https://in.mpms.mufg.com/Initial_Offer/public-issues.html
There are 4 options available to you to access the allotment status, and you can use any of these options to query.
You can use PAN access. Enter the 10-character alphanumeric income tax permanent account number (PAN). Make it a point to verify your PAN before entering.
The second option is to use Application Number / CAF to query the allotment status in the IPO. The application / CAF number is available on the acknowledgement slip.
You can use DPID-Client ID combination. For NSDL combination is alphanumeric, while for CDSL, combination is numeric. This is available in your demat statement.
You can also query by the combination of your bank account number and IFSC number provided as the IPO mandate bank. It is available on your cheque book.
Finally, click on the SUBMIT button.
In case, you have any issues with the output, register an investor query with Link Intime India Private Ltd. You can either send an email with all requisite details and problem to ipo.helpdesk@in.mpms.mufg.com or you can call on (0)-81081-14949 for voice call.
NEXT STEPS IN THE RUNWAL ENTERPRISES LTD IPO
Post the closure of the IPO subscription on 29th September 2026, the basis of allotment will be finalized on 30th September 2026 and the refunds will be initiated on 01st October 2026. In addition, the demat credits are expected to also happen on 01st October 2026 and the stock will list on 05th October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st October 2026 under ISIN (INE804W01029).
Interested in applying for this IPO?
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