The Runwal Enterprises IPO opens for subscription today, September 25, 2026, giving investors a bidding window until September 29. In the grey market, the IPO is commanding a GMP of around 8%, indicating market expectations of a potential premium over the issue price at listing. However, grey market premiums are unofficial and can change before listing.
The Rs 499.83 crore Runwal Enterprises IPO is entirely a fresh issue of 1.64 crore shares, with no offer-for-sale component.
The IPO has fixed a price band of Rs 290 to Rs 305 per share, with a lot size of 49 shares. At the upper end of the price band, retail investors will need to invest a minimum of Rs 14,945 for one lot.
The IPO will remain open from September 25 to September 29, 2026. The basis of allotment is expected to be finalised on September 30, while the shares are likely to be listed on the NSE and BSE on October 5, 2026, subject to the applicable timelines.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
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Runwal Enterprises IPO GMP Today
The Runwal Enterprises IPO GMP stands at Rs 23, or 7.54%, over the upper price band of Rs 305 per share. Based on the current grey market premium, the estimated listing price is around Rs 328 per share.
GMP is an unofficial market indicator and is not a reliable or guaranteed predictor of the IPO’s actual listing price. It can fluctuate before listing.
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IPO Objects of the Issue
The Runwal Enterprises IPO plans to utilise Rs 100 crore of the net proceeds towards the repayment or pre-payment of certain outstanding borrowings of the company, either fully or partially.
Another Rs 225 crore is proposed to be invested in its material subsidiaries, Susneh Infrapark Pvt. Ltd. and Runwal Residency Pvt. Ltd., and subsidiary Evie Real Estate Pvt. Ltd., to repay or pre-pay their borrowings. The remaining proceeds will be used to fund acquisitions of future real estate projects and for general corporate purposes, taking the total allocation to Rs 325 crore.
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Should you subscribe?
According to a research report by Anand Rathi, the IPO is valued at 24.2x FY26 P/E and 25.2x FY26 EV/EBITDA at the upper price band, implying a post-issue market capitalisation of Rs 45,074 million. The brokerage said the valuation appears fairly priced.
However, Anand Rathi highlighted the company’s high concentration in Mumbai and elevated execution risks arising from its large portfolio of ongoing and upcoming projects as key concerns. At the same time, the brokerage noted that Runwal Enterprises’ established presence in Mumbai, strong positioning across key micro-markets, sizeable development pipeline, integrated execution capabilities, and experience across asset-light and greenfield models provide a favourable foundation for long-term growth. Anand Rathi has recommended subscribing to the IPO for the long term
Runwal Enterprises reported a 76% increase in total income, rising to Rs 1,851 crore in FY26 from Rs 1,051 crore in FY25. The company’s profit after tax (PAT) surged 234% to Rs 186 crore in FY26, compared with Rs 56 crore in FY25, indicating a sharp improvement in profitability during the year.
About Runwal Enterprises Ltd.
Incorporated in February 2016, Runwal Enterprises is a real estate developer with a presence across residential, commercial and retail segments. Its residential portfolio spans affordable, mid-income and luxury housing, along with commercial spaces, retail malls and educational buildings. The company has a strong presence in Mumbai and, between January 2023 and March 31, 2026, ranked third in Mumbai for new launches and sales, with market shares of approximately 2.33% and 2.46%, respectively.
The company also held leading positions in key micro-markets, ranking first in sales in Mumbai’s eastern suburbs and first in new launches in Kalyan-Dombivli during the same period. As of March 31, 2026, Runwal Enterprises and its subsidiaries had 1,181 permanent employees, with key functions spanning construction management, sales and marketing, customer care, accounts and billing, contracts and procurement.
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