Mumbai-based Runwal Enterprises Limited, a real estate developer with a diverse portfolio in residential, commercial, retail, and educational infrastructure projects, has filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI to launch an Initial Public Offering (IPO) aggregating up to Rs 1,000 crore.
According to the DRHP, the entire issue comprises a fresh issuance of equity shares, with no Offer for Sale (OFS) component. The face value of each share is Rs 2. The company may also consider a pre-IPO placement of up to Rs 200 crore, and if undertaken, the fresh issue size will be adjusted accordingly. The equity shares are proposed to be listed on both the NSE and BSE.
Runwal Enterprises, previously known as Runwal Enterprises Private Limited and Runwal Apartments Private Limited, is promoted by Subodh Subhash Runwal. The company is engaged in developing affordable, mid-income, and luxury residential projects, along with commercial offices, shopping malls, and educational facilities. The IPO is being managed by ICICI Securities and Jefferies India as book-running lead managers, while MUFG Intime India is the registrar to the issue.
As per the DRHP, the company intends to use the proceeds from the IPO for debt repayment, land acquisition, and general corporate purposes to accelerate its ongoing and future development projects.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. IPO investments are subject to market risks. Always read the prospectus carefully and consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
