Runwal Developers IPO

About Runwal Developers IPO

Runwal Developers IPO comprises a fresh issue and an offer for sale. The fresh issue comprises equity shares aggregating up to ₹1700 crores. The offer for sale comprises equity shares aggregating up to ₹300 crores. The lot size of shares in the IPO is TBA and the price band of shares is TBA.

Runwal Developers IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the Demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The minimum investment amount required by a retail investor is TBA based on the upper price. The minimum lot for retail investors is TBA.

Runwal Developers is a prominent real estate development company with a strong focus on lifestyle-oriented projects and a diversified portfolio spanning residential, commercial and organised retail projects across the Mumbai Metropolitan Region (“MMR”) and Pune in Maharashtra.

Objectives of Runwal Developers IPO

The company proposes to utilise the IPO proceeds for:

• Prepayment/repayment of certain outstanding borrowings availed by the company and its subsidiaries in part or full
• General corporate purposes

Industry Outlook

The real estate market in India has grown at a CAGR of approximately 11.26% from USD 50 billion in 2008 to USD 180 billion in 2020 and is expected to further reach USD 1 trillion by 2030 and touch USD 5.8 trillion by 2047. By 2025, it is estimated to contribute 13% to the country’s GDP.

The market size has increased by 5.41 times in 8 years from 2017 to 2025E. Market size is projected to grow by 8.92 times from 2025E to 2047E. The CAGR for 2008 to 2025E was 16.29% and for 2025E to 2047E is 10.46%, demonstrating huge opportunity for listed, to-be-listed, reputed & trusted developers, to all developers in general.

About Runwal Developers

Runwal Developers is a prominent real estate development company with a strong focus on lifestyle-oriented projects and a diversified portfolio spanning residential, commercial and organised retail projects across the Mumbai Metropolitan Region (“MMR”) and Pune in Maharashtra.

The company is a well-established brand in MMR and has a strong ongoing and upcoming project pipeline across residential, commercial, organised retail and hospitality in MMR and Pune, focussed on delivering quality and product-driven solutions within committed timelines.

Strengths of Runwal Developers

• Prominent real estate development company with a focus on lifestyle development across a diversified portfolio across MMR and Pune
• Ability to create unique assets across commercial and organised retail segments
• Robust pipeline of projects providing visibility of cash flows
• Established brand with a legacy of design innovation and lifestyle-oriented development leading to premium pricing and ability to sell throughout construction phase
• Demonstrated end-to-end project execution capabilities with ability to deliver projects on time
• Land acquisition expertise combined with presence in asset-light redevelopment and joint development agreements
• Seasoned promoters and experienced senior management team supported by institutional capital

Risks of Runwal Developers

• Varying market conditions in MMR and Pune may affect the company’s ability to sell units in its residential projects or lease its commercial, retail and hospitality spaces
• Inability to complete upcoming projects by their respective expected completion dates or at all could have an adverse effect on business
• Business is capital intensive and is therefore dependent on the availability of real estate financing which may not be available on terms acceptable to the company in a timely manner
• Significant increase in prices or shortage of or delay or disruption in supply of construction materials may adversely affect business
• Commercial, organised retail and hospitality real estate business is dependent on the company’s ability to provide quality space to its customers
• Any dispute with such third parties may delay the completion of the company’s projects
• Failure to maintain and enhance brand and reputation and any negative publicity can adversely impact business
• Inability to sell residential project units in a timely manner may adversely affect working capital requirements
• Business operations may be adversely affected by delays in collection of receivables from customers
• The company cannot guarantee that its subsidiaries will generate profits or avoid losses in the future

Anchor Investor Bidding Date

TBA

IPO Registrar and Book Running Lead Managers

• IPO Registrar: MUFG Intime India
• Book Running Lead Managers: ICICI Securities, BOB Capital Markets, IIFL Capital Services and JM Financial

Runwal Developers Business Model

Runwal Developers is a prominent real estate development company with a strong focus on lifestyle-oriented projects and a diversified portfolio spanning residential, commercial and organised retail projects across MMR and Pune in Maharashtra. The company ranked among the top ten largest real estate developers in MMR in terms of residential units supplied between January 1, 2022 to March 31, 2025.

Runwal Developers Growth Trajectory

The revenue from operations of Runwal Developers grew from ₹301.954 crores in FY 23 to ₹1163.234 crores in FY 25. Robust pipeline of projects and ability to create unique assets across commercial and organised retail segments have helped the company grow over the years.

Runwal Developers Market Position

Runwal Developers is a well-established brand in MMR. The company ranked among the top 10 largest real estate developers in MMR in terms of residential units supplied between January 1, 2022 to March 31, 2025. As of June 30, 2025, the company had 35 completed projects, 17 ongoing projects and 24 upcoming projects across MMR and Pune.

As of June 30, 2025, it had delivered 11.22 million square feet of real estate in the form of high-value and affordable residential buildings, commercial projects and retail spaces.

How to Apply for Runwal Developers IPO?

• Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.