Runwal Enterprises Files for ₹1,000 Crore IPO; Revenue Triples in FY24

New Delhi, April 1 – Mumbai-based real estate firm Runwal Enterprises has filed its Draft Red Herring Prospectus (DRHP) with SEBI, seeking approval to raise ₹1,000 crore through an Initial Public Offering (IPO).

IPO Details: Fresh Issue Only, No OFS​

The IPO will be entirely a fresh issue of shares, with no Offer-for-Sale (OFS) component. According to the DRHP submitted on Monday, the company has also proposed a reservation for eligible employees, along with a discount on share pricing for them.

Additionally, the company may conduct a pre-IPO placement of up to ₹200 crore. If executed, this would proportionally reduce the size of the fresh issue.

Utilisation of IPO Proceeds​

Runwal Enterprises plans to use the IPO proceeds as follows:

• ₹200 crore for debt repayment
• ₹450 crore for investment in subsidiaries to support their debt obligations
• The remaining funds will be allocated toward future real estate acquisitions and general corporate purposes

Strong Financial Performance in FY24​

Runwal Enterprises reported a significant surge in consolidated revenue and a return to profitability in the financial year 2023–24:

• Revenue jumped from ₹229.49 crore in FY23 to ₹662.19 crore in FY24
• Net profit stood at ₹107.28 crore, compared to a loss in the previous fiscal

For the six months ended September 30, 2024, the company recorded:

• Revenue: ₹270.52 crore
• Profit After Tax: ₹25.53 crore

Business Profile​

Runwal Enterprises focuses on residential developments across affordable, mid-income, and luxury segments. The company also has a portfolio in commercial properties, retail malls, and educational infrastructure.

IPO Lead Managers and Listing Plan​

ICICI Securities and Jefferies India are acting as the book-running lead managers for the public issue. The company plans to list its equity shares on both BSE and NSE.