The issue will consist entirely of fresh equity shares, with no offer-for-sale component, and will be listed on both the BSE and NSE. The company may also consider a pre-IPO placement of up to Rs 2 billion. A portion of the offering will be reserved for eligible employees, who will receive a subscription discount.

Proceeds from the issue are intended to support expansion across Mumbai’s residential and commercial markets, as well as to strengthen the balance sheet.

With over four decades of presence, Runwal has diversified from affordable housing into premium and luxury projects, while also expanding into retail, commercial, and educational infrastructure. Its portfolio includes developments in submarkets such as Kalyan-Dombivli.

The IPO will be managed by ICICI Securities and Jefferies India, with MUFG Intime India acting as registrar.

This move aligns with a growing trend of Mumbai-based developers accessing capital markets amid strong housing demand and rising investor interest.

News source: RP Realty Plus