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Runwal Enterprises, a Mumbai-based real estate developer, filed draft papers with SEBI for an IPO to raise ₹1,000 crore.
The deets: the company develops residential, commercial, and retail spaces, best known for large-scale townships and premium housing projects across metro cities.
What’s new: the IPO is a fresh issue, with an option for a ₹200 crore pre-IPO placement. Proceeds will be used to pare down debt and fund future real estate projects.
By the numbers: Runwal posted ₹662 crore in revenue in FY24, up 189% from last year. It turned profitable with ₹107 crore in earnings, led by strong sales from its flagship Runwal Gardens project.
Key nugget: Runwal ranks second in Mumbai’s new project launches over the last five years.
