2 hrs ago
Runwal Enterprises Sets ₹290–₹305 Price Band for ₹500-Crore IPO
Runwal Enterprises is a real estate company based in Mumbai.
It plans to raise ₹500 crore through a public share sale.
People can apply for the shares from September 25 to September 29.
Each share will cost between ₹290 and ₹305.
All the shares in this IPO are new shares issued by the company.
This means the money will go to Runwal Enterprises rather than existing shareholders.
The company plans to use some money to repay debt and some to buy future property projects.
Its shares are expected to be listed on the BSE and NSE on October 5.
The company had earlier planned to raise ₹1,000 crore but reduced the issue size by half.
Runwal Enterprises will open its ₹500-crore IPO for subscription from September 25 to September 29.
The price band is set at ₹290–₹305 per equity share.
The issue consists entirely of newly issued shares, with no offer-for-sale component.
Proceeds will be used partly for debt repayment, future project acquisitions and general corporate needs.
Shares are proposed to list on the BSE and NSE on October 5, subject to allotment and regulatory requirements.
- Who
- Runwal Enterprises Limited, with ICICI Securities and Jefferies India as book-running lead managers.
- What
- A ₹500-crore initial public offering consisting entirely of newly issued equity shares.
- Where
- The IPO is in India’s primary market, and the shares are proposed to list on the BSE and NSE.
- When
- Subscription is scheduled for September 25–29, with proposed listing on October 5.
- Why
- To repay debt, acquire future real estate projects and meet general corporate requirements.
Key facts
- IPO size
- ₹500 crore
- Price band
- ₹290–₹305 per equity share
- Subscription period
- September 25 to September 29
- Proposed listing date
- October 5
- Issue structure
- Entirely a fresh issue; no offer-for-sale component
- Investor allocation
- 50% qualified institutional buyers, 15% non-institutional investors and 35% retail investors
- Issue managers
- ICICI Securities and Jefferies India
- Registrar
- MUFG Intime India
Sources
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