Sandeep Runwal-promoted real estate firm Runwal Developers has approached capital markets with the intention to reduce debt burden through the launch of Rs 2,000 crore IPO and it has filed preliminary papers with SEBI.
The Mumbai-based company plans to raise Rs 1,700 crore by issuing fresh shares, while promoter Sandeep Subhash Runwal will be selling shares worth Rs 300 crore via offer-for-sale (OFS).
As a part of fresh issue component, it may consider raising funds up to Rs 340 crore before the launch of initial share sale for public subscription i.e. pre-IPO round.
Incorporated in 1988, Runwal Developers, which has a portfolio of residential, commercial and retail projects in the Mumbai Metropolitan Region and Pune in Maharashtra, intends to utilise Rs 1,300 crore of fresh issue proceeds for repaying debt of its own and subsidiaries, and the remaining amount for general corporate purposes.
As of August 2025, it has total outstanding borrowings of Rs 3,304.9 crore, as per the DRHP filed September 30.
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The real estate developer, which had completed 35 projects, has 17 ongoing and 24 upcoming projects with developable area of 23.93 million square feet across MMR and Pune as of June 2025.
On the financial front, Runwal Developers has reported profit at Rs 137.4 crore in the fiscal year ended March 2025, falling significantly by 88.6 percent compared to Rs 1,203.6 crore in previous year as it had an exceptional gain of Rs 1,159.3 crore in previous year. Revenue during the same period increased sharply by 115.6 percent to Rs 1,163.2 crore, up from Rs 539.4 crore.
The book running lead managers handling the Runwal Developers IPO are ICICI Securities, BOB Capital Markets, IIFL Capital Services, and JM Financial.
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