Runwal Enterprises
Mumbai-focused real-estate developer building residential, commercial and retail projects across affordable to luxury segments.
Last updated 4 Oct 2026, 7:14 pm IST
- Price band
- ₹290 – ₹305
- Lot size
- 49
- Issue size
- ₹500 Cr (100% fresh)
- Opens
- 25 Sept 2026
- Closes
- 29 Sept 2026
- Exchange
- Both
The numbers
- GMP
- ₹14 (~4.6%) (28 Sep, unchanged)
- Subscription
- 0.44× (day 4, 28 Sep — still stalled)
- Listing date
- 5 Oct 2026
- Model prediction
- ~flat expected → Neutral. Book still weak/stalled at 0.44× (day 4); GMP holds at ₹14 (~5%).
Anil Singhvi's take
Anil Singhvi (Zee Business) recommended applying, for reasonable listing gains and for the long term. He liked the diversified Mumbai real-estate business (residential, commercial, retail), the strong brand and execution record, a large future development pipeline, the smaller ₹500 crore issue, and what he called an attractive valuation. His concerns: operating cash flows are still negative and debt-to-equity is high. (X post not yet linked.)
The Ticker Tales take
Runwal Enterprises develops residential projects — affordable, mid-income and luxury — plus commercial buildings, retail malls and educational spaces, with a strong presence in Mumbai and a mix of its own greenfield projects and asset-light joint development deals. FY26 revenue grew 76% to ₹1,850.8 crore, while profit more than tripled, up 234% to ₹185.8 crore. The entire ₹500 crore issue is fresh shares, so every rupee raised goes into the company rather than to existing owners. Worth weighing: real-estate earnings can be lumpy quarter to quarter as projects get recognised, so today's growth rate may not repeat evenly. Demand is still stalled through day four at about 0.44 times covered — unchanged since day one, and weak against the tougher bar a multi-day book sets — while the grey market premium holds around ₹14, roughly 5% over the top of the band. That combination still lands inside our dead band, so this stays Neutral.
More details
- Sector
- Real estate (residential & commercial)
- FY26 PAT
- ₹185.76 Cr (+234%)
- Issue type
- 100% Fresh issue
- FY26 revenue
- ₹1,850.79 Cr (+76%)
- Anil Singhvi - Long-term call
- Subscribe (long term)
- Anil Singhvi - Listing-gain call
- Reasonable listing gains
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Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.