By Arosh John | Founder – John Real Estate (MahaRERA Reg. No. A51700001835) | Editor-in-Chief – Thane Real Estate News (TREN)
Mumbai | October 2025 — With several MMR-based developers now turning to capital markets for expansion and deleveraging, Runwal’s DRHP signifies a promising shift towards structured public market participation in Mumbai’s real estate sector. This move is expected to inspire market confidence in the company’s future growth trajectory.
Runwal Developers Ltd, operating under the brand Runwal Realty, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹2,000 crore via an Initial Public Offering (IPO). The draft is currently available under SEBI’s public issue disclosures section.
The IPO, comprising a ₹1,700-crore fresh issue of equity shares and a ₹300-crore Offer for Sale (OFS) by promoter Sandeep Subhash Runwal, reflects a strategic move towards balance sheet strengthening and structured capital market entry.
IPO Structure & Capital Allocation
- Fresh Issue: ₹1,700 crore
- Offer for Sale (OFS): ₹300 crore by promoter
- Pre-IPO Placement Option: Up to ₹340 crore (may reduce fresh issue size if activated)
Use of Proceeds (as per DRHP):
- Debt repayment/prepayment — total borrowings stood at approximately ₹3,304.9 crore as of August 2025
- General corporate purposes
Listing & Capital Market Mandates
- Proposed Listing: NSE & BSE
- Book Running Lead Managers:
ICICI Securities, BOB Capital Markets, IIFL Capital Services, JM Financial - Registrar: MUFG Intime India Pvt Ltd
Portfolio & Promoter Position
- 35 completed projects
- 17 ongoing developments
- 24 upcoming projects
- Total development potential: ~23.9 million sq. ft across MMR and Pune
- Promoter Holding (Pre-Issue): ~72.7% by Sandeep Runwal
Financial Snapshot
- FY25 Revenue: ₹1,163.2 crore
- FY25 Profit After Tax (PAT): ₹137.4 crore
Industry analysts note that a public listing supported by a debt-reduction strategy could position Runwal Developers competitively against other listed MMR developers such as Lodha Developers, Oberoi Realty, Prestige Estates and Godrej Properties.
What to Track Next
- SEBI observation and approval timeline
- Outcome of the pre-IPO placement
- Final utilisation structure and updated metrics in the RHP (Red Herring Prospectus)
About the Editor
Arosh John is a MahaRERA Registered Real Estate Consultant (A51700001835), Founder of John Real Estate and Editor-in-Chief of Thane Real Estate News (TREN), a specialised news platform focused on market intelligence, regulatory developments and high-value property insights across Thane–MMR and premium villa markets.
Disclaimer
TREN is an independent digital real estate news platform by John Real Estate. All information is compiled from SEBI filings, regulatory sources and reputed financial disclosures. This article is for information purposes only and should not be treated as investment advice. All brand names and trademarks remain the property of their respective owners.
