According to the filing of the regulator, the proposed IPO is Rs. There will be a new issue of equity shares worth 2 faces and no offer fur-for-cell component will be included.
The developer, who has made a strong presence in Mumbai’s residential and commercial markets, said that the income of the IPO will be used to increase its expansion and strengthen its balance sheet. Force fur structure also provides stock reserves for eligible employees, which will get discounts on subscription to employee quota.
According to the regulatory filing, this issue will be carried out by a book-making route. According to SEBI rules, at least 75% of net issues will be allocated to eligible institutional buyers, no more than 15% to non-institutional bidders, and at least 10% of retail personal investors. The company has also left space for IPO placement up to 200 crore. If such placement is carried out, the size of the fresh issue will be adjusted accordingly, the document is mentioned.
Randwal Enterprises, founded by Subod Randwal, has more than four decades in the real estate, and has expanded the premium and luxury development with its initial focus on affordable and moderate income housing. In recent years, the group has entered the luxury segment and extended steps beyond the eastern suburbs at premium places like Mahaleyxmi and Bandra. The developer also runs retail malls, commercial locations and educational buildings, which strengthens his presence as a diverse player in the property landscape.
Between January 2019 and September 2024, Ranwal Enterprise is second in the respect of both new residential projections and sales in Mumbai, with a market share of 5.69% and 5.25%, respectively. In the Kalyan-Dombivali submarket, the developer obtained 17.63% of total sales and 20.84% of the new launch during the same period.
As of September 30, 2024, the company’s portfolio includes 15 full projects, 25 ongoing projects and 32 upcoming developments. The total developing area in its residential portfolio and the estimated developing area are 48.71 million square feet. The DRHP has outlined its ambition to become a full-service developer in Mumbai, cheaper, middle income and luxury residential projects, as well as the creation of commercial and mixed useful communities integrating facilities and iconic landmarks.
The company shows the pace of strong growth. According to the re -established consolidated statements, Runwal Enterprise had earned revenue from the performance of 62 662.19 crore in FY 24, which increased by 188.55% ₹ 229.49 crore in FY 23. The profit after tax for the financial year 24 was 7 107.28 crore. For the six months ended September 30, 2024, the revenue with a profit after a tax of ₹ 25.53 crore increased to 0 270.52 crore.
The IPO will be administered as book-running lead managers by ICICI Securities Limited and Jefferies India Pvt. The company has proposed to list its equity shares on both the BSE and the NSE.
With this approval, Ranwal Enterprise joins the growing list of developers based in Mumbai, in which capital markets are tapped for strong housing demand and fuel growth to increase the interest of investors in the real estate sector. Market analysts said that IPOs will once test the appetite of real estate inings, while the sale of wealth in Mumbai, especially in the central income and luxury category, has reached a record.
One evening at Lal Kila, September 27, 2025 Black ICICI Bank is reserved for credit card holders. Memorial experiences on TimesBlack.com. Success
(Now you can subscribe to our Etmarkets WhatsApp channel)
