Runwal Developers Eyes Rs 2,000 Crore IPO to Cut Debt

Runwal Developers is set to reduce its debt burden with a Rs 2,000 crore IPO. The real estate market in India is buzzing with activity, as more developers queue up for listings.

, and Administrator

2025 October 3 . 8:01 PM

1 min read

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Runwal Developers Eyes Rs 2,000 Crore IPO to Cut Debt

The Indian IPO market is abuzz with activity, as several real estate developers are lining up for listings. Chennai-based Casagrand and Kalpatru Ltd are among those considering public offerings. Meanwhile, Runwal Developers Ltd has taken a significant step towards its IPO, filing a draft red herring prospectus (DRHP) with SEBI to raise Rs 2,000 crore ($225 million).

Runwal Developers, led by Sandeep Subhash Runwal, plans to raise Rs 1,700 crore through a fresh share sale and the rest via an offer for sale (OFS) by the promoter. The company has a substantial debt of around Rs 3,300 crore, which it aims to clear with a significant portion of the IPO proceeds. The remaining funds will be used for general corporate purposes.

The company's robust portfolio comprises 17 ongoing and 24 upcoming projects, with 35 projects already delivered across residential, commercial, and retail segments. ICICI Securities, BOB Capital Markets, IIFL Securities, and JM Financial are the book running lead managers for the IPO, expected to list around October 2023.

In a related development, another faction of the Runwal family, Runwal Enterprises, filed for a Rs 1,000 crore IPO in April this year, with proceeds earmarked for debt repayment or prepayment.

The IPO market in India is witnessing a surge in real estate listings, with Runwal Developers' Rs 2,000 crore IPO being the latest addition. The company aims to reduce its debt burden and fortify its financial position through this public offering.