Runwal Enterprises has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 1,000 crore through an initial public offering (IPO). The IPO is completely a fresh issue of shares with no Offer-For-Sale (OFS) component.
Proceeds from the fresh issue to the tune of Rs 200 crore will be used for the payment of debt, Rs 450 crore for investments in subsidiaries for their debt repayment, and a portion will be utilised for funding the acquisition of future real estate projects and general corporate purposes. ICICI Securities and Jefferies India are the book-running lead managers to the public offer. The equity shares are proposed to be listed on BSE and NSE.
Runwal Enterprises specialises in residential projects catering to affordable, mid-income, and luxury segments, as well as commercial spaces, retail malls, and educational buildings.
| Company Name | CMP |
|---|---|
| Lodha Developers | 948.50 |
| Dilip Buildcon | 479.70 |
| DLF | 609.05 |
| Oberoi Realty | 1672.50 |
| Ahluwalia Contract(I | 853.00 |
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