Runwal Enterprises Ltd

Runwal Enterprises Limited was originally incorporated as 'Propel Developers Private Limited', pursuant to a certificate of incorporation dated February 17, 2016, issued by the RoC. The name of Company was changed from 'Propel Developers Private Limited' to 'Runwal Apartments Private Limited' on January 13, 2021. Subsequently, the name of the Company was changed from 'Runwal Apartments Private Limited' to 'Runwal Enterprises Private Limited' and a certificate of incorporation was issued by the RoC on January 24, 2024. Subsequently, Company was converted from a private company to a public company, following the change in name of the Company to 'Runwal Enterprises Limited' and a certificate of incorporation upon conversion to public limited company was issued by the RoC on October 4, 2024. The Company is a real estate developer across the full spectrum of real estate development and it specialize in residential projects that cater to affordable, mid-income, and luxury segments, as well as commercial spaces, retail malls and educational buildings. The Company has a diverse project portfolio that spans the eastern, central, south central and western suburbs of Mumbai and integrated township projects in Kalyan-Dombivli. The Company was amalgamated with its erstwhile subsidiary, Runwal Homes Private Limited in 2017. Later, the erstwhile subsidiary, Ruhel Media and Entertainment Private Limited (RMAEPL) got merged with the Company in 2022. The Company has acquired Evie Real Estate Private Limited by way of a share purchase agreement dated October 16, 2024. The Company had historically focused on the affordable and mid-income residential segments such as Runwal Gardens in Dombivli and Runwal Greens in Mulund West but have recently expanded the focus to include the luxury residential segment (namely, 7 Mahalaxmi). The Company is expanding geographically within Mumbai, moving from the eastern suburbs to western areas such as Mahalaxmi and Bandra. Their business consists of the development and lease / sale of units in certain commercial and shopping complexes. As of September 30, 2024, the non-residential portfolio consists of an aggregate Developable Area and Estimated Developable Area (in the case of Upcoming Projects) of 8.73 million square feet of Projects. Company is planning an IPO by raising funds from public aggregating to Rs 1000 Cr equity shares of face value of Rs 2 each through fresh issue.