Mumbai-based Runwal Developers has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The company plans to raise about Rs 2000 crore , sources said.
IPO Structure: Fresh issue and promoter OFS
The issue comprises a fresh issue of Rs 1,700 crore and an offer for sale (OFS) component of Rs 300 crore by promoter – Sandeep Subhash Runwal.
Capital deployment focused on debt repayment
The proceeds from its fresh issuance up to Rs 1300 crore will be utilised for Prepayment/repayment of certain outstanding borrowings availed by the Company and its subsidiaries.