Stories
Runwal Enterprises Shares Make Muted Market Debut And End Nearly 2 Percent Lower
- •Shares of Runwal Enterprises Ltd made a muted market debut on Monday and closed nearly 2 percent lower than the issue price.
- •The stock listed at Rs 306 on the BSE, which was marginally up by 0.32 percent, but finally ended at a discount of 1.98 percent at Rs 298.95.
- •On the NSE, the stock listed at par with the issue price of Rs 305 and closed 1.16 percent lower at Rs 301.45.
- •The initial public offering of the real estate developer was subscribed 2.5 times and raised up to Rs 500 crore through a fresh issue of shares.
- •Proceeds from the IPO are planned to be utilized for debt repayment, funding future real estate projects, and general corporate purposes.
Key Questions Answered
Runwal Enterprises shares made a muted market debut on Monday and ended nearly 2 per cent lower. The stock listed at Rs 306 on the BSE, marginally up by 0.32 per cent from its issue price of Rs 305, but finally closed at Rs 298.95. At the NSE, it listed at par, hit an intraday high of Rs 307.75, and ended at Rs 301.45.
The initial public offering of Runwal Enterprises was subscribed 2.5 times on the final day of bidding. The non-institutional investors portion was booked 3.94 times, qualified institutional buyers reached 3.89 times, and the retail investor category saw a 1.12 times subscription.
The IPO was an entirely fresh issue of equity shares aggregating up to Rs 500 crore. The proceeds will be utilized to repay debt, fund future real estate projects, and support general corporate purposes.
