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.

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