Trilegal Advised Runwal Enterprises on INR 5,000 million IPO
Trilegal advised Runwal Enterprises Limited (REL) on its initial public offering
Trilegal advised on IPO aggregating INR 5,000 million which comprised a fresh issue of 16,398,962 equity shares of face value INR 2 each.
Trilegal advised Runwal Enterprises Limited (REL) on its initial public offering (IPO) aggregating to ~INR 5,000 million. The issue comprised a fresh issue of 16,398,962 equity shares of face value INR 2 each.
REL, through itself, it’s subsidiaries, joint ventures and associate (REL Group) is a real estate developer present across the full spectrum of real estate development, specializing in residential projects that cater to affordable, mid-income, and luxury segments, as well as commercial spaces, retail malls and educational buildings.
REL Group is a recognized brand in the industry and has a strong presence in Mumbai. REL Group is also backed by marquee investors including, HDFC Capital Affordable Real Estate Fund - 3, Nishi-Nippon Railroad Co. Ltd, Genkai Capital Secured Investment Pte. Ltd and Nexus Realty Trust.
The proceeds from the IPO will be used for repayment / prepayment of full or in part of certain borrowings availed by REL and its subsidiaries.
The syndicate of book running lead managers comprised ICICI Securities Limited and Jefferies India Private Limited.
The Trilegal Capital Markets team advising on the matter was led by Partners, Richa Choudhary and Maitreya Rajurkar, and comprised Senior Associate, Pooja Tada and Associates, Yug Gambhir, Siddhant Mishra, Samruddhi Varma, Shreyansh Gupta, and Arnab Goswami.
Trilegal’s Partner, Sai Krishna Bharathan, provided strategic inputs on the transaction.